Short Interest in BOK Financial Co. (NASDAQ:BOKF) Declines By 19.2%

BOK Financial Co. (NASDAQ:BOKF) was the recipient of a significant drop in short interest in the month of November. As of November 15th, there was short interest totalling 238,900 shares, a drop of 19.2% from the October 31st total of 295,500 shares. Currently, 0.9% of the shares of the company are sold short. Based on an average daily volume of 148,500 shares, the days-to-cover ratio is presently 1.6 days.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Royal Bank of Canada lifted their price objective on BOK Financial from $111.00 to $113.00 and gave the company a “sector perform” rating in a report on Wednesday, October 23rd. DA Davidson cut their target price on BOK Financial from $124.00 to $123.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Wedbush restated a “neutral” rating and issued a $115.00 target price on shares of BOK Financial in a research note on Tuesday, October 22nd. Wells Fargo & Company boosted their target price on BOK Financial from $102.00 to $105.00 and gave the company an “equal weight” rating in a research note on Monday, October 28th. Finally, Stephens cut their target price on BOK Financial from $116.00 to $114.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 23rd. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $112.20.

Insider Buying and Selling

In related news, Director Steven Bangert sold 2,000 shares of BOK Financial stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $117.83, for a total value of $235,660.00. Following the completion of the sale, the director now directly owns 44,709 shares in the company, valued at $5,268,061.47. This trade represents a 4.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 56.94% of the stock is owned by company insiders.

Institutional Investors Weigh In On BOK Financial

Institutional investors and hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC grew its stake in BOK Financial by 4,370,260.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 218,518 shares of the bank’s stock worth $20,025,000 after purchasing an additional 218,513 shares during the period. Dimensional Fund Advisors LP grew its stake in BOK Financial by 6.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,176,031 shares of the bank’s stock worth $199,405,000 after purchasing an additional 125,950 shares during the period. Jacobs Levy Equity Management Inc. grew its stake in BOK Financial by 28.0% during the third quarter. Jacobs Levy Equity Management Inc. now owns 223,745 shares of the bank’s stock worth $23,408,000 after purchasing an additional 48,942 shares during the period. Point72 Asset Management L.P. grew its stake in BOK Financial by 55.6% during the third quarter. Point72 Asset Management L.P. now owns 136,833 shares of the bank’s stock worth $14,315,000 after purchasing an additional 48,874 shares during the period. Finally, Edgestream Partners L.P. acquired a new stake in BOK Financial during the second quarter worth approximately $3,429,000. Institutional investors and hedge funds own 34.44% of the company’s stock.

BOK Financial Price Performance

BOKF traded up $0.59 on Monday, reaching $119.46. The stock had a trading volume of 64,148 shares, compared to its average volume of 152,497. BOK Financial has a fifty-two week low of $74.40 and a fifty-two week high of $121.58. The firm has a 50-day moving average of $110.13 and a 200-day moving average of $101.44. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $7.66 billion, a price-to-earnings ratio of 16.35 and a beta of 1.17.

BOK Financial (NASDAQ:BOKF) last issued its earnings results on Monday, October 21st. The bank reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.20. The business had revenue of $888.50 million during the quarter, compared to analysts’ expectations of $509.43 million. BOK Financial had a return on equity of 9.67% and a net margin of 13.78%. During the same quarter in the prior year, the firm earned $2.04 EPS. As a group, sell-side analysts anticipate that BOK Financial will post 8.08 EPS for the current year.

BOK Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th were paid a $0.57 dividend. This is a boost from BOK Financial’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.28 annualized dividend and a dividend yield of 1.91%. BOK Financial’s dividend payout ratio is presently 31.36%.

BOK Financial Company Profile

BOK Financial Corporation operates as the financial holding company for BOKF, NA that provides various financial products and services in Oklahoma, Texas, New Mexico, Northwest Arkansas, Colorado, Arizona, and Kansas/Missouri. It operates through three segments: Commercial Banking, Consumer Banking, and Wealth Management.