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

BOK Financial Co. (NASDAQ:BOKF) was the target of a significant decrease in short interest in November. As of November 15th, there was short interest totalling 238,900 shares, a decrease of 19.2% from the October 31st total of 295,500 shares. Based on an average trading volume of 148,500 shares, the short-interest ratio is currently 1.6 days. Approximately 0.9% of the company’s stock are short sold.

Insiders Place Their Bets

In other BOK Financial news, Director Steven Bangert sold 2,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $117.83, for a total value of $235,660.00. Following the transaction, the director now owns 44,709 shares in the company, valued at approximately $5,268,061.47. This represents a 4.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 56.94% of the company’s stock.

Hedge Funds Weigh In On BOK Financial

Several hedge funds have recently made changes to their positions in the stock. Tidal Investments LLC grew its position in shares of BOK Financial by 1.7% in the third quarter. Tidal Investments LLC now owns 8,919 shares of the bank’s stock valued at $933,000 after purchasing an additional 147 shares in the last quarter. XTX Topco Ltd grew its position in shares of BOK Financial by 9.6% in the third quarter. XTX Topco Ltd now owns 3,940 shares of the bank’s stock valued at $412,000 after purchasing an additional 346 shares in the last quarter. Jane Street Group LLC grew its position in shares of BOK Financial by 309.8% in the third quarter. Jane Street Group LLC now owns 44,561 shares of the bank’s stock valued at $4,662,000 after purchasing an additional 33,686 shares in the last quarter. SageView Advisory Group LLC purchased a new position in shares of BOK Financial in the third quarter valued at $200,000. Finally, Quadrature Capital Ltd purchased a new position in shares of BOK Financial in the third quarter valued at $472,000. 34.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on BOKF shares. Stephens dropped their target price on BOK Financial from $116.00 to $114.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. Wedbush restated a “neutral” rating and issued a $115.00 target price on shares of BOK Financial in a report on Tuesday, October 22nd. Wells Fargo & Company raised their target price on BOK Financial from $102.00 to $105.00 and gave the company an “equal weight” rating in a report on Monday, October 28th. Royal Bank of Canada raised their target price on BOK Financial from $111.00 to $113.00 and gave the company a “sector perform” rating in a report on Wednesday, October 23rd. Finally, Truist Financial raised BOK Financial from a “hold” rating to a “buy” rating and increased their price target for the company from $112.00 to $123.00 in a research report on Friday, September 20th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $112.20.

BOK Financial Stock Performance

NASDAQ:BOKF traded up $0.59 during trading hours on Monday, reaching $119.46. The stock had a trading volume of 64,148 shares, compared to its average volume of 152,497. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.79 and a current ratio of 0.79. The stock has a 50 day simple moving average of $110.13 and a 200 day simple moving average of $101.44. BOK Financial has a 12-month low of $74.40 and a 12-month high of $121.58. The stock has a market cap of $7.66 billion, a P/E ratio of 16.35 and a beta of 1.17.

BOK Financial (NASDAQ:BOKF) last released 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. BOK Financial had a return on equity of 9.67% and a net margin of 13.78%. The business had revenue of $888.50 million during the quarter, compared to the consensus estimate of $509.43 million. During the same period last year, the business posted $2.04 earnings per share. On average, research analysts forecast that BOK Financial will post 8.08 EPS for the current fiscal 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 given a $0.57 dividend. The ex-dividend date was Friday, November 15th. This is a boost from BOK Financial’s previous quarterly dividend of $0.55. This represents a $2.28 annualized dividend and a dividend yield of 1.91%. BOK Financial’s payout ratio is 31.36%.

About BOK Financial

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.