Cerity Partners LLC Increases Stake in BOK Financial Co. (NASDAQ:BOKF)

Cerity Partners LLC has significantly increased its investment in BOK Financial Co. (NASDAQ:BOKF), boosting its stake by a remarkable 167.8% during the third quarter. This information was disclosed in the company’s latest 13F filing with the Securities and Exchange Commission (SEC). By the end of the reporting period, Cerity Partners owned a total of 5,857 shares of BOK Financial, having purchased an additional 3,670 shares.

The value of Cerity Partners LLC’s holdings in BOK Financial stood at approximately $613,000 at the conclusion of the most recent reporting period, reflecting the growing interest in this bank's stock.

Other institutional investors have also been active in adjusting their stakes in BOK Financial. For instance, Edgestream Partners L.P. entered a new investment position during the second quarter valued at $3,429,000. Additionally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake by 11.7% during the second quarter, resulting in ownership of 126,228 shares valued at $11,567,000 after acquiring 13,175 shares in the last quarter.

Moreover, Creative Planning increased its stake by an impressive 130.1% in the third quarter, owning 11,946 shares valued at $1,250,000 post-acquisition of 6,755 shares. Sanctuary Advisors LLC also entered the scene with a new investment worth around $540,000 during the second quarter. Finally, Bleakley Financial Group LLC augmented its investment in BOK Financial by 31.6% in the third quarter, bringing its ownership to 3,013 shares valued at approximately $315,000.

Overall, institutional investors and hedge funds now control about 34.44% of BOK Financial’s stock, underscoring the bank’s appeal to large investors.

Recent Analyst Ratings

Recent evaluations from several brokerage firms regarding BOK Financial have reflected varying outlooks. DA Davidson recently adjusted its price target on BOK Financial, lowering it from $124.00 to $123.00 while maintaining a “buy” rating. Meanwhile, Truist Financial elevated their rating from “hold” to “buy” and set a new price target of $123.00, up from $112.00, demonstrating optimism about the bank’s potential.

Stephens decreased its price target on BOK Financial from $116.00 to $114.00 while maintaining an “equal weight” rating. Wells Fargo & Company likewise raised its target price from $105.00 to $112.00 and issued an “equal weight” rating. In contrast, Wedbush reiterated its “neutral” rating with a price target set at $115.00.

In total, seven analysts have assigned a hold rating, while four analysts have rated the stock as a buy. Current data points to a consensus “Hold” rating with an average price target of $114.40.

Insider Transactions

In related news, BOK Financial's Director, Steven Bangert, sold 2,000 shares of the bank's stock on November 6th. The shares were sold at an average price of $117.83, totaling approximately $235,660. Post this sale, Bangert’s ownership dropped by 4.28%, leaving him with 44,709 shares valued at around $5,268,061.47. This transaction was duly noted in filings with the SEC, which investors can access through the SEC's website. Corporate insiders hold a substantial 56.94% of the company's stock.

BOK Financial's Recent Performance

On the trading front, BOK Financial's stock was observed opening at $118.38 recently. The bank's stock has seen a 12-month low of $76.76 and a 12-month high of $121.58. The market capitalization of BOK Financial is approximately $7.59 billion, with a P/E ratio of 16.28 and a beta of 1.18. Its 50-day simple moving average stands at $111.53, while the 200-day simple moving average is $102.17. The bank reports a debt-to-equity ratio of 0.87, with both current and quick ratios at 0.79.

BOK Financial last released its quarterly earnings data on October 21st, revealing earnings of $2.18 per share, which surpassed expectations set at $1.98 by a margin of $0.20. The revenue reported for that quarter was $888.50 million, significantly above analyst forecasts of $509.43 million.

The bank's return on equity stood at 9.67% with a net margin of 13.78%. This performance indicates a growth trajectory compared to the previous year when the company reported earnings of $2.04 EPS.

Dividend Increase

BOK Financial has also recently announced an increase in its quarterly dividend, which was paid on November 27th. Shareholders on record as of November 15th received a dividend of $0.57 per share. This marks an increase from the previous quarterly dividend of $0.55, suggesting healthy growth. The annualized dividend now stands at $2.28 per share, resulting in a yield of 1.93%. The current dividend payout ratio for BOK Financial is 31.36%, reflecting a solid return for investors.

About BOK Financial

BOK Financial Corporation operates as a financial holding company for BOKF, NA, providing a range of financial products and services across multiple states, including Oklahoma, Texas, New Mexico, Northwest Arkansas, Colorado, Arizona, and Kansas/Missouri. It operates through three primary segments: Commercial Banking, Consumer Banking, and Wealth Management.

Investment, Stocks, Banking