Short Interest in BOK Financial Co. (NASDAQ:BOKF) Declines By 17.5%

BOK Financial Co. (NASDAQ:BOKF) was the target of a significant decrease in short interest in August. As of August 31st, there was short interest totalling 462,000 shares, a decrease of 17.5% from the August 15th total of 559,800 shares. Based on an average daily trading volume, of 155,000 shares, the days-to-cover ratio is currently 3.0 days. Approximately 1.8% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Royal Bank of Canada boosted their price objective on BOK Financial from $99.00 to $114.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 24th. Truist Financial increased their price objective on shares of BOK Financial from $94.00 to $112.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. StockNews.com upgraded shares of BOK Financial from a “sell” rating to a “hold” rating in a research note on Friday, July 26th. Keefe, Bruyette & Woods increased their price target on BOK Financial from $100.00 to $110.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th. Finally, Hovde Group boosted their price objective on BOK Financial from $106.00 to $122.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Nine analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $108.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Treasurer of the State of North Carolina lifted its stake in shares of BOK Financial by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 12,564 shares of the bank’s stock valued at $1,076,000 after purchasing an additional 120 shares during the last quarter. American Century Companies Inc. lifted its position in BOK Financial by 1.4% in the second quarter. American Century Companies Inc. now owns 16,056 shares of the bank’s stock worth $1,471,000 after buying an additional 225 shares during the last quarter. Covestor Ltd lifted its position in BOK Financial by 361.8% in the first quarter. Covestor Ltd now owns 471 shares of the bank’s stock worth $43,000 after buying an additional 369 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in BOK Financial during the second quarter worth $39,000. Finally, Vanguard Personalized Indexing Management LLC increased its position in BOK Financial by 18.1% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 2,816 shares of the bank’s stock valued at $258,000 after acquiring an additional 431 shares during the last quarter. Hedge funds and other institutional investors own 34.44% of the company’s stock.

BOK Financial Price Performance

Shares of BOK Financial stock opened at $104.14 on Wednesday. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 1.27. BOK Financial has a 12 month low of $62.42 and a 12 month high of $107.97. The stock has a 50 day moving average of $100.94 and a 200 day moving average of $93.69. The firm has a market cap of $6.72 billion, a PE ratio of 15.14 and a beta of 1.18.

BOK Financial (NASDAQ:BOKF) last posted its earnings results on Monday, July 22nd. The bank reported $2.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.65. The firm had revenue of $871.84 million during the quarter, compared to analyst estimates of $520.43 million. BOK Financial had a net margin of 13.92% and a return on equity of 9.94%. During the same period last year, the firm posted $2.27 earnings per share. On average, research analysts expect that BOK Financial will post 7.78 EPS for the current fiscal year.

BOK Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Thursday, August 15th were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend was Thursday, August 15th. BOK Financial’s dividend payout ratio is 32.07%.

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.