Principal Financial Group Inc. Increases Stake in BOK Financial Corp. (BOKF)
Principal Financial Group Inc. increased its position in BOK Financial Corp. (NASDAQ:BOKF) by 3.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 203,584 shares of the company’s stock after buying an additional 7,573 shares during the period. Principal Financial Group Inc. owned about 0.31% of BOK Financial Corp. worth $12,765,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. boosted its stake in BOK Financial Corp. by 56.7% in the first quarter. Envestnet Asset Management Inc. now owns 25,699 shares of the company’s stock worth $1,404,000 after buying an additional 9,296 shares in the last quarter. Legal & General Group Plc boosted its stake in BOK Financial Corp. by 3.1% in the first quarter. Legal & General Group Plc now owns 2,373 shares of the company’s stock worth $130,000 after buying an additional 72 shares in the last quarter. Mariner Wealth Advisors LLC boosted its stake in BOK Financial Corp. by 300.0% in the first quarter. Mariner Wealth Advisors LLC now owns 20,023 shares of the company’s stock worth $1,094,000 after buying an additional 15,017 shares in the last quarter. Rafferty Asset Management LLC bought a new stake in BOK Financial Corp. during the first quarter worth approximately $221,000. Finally, State Street Corp boosted its stake in BOK Financial Corp. by 4.8% in the first quarter. State Street Corp now owns 639,376 shares of the company’s stock worth $34,925,000 after buying an additional 29,376 shares in the last quarter. 36.67% of the stock is owned by institutional investors and hedge funds.
BOK Financial Corp. (NASDAQ:BOKF) opened at 70.37 on Tuesday. BOK Financial Corp. has a 12-month low of $44.13 and a 12-month high of $75.18. The firm has a market capitalization of $4.63 billion, a price-to-earnings ratio of 19.41 and a beta of 0.88. The firm has a 50-day moving average of $68.36 and a 200 day moving average of $62.96.
BOK Financial Corp. (NASDAQ:BOKF) last released its earnings results on Wednesday, July 27th. The company reported $1.00 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.01. BOK Financial Corp. had a net margin of 16.55% and a return on equity of 7.23%. During the same period in the previous year, the firm posted $1.15 earnings per share. On average, equities analysts predict that BOK Financial Corp. will post $3.87 EPS for the current year.
A number of analysts have recently commented on the stock. Wedbush assumed coverage on shares of BOK Financial Corp. in a research note on Thursday, October 6th. They set a “neutral” rating and a $68.00 target price for the company. SunTrust Banks Inc. cut shares of BOK Financial Corp. from a “buy” rating to a “neutral” rating and cut their target price for the stock from $80.00 to $62.00 in a research note on Thursday, August 25th. TheStreet raised shares of BOK Financial Corp. from a “hold” rating to a “buy” rating in a research note on Monday, August 22nd. Zacks Investment Research cut shares of BOK Financial Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, September 28th. Finally, RBC Capital Markets reissued a “sector perform” rating and set a $68.00 target price (up previously from $61.00) on shares of BOK Financial Corp. in a research note on Thursday, July 28th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $66.00.
In related news, Director C Fred Ball, Jr. sold 1,226 shares of the business’s stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $67.24, for a total transaction of $82,436.24. Following the sale, the director now owns 5,079 shares of the company’s stock, valued at $341,511.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director C Fred Ball, Jr. sold 937 shares of the business’s stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $67.20, for a total transaction of $62,966.40. Following the sale, the director now directly owns 6,305 shares in the company, valued at approximately $423,696. The disclosure for this sale can be found here. Corporate insiders own 61.30% of the company’s stock.
About BOK Financial Corp.
BOK Financial Corporation is a financial holding company. The Company offers full service banking in Oklahoma, Texas, New Mexico, Colorado, Arizona and Kansas/Missouri. Its segments include Commercial Banking, Consumer Banking, Wealth Management, and Funds Management and Other. The Commercial Banking segment includes lending, treasury and cash management services, and customer risk management products for small businesses, middle market and commercial customers.
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