In a recent transaction, Steven Bangert, a director at BOK Financial Corp (NASDAQ:BOKF), sold a significant number of shares in the company. The transaction, which took place on May 3, 2024, involved the sale of 5,000 shares of common stock, resulting in a total value of over $458,000.
The shares were sold in multiple transactions at prices that ranged from $91.61 to $91.78. This range represents a weighted average price, as the shares were not sold at a single price point but rather over a spectrum of closely grouped values.
Following the transaction, Bangert's direct holdings in the company decreased to 47,985 shares. Additionally, the report disclosed indirect ownership through Bangert Family Investments, LLLP, which, after the sale, holds 19,236 shares.
The executed sales reflect a notable change in Bangert's investment position with respect to BOK Financial Corp, a prominent player in the national commercial banks sector. Investors often monitor such transactions by insiders as they can provide insights into the executives' perspectives on the company's current valuation and future prospects.
The details of the transactions are publicly available and have been filed in accordance with SEC regulations. Interested parties may request more detailed information about the specific prices at which the shares were sold within the reported range.
BOK Financial Corp, based in Tulsa, Oklahoma, is a financial services company that offers a wide range of banking products and services. The company's stock trades on the NASDAQ under the ticker symbol BOKF.
InvestingPro Insights
As investors digest the news of Steven Bangert's recent sale of BOK Financial Corp shares, several metrics and tips from InvestingPro may provide additional context. With a market capitalization of $6.02 billion and a Price to Earnings (P/E) ratio of 13.57, BOKF appears to be trading at a valuation that reflects its earnings potential. Moreover, the company's P/E ratio has adjusted to 12.36 over the last twelve months as of Q1 2024, suggesting a slightly more attractive valuation in recent times.
BOK Financial Corp's dividend yield stands at 2.38%, which is noteworthy considering the company has maintained dividend payments for 20 consecutive years, according to an InvestingPro Tip. This consistent return to shareholders is complemented by the company's 10-year streak of raising its dividend, showcasing its commitment to returning value to its investors. Additionally, the company's share price has experienced a significant uptick, with a 34.33% total return over the past six months.
While some InvestingPro Tips indicate that BOKF is quickly burning through cash and suffers from weak gross profit margins, analysts remain optimistic about the company's profitability, with seven analysts having revised their earnings upwards for the upcoming period. This sentiment is bolstered by the company's operating income margin of 34.91% over the last twelve months as of Q1 2024, demonstrating a strong ability to convert revenue into operating income.
For those interested in a deeper analysis, InvestingPro offers additional tips on BOKF, which can be found at https://www.investing.com/pro/BOKF. Readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking a wealth of investment insights. With 10 more tips available on InvestingPro, investors have access to a comprehensive suite of tools to help inform their investment decisions regarding BOK Financial Corp.
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