Banking Sector Sell-Off Pulled Back BOK Financial Corporation (BOKF) in Q1 - InvestingChannel

Banking Sector Sell-Off Pulled Back BOK Financial Corporation (BOKF) in Q1

Ariel Investments, an investment management company, released its “Ariel Focus Fund” first-quarter investor letter. A copy of the same can be downloaded here. The economy started showing signs of cooling and credit conditions have started to tighten, which would help to reduce the inflation.  In the first quarter, the fund was +0.35% up, compared to a +1.01% return for the Russell 1000 Value Index and a +7.50% return for the S&P 500 Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Ariel Focus Fund highlighted stocks like BOK Financial Corporation (NASDAQ:BOKF) in the first quarter 2023 investor letter. Headquartered in Tulsa, Oklahoma, BOK Financial Corporation (NASDAQ:BOKF) is a financial holding company. On June 1, 2023, BOK Financial Corporation (NASDAQ:BOKF) stock closed at $82.96 per share. One-month return of BOK Financial Corporation (NASDAQ:BOKF) was 6.69%, and its shares lost 3.34% of their value over the last 52 weeks. BOK Financial Corporation (NASDAQ:BOKF) has a market capitalization of $5.525 billion.

Ariel Focus Fund made the following comment about BOK Financial Corporation (NASDAQ:BOKF) in its Q1 2023 investor letter:

“Broad-based selling across the banking sector drove shares of regional banking services provider, BOK Financial Corporation (NASDAQ:BOKF) materially lower, as a sudden run on Silicon Valley Bank’s deposits sparked investor concerns about the health of the U.S. financial system. While we believe the actions taken by the Fed were well constructed and have proved effective thus far in walling off contagion, we acknowledge BOKF may be impacted by a reduced earnings trajectory in the near-to-mid-term. Meanwhile, the company continues to exhibit solid loan growth, healthy net interest margins, strong capital levels and balance sheet liquidity, while asset quality also remains very strong. We therefore continue to believe BOKF remains well positioned for success, with strong underwriting standards, proven credit discipline, diversified business model (which includes banking and fee service businesses), and an experienced management team.”

Research, Investment, Finance Research, Investment, Finance

BOK Financial Corporation (NASDAQ:BOKF) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 21 hedge fund portfolios held BOK Financial Corporation (NASDAQ:BOKF) at the end of first quarter 2023 which was 22 in the previous quarter.

We discussed BOK Financial Corporation (NASDAQ:BOKF) in another article and shared Diamond Hill Small Cap Fund’s views on the company. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors.


Suggested Articles:

Disclosure: None. This article is originally published at Insider Monkey.

Related posts

Advisors in Focus- January 6, 2021

Gavin Maguire

Advisors in Focus- February 15, 2021

Gavin Maguire

Advisors in Focus- February 22, 2021

Gavin Maguire

Advisors in Focus- February 28, 2021

Gavin Maguire

Advisors in Focus- March 18, 2021

Gavin Maguire

Advisors in Focus- March 21, 2021

Gavin Maguire