Should You Invest in BOK Financial Corporation (BOKF)?

Upslope Capital Management, an investment management firm, released its fourth-quarter 2022 investor letter. A copy of the same can be downloaded here. 2022 was a rewarding year for the firm, and the fund returned 6.5% net in 2022, compared to -13.3% return for the S&P Midcap 400 ETF (MDY) and -3.2% return for the HFRX Equity Hedge Index. In the fourth quarter, the fund returned 11.2% compared to a 10.7% return for the S&P Midcap 400 ETF (MDY) and a 1.7% return for the HFRX Equity Hedge Index. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Upslope Capital Management highlighted stocks like BOK Financial Corporation (NASDAQ:BOKF) in the Q4 2022 investor letter. Headquartered in Tulsa, Oklahoma, BOK Financial Corporation (NASDAQ:BOKF) is a financial holding company. On January 23, 2023, BOK Financial Corporation (NASDAQ:BOKF) stock closed at $98.43 per share. One-month return of BOK Financial Corporation (NASDAQ:BOKF) was -5.03%, and its shares lost 3.48% of their value over the last 52 weeks. BOK Financial Corporation (NASDAQ:BOKF) has a market capitalization of $6.62 billion.

Upslope Capital Management made the following comment about BOK Financial Corporation (NASDAQ:BOKF) in its Q4 2022 investor letter:

“BOK Financial Corporation (NASDAQ:BOKF) is a regional bank based in and primarily focused on OK, as well as TX, NM, CO, and surrounding states. Given its footprint, BOKF has concentration in energy lending and related services to the sector. The bank also has a sizable healthcare lending unit. Position initiated in Q4 2022.

Key Investment Points & Risks

Conservatively run bank with solid credit track record, despite energy volatility.

Strong reputation + specialized expertise specifically within energy sector

Straight-forward management with culture of conservatism driven by still-active founder (now Chairman and owns 55%)

Reasonable valuation – low-end of historical P/E range + average P/B – despite conditions/outlook more favorable than anytime in last 10+ years

Possible portfolio hedge in event energy/rates remain elevated (or worse); expect limited downside if energy/rates ease…” (Click here to rad the full text)

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BOK Financial Corporation (NASDAQ:BOKF) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 18 hedge fund portfolios held BOK Financial Corporation (NASDAQ:BOKF) at the end of the third quarter which was 15 in the previous quarter.

We discussed BOK Financial Corporation (NASDAQ:BOKF) in another article and shared the list of regional bank stocks in the U.S. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

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