BOK Financial (NASDAQ:BOKF) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of BOK Financial (NASDAQ:BOKF) from a hold rating to a buy rating in a research note published on Wednesday morning.

BOKF has been the subject of several other reports. Keefe, Bruyette & Woods boosted their price objective on BOK Financial from $112.00 to $125.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Stephens cut their price objective on shares of BOK Financial from $135.00 to $127.00 and set an “equal weight” rating on the stock in a report on Wednesday. Wells Fargo & Company upped their target price on shares of BOK Financial from $105.00 to $112.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 3rd. Wedbush restated a “neutral” rating and issued a $115.00 price target on shares of BOK Financial in a research report on Tuesday, October 22nd. Finally, Royal Bank of Canada upped their price objective on BOK Financial from $115.00 to $120.00 and gave the company a “sector perform” rating in a report on Wednesday. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $116.40.

BOK Financial Price Performance

Shares of BOKF stock opened at $109.91 on Wednesday. BOK Financial has a 1 year low of $78.99 and a 1 year high of $121.58. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.87. The firm’s 50 day moving average is $112.82 and its 200-day moving average is $107.24. The firm has a market capitalization of $7.05 billion, a price-to-earnings ratio of 13.52 and a beta of 1.20.

BOK Financial (NASDAQ:BOKF) last announced its quarterly earnings data on Friday, January 17th. The bank reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.97 by $0.15. BOK Financial had a return on equity of 9.96% and a net margin of 15.32%. Sell-side analysts forecast that BOK Financial will post 8.52 EPS for the current fiscal year.

BOK Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th were issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.07%. The ex-dividend date was Friday, November 15th. This is a boost from BOK Financial’s previous quarterly dividend of $0.55. BOK Financial’s payout ratio is 28.04%.

Insider Buying and Selling

In related news, Director Steven Bangert sold 2,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $117.83, for a total value of $235,660.00. Following the sale, the director now directly owns 44,709 shares of the company’s stock, valued at approximately $5,268,061.47. The trade was a 4.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 56.94% of the stock is owned by company insiders.

Institutional Trading of BOK Financial

Several hedge funds and other institutional investors have recently modified their holdings of BOKF. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of BOK Financial during the second quarter worth about $39,000. KBC Group NV grew its stake in shares of BOK Financial by 25.3% during the 3rd quarter. KBC Group NV now owns 905 shares of the bank’s stock worth $95,000 after acquiring an additional 183 shares in the last quarter. Prospera Private Wealth LLC acquired a new stake in shares of BOK Financial in the third quarter valued at approximately $142,000. Point72 DIFC Ltd bought a new stake in shares of BOK Financial in the second quarter worth $143,000. Finally, CWM LLC boosted its holdings in BOK Financial by 211.8% during the third quarter. CWM LLC now owns 1,456 shares of the bank’s stock worth $152,000 after purchasing an additional 989 shares during the last quarter. Institutional investors and hedge funds own 34.44% of the company’s stock.

About BOK Financial

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.