BOK Financial (NASDAQ:BOKF) Hits New 12-Month High – Should You Buy?

BOK Financial Corporation (NASDAQ:BOKF) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $146.38 and last traded at $145.96, with a volume of 10316 shares. The stock had previously closed at $145.65.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of BOK Financial from $143.00 to $146.00 and gave the company a “market perform” rating in a report on Friday, July 24th. Barclays increased their price objective on BOK Financial from $150.00 to $155.00 and gave the company an “equal weight” rating in a report on Monday, August 3rd. Benchmark initiated coverage on BOK Financial in a research note on Wednesday, June 24th. They issued a “hold” rating for the company. Royal Bank Of Canada lifted their target price on BOK Financial from $147.00 to $149.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 22nd. Finally, Wells Fargo & Company upped their target price on BOK Financial from $138.00 to $148.00 and gave the company an “equal weight” rating in a research report on Monday. Two investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $140.36.

BOK Financial Price Performance

The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $8.87 billion, a price-to-earnings ratio of 13.77 and a beta of 0.80. The stock has a 50-day moving average price of $138.56 and a 200 day moving average price of $133.26.

BOK Financial (NASDAQ:BOKF) last released its quarterly earnings results on Monday, July 20th. The bank reported $2.59 earnings per share for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.09). The business had revenue of $602.54 million during the quarter, compared to analyst estimates of $568.08 million. BOK Financial had a return on equity of 10.09% and a net margin of 18.97%.The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.19 EPS. As a group, equities research analysts expect that BOK Financial Corporation will post 10.32 earnings per share for the current year.

BOK Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th will be given a $0.63 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.7%. BOK Financial’s payout ratio is 23.75%.

Insider Buying and Selling

In other news, Director Steven Bangert sold 1,250 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $143.96, for a total transaction of $179,950.00. Following the completion of the transaction, the director directly owned 31,710 shares of the company’s stock, valued at $4,564,971.60. This represents a 3.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Brad A. Vincent sold 4,015 shares of the stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $145.42, for a total value of $583,861.30. Following the transaction, the executive vice president owned 6,031 shares in the company, valued at $877,028.02. This trade represents a 39.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 5,274 shares of company stock valued at $765,067 over the last 90 days. Company insiders own 63.53% of the company’s stock.

Institutional Investors Weigh In On BOK Financial

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Isthmus Partners LLC purchased a new position in BOK Financial in the fourth quarter worth approximately $1,775,000. M&T Bank Corp raised its position in BOK Financial by 1,397.2% in the fourth quarter. M&T Bank Corp now owns 30,767 shares of the bank’s stock valued at $3,645,000 after purchasing an additional 28,712 shares during the period. SG Americas Securities LLC raised its position in BOK Financial by 352.3% in the first quarter. SG Americas Securities LLC now owns 24,026 shares of the bank’s stock valued at $3,077,000 after purchasing an additional 18,714 shares during the period. Norges Bank acquired a new position in shares of BOK Financial in the 4th quarter valued at $32,755,000. Finally, Cibc World Market Inc. lifted its stake in shares of BOK Financial by 39.0% in the 4th quarter. Cibc World Market Inc. now owns 908,800 shares of the bank’s stock valued at $107,656,000 after purchasing an additional 254,800 shares during the last quarter. Institutional investors and hedge funds own 34.44% of the company’s stock.

BOK Financial Company Profile

BOK Financial Corporation (NASDAQ: BOKF), headquartered in Tulsa, Oklahoma, is a diversified financial services holding company serving businesses, professionals and individuals across the central and western United States. Through its banking subsidiary, BOK Financial offers a full suite of commercial banking, treasury and payment management services, as well as consumer deposit and lending solutions. The company’s offerings also encompass wealth management, trust and asset management, investment banking, and insurance products designed to meet the needs of both retail and institutional clients.

The roots of BOK Financial date back to the founding of the Bank of Oklahoma in 1910.