BOK Financial (NASDAQ:BOKF) Sets New 52-Week High – Time to Buy?

BOK Financial Corporation (NASDAQ:BOKF) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $140.57 and last traded at $140.5050, with a volume of 64604 shares. The stock had previously closed at $138.88.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on BOKF shares. Zacks Research cut shares of BOK Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Royal Bank Of Canada upped their target price on shares of BOK Financial from $136.00 to $145.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. DA Davidson increased their target price on shares of BOK Financial from $132.00 to $139.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 22nd. Citigroup raised their price target on BOK Financial from $138.00 to $141.00 and gave the stock a “neutral” rating in a report on Thursday, June 25th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of BOK Financial in a research report on Tuesday, June 9th. Two research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $135.18.

BOK Financial Stock Down 1.4%

The company has a market capitalization of $8.46 billion, a price-to-earnings ratio of 14.10 and a beta of 0.80. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.03. The firm’s 50 day simple moving average is $131.94 and its 200-day simple moving average is $129.43.

BOK Financial (NASDAQ:BOKF) last released its earnings results on Monday, April 20th. The bank reported $2.58 EPS for the quarter, topping the consensus estimate of $2.30 by $0.28. The company had revenue of $553.82 million during the quarter, compared to analysts’ expectations of $549.71 million. BOK Financial had a net margin of 18.05% and a return on equity of 9.89%. During the same quarter last year, the business earned $1.86 EPS. On average, sell-side analysts anticipate that BOK Financial Corporation will post 10.28 EPS for the current fiscal year.

BOK Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th were given a $0.63 dividend. The ex-dividend date was Wednesday, May 13th. This represents a $2.52 dividend on an annualized basis and a yield of 1.8%. BOK Financial’s dividend payout ratio (DPR) is presently 25.51%.

Insider Buying and Selling at BOK Financial

In other news, EVP Jeffrey A. Reid sold 1,200 shares of the stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $135.52, for a total transaction of $162,624.00. Following the completion of the transaction, the executive vice president directly owned 8,116 shares of the company’s stock, valued at approximately $1,099,880.32. This represents a 12.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Mark B. Wade sold 1,700 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $132.62, for a total value of $225,454.00. Following the transaction, the executive vice president directly owned 20,361 shares of the company’s stock, valued at approximately $2,700,275.82. This trade represents a 7.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 5,500 shares of company stock valued at $738,571. 63.53% of the stock is owned by corporate insiders.

Institutional Trading of BOK Financial

Institutional investors have recently modified their holdings of the business. Cibc World Markets Corp acquired a new stake in shares of BOK Financial in the fourth quarter valued at about $130,994,000. CIBC Bancorp USA Inc. purchased a new stake in BOK Financial during the third quarter worth about $123,231,000. Freestone Grove Partners LP grew its position in BOK Financial by 407.0% during the third quarter. Freestone Grove Partners LP now owns 363,610 shares of the bank’s stock worth $40,521,000 after buying an additional 291,894 shares during the period. Norges Bank acquired a new position in BOK Financial during the fourth quarter worth about $32,755,000. Finally, Cibc World Market Inc. increased its holdings in BOK Financial by 39.0% in the fourth quarter. Cibc World Market Inc. now owns 908,800 shares of the bank’s stock valued at $107,656,000 after buying an additional 254,800 shares in the last quarter. 34.44% of the stock is currently owned by hedge funds and other institutional investors.

About BOK Financial

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.