BOK Financial (NASDAQ:BOKF) Sets New 1-Year High After Analyst Upgrade

BOK Financial Corporation (NASDAQ:BOKF)’s stock price reached a new 52-week high during trading on Friday after Keefe, Bruyette & Woods raised their price target on the stock from $143.00 to $146.00. Keefe, Bruyette & Woods currently has a market perform rating on the stock. BOK Financial traded as high as $143.59 and last traded at $143.1180, with a volume of 60917 shares traded. The stock had previously closed at $141.22.

Several other research analysts have also weighed in on the stock. Zacks Research lowered shares of BOK Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of BOK Financial in a report on Tuesday, June 9th. Citigroup reissued a “neutral” rating on shares of BOK Financial in a report on Thursday. Benchmark began coverage on BOK Financial in a report on Wednesday, June 24th. They issued a “hold” rating on the stock. Finally, Raymond James Financial lowered BOK Financial from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 1st. Two analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $139.00.

Insider Activity at BOK Financial

In other BOK Financial news, Director Steven Bangert sold 500 shares of the business’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $134.91, for a total transaction of $67,455.00. Following the completion of the transaction, the director owned 10,436 shares in the company, valued at approximately $1,407,920.76. The trade was a 4.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Mark B. Wade sold 1,700 shares of the firm’s stock in a transaction on Friday, May 8th. The shares were 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 in the company, valued at $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. Over the last 90 days, insiders sold 4,300 shares of company stock worth $575,947. 63.53% of the stock is owned by insiders.

Hedge Funds Weigh In On BOK Financial

Large investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC lifted its holdings in shares of BOK Financial by 173.1% during the fourth quarter. Farther Finance Advisors LLC now owns 213 shares of the bank’s stock valued at $25,000 after purchasing an additional 135 shares during the last quarter. Pinnacle Holdings LLC acquired a new stake in BOK Financial during the 4th quarter worth about $31,000. Fifth Third Bancorp raised its holdings in BOK Financial by 2,291.7% during the 1st quarter. Fifth Third Bancorp now owns 287 shares of the bank’s stock worth $37,000 after buying an additional 275 shares during the period. Covestor Ltd lifted its stake in BOK Financial by 108.0% during the fourth quarter. Covestor Ltd now owns 366 shares of the bank’s stock valued at $43,000 after buying an additional 190 shares in the last quarter. Finally, Root Financial Partners LLC boosted its holdings in shares of BOK Financial by 56.2% in the first quarter. Root Financial Partners LLC now owns 367 shares of the bank’s stock worth $47,000 after buying an additional 132 shares during the period. Institutional investors and hedge funds own 34.44% of the company’s stock.

BOK Financial Stock Performance

The firm’s 50-day moving average price is $134.16 and its two-hundred day moving average price is $131.51. The firm has a market capitalization of $8.66 billion, a PE ratio of 13.45 and a beta of 0.80. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.03.

BOK Financial (NASDAQ:BOKF) last issued its quarterly earnings results on Monday, July 20th. The bank reported $2.59 EPS for the quarter, missing the consensus estimate of $2.68 by ($0.09). BOK Financial had a net margin of 18.97% and a return on equity of 10.13%. The firm had revenue of $589.40 million during the quarter, compared to analysts’ expectations of $568.08 million. During the same quarter last year, the company posted $2.19 EPS. The firm’s revenue was up 5.4% compared to the same quarter last year. As a group, research analysts predict that BOK Financial Corporation will post 10.41 earnings per share for the current fiscal year.

BOK Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th were issued a $0.63 dividend. The ex-dividend date was Wednesday, May 13th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.8%. BOK Financial’s dividend payout ratio is presently 23.75%.

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.