BOK Financial (NASDAQ:BOKF) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Shares of BOK Financial Corporation (NASDAQ:BOKF) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $119.01 and traded as high as $128.82. BOK Financial shares last traded at $125.75, with a volume of 314,308 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BOKF. Citigroup increased their price objective on BOK Financial from $124.00 to $135.00 and gave the stock a “neutral” rating in a research report on Thursday, January 22nd. Wall Street Zen raised BOK Financial from a “sell” rating to a “hold” rating in a report on Saturday, January 17th. Weiss Ratings restated a “buy (b-)” rating on shares of BOK Financial in a research note on Wednesday, January 21st. Zacks Research raised BOK Financial from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 22nd. Finally, Piper Sandler set a $135.00 price objective on shares of BOK Financial in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $129.33.

BOK Financial Stock Performance

The company has a debt-to-equity ratio of 0.53, a current ratio of 0.77 and a quick ratio of 0.77. The stock has a market cap of $7.64 billion, a price-to-earnings ratio of 13.73 and a beta of 0.88. The stock’s 50-day moving average is $129.91 and its 200 day moving average is $119.01.

BOK Financial (NASDAQ:BOKF) last announced its quarterly earnings data on Friday, January 16th. The bank reported $2.48 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.32. The company had revenue of $589.56 million for the quarter, compared to analyst estimates of $550.05 million. BOK Financial had a return on equity of 9.36% and a net margin of 17.10%.During the same quarter in the previous year, the company earned $2.12 EPS. As a group, analysts predict that BOK Financial Corporation will post 8.83 earnings per share for the current fiscal year.

BOK Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 5th. Investors of record on Thursday, February 19th were paid a $0.63 dividend. The ex-dividend date was Thursday, February 19th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.0%. BOK Financial’s payout ratio is 27.51%.

Insiders Place Their Bets

In other BOK Financial news, Director Steven Bangert sold 2,500 shares of the stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $137.71, for a total value of $344,275.00. Following the completion of the transaction, the director owned 34,916 shares in the company, valued at approximately $4,808,282.36. This represents a 6.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 56.94% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BOK Financial

Institutional investors and hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada boosted its holdings in BOK Financial by 11.3% during the first quarter. Royal Bank of Canada now owns 3,201 shares of the bank’s stock worth $333,000 after buying an additional 324 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in BOK Financial by 14.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 90,171 shares of the bank’s stock worth $9,391,000 after buying an additional 11,057 shares during the period. Jane Street Group LLC increased its holdings in BOK Financial by 344.0% in the first quarter. Jane Street Group LLC now owns 20,326 shares of the bank’s stock valued at $2,117,000 after buying an additional 15,748 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of BOK Financial during the 1st quarter valued at approximately $159,000. Finally, Geode Capital Management LLC lifted its position in shares of BOK Financial by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 440,071 shares of the bank’s stock valued at $42,970,000 after acquiring an additional 3,155 shares during the period. 34.44% of the stock is owned by institutional investors and hedge funds.

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.