BOK Financial (NASDAQ:BOKF) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

BOK Financial Corporation (NASDAQ:BOKF)’s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $128.01 and traded as high as $133.01. BOK Financial shares last traded at $130.33, with a volume of 599,852 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on BOKF shares. Citigroup increased their target price on BOK Financial from $135.00 to $138.00 and gave the company a “neutral” rating in a research note on Thursday, April 23rd. Wells Fargo & Company lifted their price target on BOK Financial from $115.00 to $127.00 and gave the stock an “equal weight” rating in a research note on Monday, March 30th. DA Davidson upped their price objective on BOK Financial from $132.00 to $139.00 and gave the stock a “neutral” rating in a report on Wednesday, April 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of BOK Financial in a research report on Tuesday, June 9th. Finally, Barclays raised their price objective on BOK Financial from $135.00 to $145.00 and gave the company an “equal weight” rating in a report on Tuesday, April 7th. Three analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, BOK Financial currently has an average rating of “Hold” and an average target price of $134.91.

BOK Financial Stock Down 0.4%

The company has a market cap of $7.92 billion, a PE ratio of 13.19 and a beta of 0.81. The stock’s 50 day moving average price is $131.61 and its 200-day moving average price is $128.01. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.81 and a current ratio of 0.81.

BOK Financial (NASDAQ:BOKF) last released its earnings results on Monday, April 20th. The bank reported $2.58 EPS for the quarter, beating the consensus estimate of $2.30 by $0.28. The company had revenue of $553.82 million for the quarter, compared to analyst estimates 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 firm earned $1.86 EPS. On average, analysts predict that BOK Financial Corporation will post 10.24 earnings per share for the current year.

BOK Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th were given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.9%. The ex-dividend date was Wednesday, May 13th. BOK Financial’s dividend payout ratio is presently 25.51%.

Insider Activity

In other news, Director Steven Bangert sold 2,100 shares of the business’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $134.78, for a total value of $283,038.00. Following the completion of the sale, the director owned 32,816 shares of the company’s stock, valued at approximately $4,422,940.48. The trade was a 6.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Jeffrey A. Reid sold 1,200 shares of the stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $135.52, for a total value of $162,624.00. Following the sale, the executive vice president owned 8,116 shares of the company’s stock, valued at $1,099,880.32. This represents a 12.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 5,500 shares of company stock valued at $738,571. 63.53% of the stock is currently owned by insiders.

Hedge Funds Weigh In On BOK Financial

A number of large investors have recently bought and sold shares of the stock. Royal Bank of Canada boosted its stake in shares of BOK Financial by 11.3% during the first quarter. Royal Bank of Canada now owns 3,201 shares of the bank’s stock valued at $333,000 after purchasing an additional 324 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of BOK Financial by 14.0% in 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 raised its holdings in BOK Financial by 344.0% during the 1st 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 during the last quarter. Acadian Asset Management LLC bought a new stake in BOK Financial during the 1st quarter valued at $159,000. Finally, M&T Bank Corp purchased a new stake in BOK Financial during the 2nd quarter valued at $220,000. 34.44% of the stock is owned by hedge funds and other institutional investors.

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.