BOK Financial (NASDAQ:BOKF) Reaches New 52-Week High After Analyst Upgrade

BOK Financial Corporation (NASDAQ:BOKF) shares hit 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. The stock had previously closed at $141.22.

BOKF has been the topic of several other research reports. Raymond James Financial cut BOK Financial from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 1st. Royal Bank Of Canada increased their price target on BOK Financial from $147.00 to $149.00 and gave the company a “sector perform” rating in a research report on Wednesday. Benchmark assumed coverage on BOK Financial in a research note on Wednesday, June 24th. They set a “hold” rating on the stock. DA Davidson reaffirmed a “neutral” rating and set a $150.00 price objective on shares of BOK Financial in a report on Tuesday. Finally, Wells Fargo & Company upped their target price on shares of BOK Financial from $130.00 to $138.00 and gave the stock an “equal weight” rating in a research note on Monday, July 6th. Two research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $139.00.

Insider Activity at BOK Financial

In other news, Director Steven Bangert sold 2,100 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $134.78, for a total value of $283,038.00. Following the transaction, the director owned 32,816 shares in the company, valued at $4,422,940.48. The trade was a 6.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark B. Wade sold 1,700 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 20,361 shares of the company’s stock, valued at approximately $2,700,275.82. This 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 three months, insiders have sold 4,300 shares of company stock worth $575,947. Insiders own 63.53% of the company’s stock.

Institutional Investors Weigh In On BOK Financial

Hedge funds have recently made changes to their positions in the business. Everpar Advisors LLC bought a new position in BOK Financial during the second quarter valued at about $217,000. Versant Capital Management Inc increased its holdings in BOK Financial by 47.6% during the second quarter. Versant Capital Management Inc now owns 375 shares of the bank’s stock worth $52,000 after buying an additional 121 shares during the last quarter. Parallel Advisors LLC raised its position in BOK Financial by 1.3% in the first quarter. Parallel Advisors LLC now owns 6,237 shares of the bank’s stock worth $799,000 after acquiring an additional 80 shares during the period. Bank of America Corp DE raised its position in BOK Financial by 135.8% in the first quarter. Bank of America Corp DE now owns 139,910 shares of the bank’s stock worth $17,917,000 after acquiring an additional 80,582 shares during the period. Finally, Edgestream Partners L.P. purchased a new position in BOK Financial in the first quarter valued at about $6,248,000. 34.44% of the stock is currently owned by institutional investors.

BOK Financial Trading Up 0.8%

The stock’s 50 day simple moving average is $134.48 and its two-hundred day simple moving average is $131.59. The stock has a market capitalization of $8.64 billion, a PE ratio of 13.41 and a beta of 0.80. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.81 and a quick ratio of 0.81.

BOK Financial (NASDAQ:BOKF) last issued its quarterly earnings results on Monday, July 20th. The bank reported $2.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.68 by ($0.09). BOK Financial had a return on equity of 10.13% and a net margin of 18.97%.The company had revenue of $589.40 million for the quarter, compared to analysts’ expectations of $568.08 million. During the same quarter in the previous year, the business earned $2.19 EPS. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, sell-side analysts expect that BOK Financial Corporation will post 10.32 EPS for the current year.

BOK Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Wednesday, May 13th. BOK Financial’s dividend payout ratio is 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.