Truist Financial Upgrades BOK Financial (NASDAQ:BOKF) to Buy

Truist Financial upgraded shares of BOK Financial (NASDAQ:BOKF) from a hold rating to a buy rating in a research note issued to investors on Friday, Marketbeat reports. The brokerage currently has $123.00 price target on the bank’s stock, up from their prior price target of $112.00.

Several other analysts have also weighed in on the company. StockNews.com raised BOK Financial from a sell rating to a hold rating in a research note on Friday, July 26th. Keefe, Bruyette & Woods lifted their price target on shares of BOK Financial from $100.00 to $110.00 and gave the company a market perform rating in a report on Thursday, July 25th. Stephens reissued an equal weight rating and issued a $104.00 price objective on shares of BOK Financial in a research note on Tuesday, July 23rd. Wedbush raised their target price on shares of BOK Financial from $94.00 to $115.00 and gave the company a neutral rating in a research report on Tuesday, July 23rd. Finally, Hovde Group upped their price target on shares of BOK Financial from $106.00 to $122.00 and gave the stock an outperform rating in a report on Wednesday, July 24th. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $109.10.

BOK Financial Trading Up 0.7 %

Shares of BOK Financial stock opened at $106.62 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 1.27. BOK Financial has a 12-month low of $62.42 and a 12-month high of $108.01. The company has a market capitalization of $6.88 billion, a price-to-earnings ratio of 15.54 and a beta of 1.18. The firm’s 50-day moving average price is $102.15 and its two-hundred day moving average price is $94.35.

BOK Financial (NASDAQ:BOKF) last announced its quarterly earnings data on Monday, July 22nd. The bank reported $2.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.65. BOK Financial had a net margin of 13.92% and a return on equity of 9.94%. The business had revenue of $871.84 million for the quarter, compared to analysts’ expectations of $520.43 million. During the same period last year, the firm posted $2.27 earnings per share. On average, analysts forecast that BOK Financial will post 7.78 earnings per share for the current fiscal year.

BOK Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Thursday, August 15th were issued a $0.55 dividend. The ex-dividend date was Thursday, August 15th. This represents a $2.20 dividend on an annualized basis and a yield of 2.06%. BOK Financial’s payout ratio is 32.07%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of BOKF. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of BOK Financial during the second quarter worth about $39,000. Covestor Ltd boosted its stake in shares of BOK Financial by 361.8% in the 1st quarter. Covestor Ltd now owns 471 shares of the bank’s stock valued at $43,000 after purchasing an additional 369 shares during the last quarter. Olistico Wealth LLC acquired a new stake in shares of BOK Financial during the second quarter worth $46,000. Bessemer Group Inc. acquired a new stake in shares of BOK Financial during the first quarter worth $86,000. Finally, Quest Partners LLC bought a new position in BOK Financial during the fourth quarter worth $134,000. 34.44% of the stock is owned by institutional investors and hedge funds.

About BOK Financial

BOK Financial Corporation operates as the financial holding company for BOKF, NA that provides various financial products and services in Oklahoma, Texas, New Mexico, Northwest Arkansas, Colorado, Arizona, and Kansas/Missouri. It operates through three segments: Commercial Banking, Consumer Banking, and Wealth Management.