BOK Financial (NASDAQ:BOKF) Sets New 1-Year High – What’s Next?

Shares of BOK Financial Co. (NASDAQ:BOKF) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $115.00 and last traded at $114.53, with a volume of 3989 shares. The stock had previously closed at $106.99.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on BOKF shares. StockNews.com raised BOK Financial from a “sell” rating to a “hold” rating in a report on Friday, July 26th. Keefe, Bruyette & Woods raised their price target on BOK Financial from $100.00 to $110.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. Royal Bank of Canada raised their price target on BOK Financial from $111.00 to $113.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 23rd. Wedbush restated a “neutral” rating and issued a $115.00 price objective on shares of BOK Financial in a research report on Tuesday, October 22nd. Finally, DA Davidson reduced their price objective on shares of BOK Financial from $124.00 to $123.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $112.20.

BOK Financial Price Performance

The stock has a market capitalization of $7.49 billion, a PE ratio of 14.72 and a beta of 1.17. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.87. The company’s 50 day simple moving average is $105.42 and its 200 day simple moving average is $98.32.

BOK Financial (NASDAQ:BOKF) last released its earnings results on Monday, October 21st. The bank reported $2.18 EPS for the quarter, topping the consensus estimate of $1.98 by $0.20. BOK Financial had a net margin of 13.78% and a return on equity of 9.67%. The firm had revenue of $888.50 million during the quarter, compared to analysts’ expectations of $509.43 million. During the same period in the previous year, the company earned $2.04 EPS. On average, equities analysts anticipate that BOK Financial Co. will post 7.95 earnings per share for the current year.

BOK Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Friday, November 15th. This is a boost from BOK Financial’s previous quarterly dividend of $0.55. This represents a $2.28 annualized dividend and a dividend yield of 1.95%. BOK Financial’s payout ratio is currently 30.26%.

Institutional Trading of BOK Financial

A number of institutional investors have recently added to or reduced their stakes in BOKF. Allspring Global Investments Holdings LLC lifted its holdings in BOK Financial by 4,370,260.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 218,518 shares of the bank’s stock worth $20,025,000 after buying an additional 218,513 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of BOK Financial by 6.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,176,031 shares of the bank’s stock valued at $199,405,000 after purchasing an additional 125,950 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in shares of BOK Financial in the 2nd quarter valued at about $3,429,000. State Board of Administration of Florida Retirement System raised its stake in shares of BOK Financial by 71.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 37,532 shares of the bank’s stock valued at $3,168,000 after purchasing an additional 15,626 shares in the last quarter. Finally, Sei Investments Co. raised its stake in shares of BOK Financial by 304.9% in the 2nd quarter. Sei Investments Co. now owns 20,602 shares of the bank’s stock valued at $1,888,000 after purchasing an additional 15,514 shares in the last quarter. 34.44% of the stock is owned by hedge funds and other institutional investors.

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.