BOK Financial (NASDAQ:BOKF) Reaches New 12-Month High – Here’s Why

BOK Financial Co. (NASDAQ:BOKF)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $119.71 and last traded at $119.71, with a volume of 3656 shares. The stock had previously closed at $117.53.

Analyst Ratings Changes

BOKF has been the subject of a number of research reports. Stephens lowered their target price on BOK Financial from $116.00 to $114.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 23rd. DA Davidson dropped their target price on shares of BOK Financial from $124.00 to $123.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Wells Fargo & Company boosted their price objective on shares of BOK Financial from $102.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Monday, October 28th. Wedbush reiterated a “neutral” rating and issued a $115.00 price objective on shares of BOK Financial in a research report on Tuesday, October 22nd. Finally, Royal Bank of Canada upped their price target on BOK Financial from $111.00 to $113.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 23rd. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, BOK Financial presently has a consensus rating of “Hold” and an average target price of $112.20.

BOK Financial Stock Down 0.4 %

The firm has a market capitalization of $7.65 billion, a price-to-earnings ratio of 16.40 and a beta of 1.17. The business’s 50-day moving average is $109.03 and its two-hundred day moving average is $100.75. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.79 and a current ratio of 0.79.

BOK Financial (NASDAQ:BOKF) last announced its quarterly earnings results on Monday, October 21st. The bank reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.20. The company had revenue of $888.50 million during the quarter, compared to analyst estimates of $509.43 million. BOK Financial had a net margin of 13.78% and a return on equity of 9.67%. During the same quarter in the previous year, the business earned $2.04 EPS. On average, equities analysts anticipate that BOK Financial Co. will post 8.08 earnings per share for the current year.

BOK Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 1.91%. The ex-dividend date is Friday, November 15th. This is a boost from BOK Financial’s previous quarterly dividend of $0.55. BOK Financial’s payout ratio is 31.36%.

Insider Activity at BOK Financial

In related news, Director Steven Bangert sold 2,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $117.83, for a total value of $235,660.00. Following the completion of the transaction, the director now directly owns 44,709 shares of the company’s stock, valued at approximately $5,268,061.47. This represents a 4.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 56.94% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of BOKF. Sei Investments Co. acquired a new position in BOK Financial during the 1st quarter worth approximately $468,000. Bessemer Group Inc. bought a new position in BOK Financial in the first quarter valued at $86,000. Price T Rowe Associates Inc. MD increased its stake in BOK Financial by 5.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,375 shares of the bank’s stock valued at $1,323,000 after buying an additional 797 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its stake in BOK Financial by 23.3% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 39,174 shares of the bank’s stock valued at $3,604,000 after buying an additional 7,412 shares during the last quarter. Finally, Walleye Trading LLC bought a new stake in BOK Financial during the 1st quarter worth about $290,000. 34.44% of the stock is owned by institutional investors and hedge funds.

BOK Financial Company Profile

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.