Wells Fargo & Company Boosts BOK Financial (NASDAQ:BOKF) Price Target to $100.00

BOK Financial (NASDAQ:BOKFGet Rating) had its price objective lifted by Wells Fargo & Company from $85.00 to $100.00 in a research report report published on Thursday morning, The Fly reports. The firm currently has an overweight rating on the bank’s stock.

A number of other equities research analysts have also issued reports on BOKF. Truist Financial dropped their price objective on shares of BOK Financial from $91.00 to $87.00 in a report on Wednesday, June 15th. StockNews.com initiated coverage on shares of BOK Financial in a report on Thursday, March 31st. They issued a hold rating for the company. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, BOK Financial currently has a consensus rating of Hold and a consensus target price of $96.83.

BOK Financial Price Performance

Shares of NASDAQ BOKF opened at $88.03 on Thursday. The firm has a 50-day simple moving average of $79.42 and a 200-day simple moving average of $90.54. The stock has a market capitalization of $6.00 billion, a price-to-earnings ratio of 11.34 and a beta of 1.36. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.03. BOK Financial has a 52 week low of $70.21 and a 52 week high of $120.20.

BOK Financial (NASDAQ:BOKFGet Rating) last issued its earnings results on Wednesday, July 27th. The bank reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.53. The business had revenue of $442.60 million during the quarter, compared to analysts’ expectations of $419.97 million. BOK Financial had a net margin of 29.37% and a return on equity of 10.19%. The company’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same period in the prior year, the business earned $2.40 earnings per share. On average, equities analysts predict that BOK Financial will post 6.03 earnings per share for the current fiscal year.

BOK Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 25th. Shareholders of record on Wednesday, May 11th were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend was Tuesday, May 10th. This is a positive change from BOK Financial’s previous quarterly dividend of $0.40. BOK Financial’s dividend payout ratio (DPR) is 27.32%.

Insiders Place Their Bets

In other BOK Financial news, Director Steven Bangert sold 3,000 shares of the stock in a transaction dated Friday, May 20th. The shares were sold at an average price of $80.16, for a total transaction of $240,480.00. Following the completion of the transaction, the director now owns 76,852 shares of the company’s stock, valued at $6,160,456.32. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Steven G. Bradshaw sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 26th. The shares were sold at an average price of $85.01, for a total value of $850,100.00. Following the completion of the transaction, the director now owns 74,029 shares of the company’s stock, valued at $6,293,205.29. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Steven Bangert sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, May 20th. The shares were sold at an average price of $80.16, for a total transaction of $240,480.00. Following the completion of the transaction, the director now directly owns 76,852 shares of the company’s stock, valued at approximately $6,160,456.32. The disclosure for this sale can be found here. 56.94% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. National Bank of Canada FI purchased a new position in shares of BOK Financial in the second quarter valued at approximately $79,000. Reinhart Partners Inc. boosted its stake in shares of BOK Financial by 0.8% in the second quarter. Reinhart Partners Inc. now owns 233,902 shares of the bank’s stock valued at $17,679,000 after purchasing an additional 1,868 shares during the period. Strs Ohio boosted its stake in shares of BOK Financial by 20.1% in the second quarter. Strs Ohio now owns 20,651 shares of the bank’s stock valued at $1,560,000 after purchasing an additional 3,454 shares during the period. Van Berkom & Associates Inc. boosted its stake in shares of BOK Financial by 9.9% in the second quarter. Van Berkom & Associates Inc. now owns 16,189 shares of the bank’s stock valued at $1,224,000 after purchasing an additional 1,453 shares during the period. Finally, Elk River Wealth Management LLC boosted its stake in shares of BOK Financial by 33.1% in the second quarter. Elk River Wealth Management LLC now owns 4,338 shares of the bank’s stock valued at $328,000 after purchasing an additional 1,080 shares during the period. Hedge funds and other institutional investors own 39.12% of the company’s stock.

About BOK Financial

(Get Rating)

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.

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