BOK Financial (NASDAQ:BOKF) Reaches New 12-Month High After Analyst Upgrade

Shares of BOK Financial Co. (NASDAQ:BOKF) reached a new 52-week high on Monday after Truist Financial raised their price target on the stock from $90.00 to $99.00. Truist Financial currently has a hold rating on the stock. BOK Financial traded as high as $92.75 and last traded at $90.73, with a volume of 6162 shares traded. The stock had previously closed at $92.00.

Several other brokerages have also commented on BOKF. Citigroup raised their price target on BOK Financial from $90.00 to $92.00 and gave the company a “neutral” rating in a research note on Wednesday, March 13th. Stephens lifted their target price on BOK Financial from $96.00 to $98.00 and gave the company an “equal weight” rating in a research note on Thursday, January 25th. Royal Bank of Canada lifted their target price on BOK Financial from $89.00 to $93.00 and gave the company a “sector perform” rating in a research note on Thursday, January 25th. StockNews.com lowered BOK Financial from a “hold” rating to a “sell” rating in a research note on Thursday, March 21st. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $94.00 target price on shares of BOK Financial in a research note on Wednesday, March 27th. One investment analyst has rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $91.75.

Insider Buying and Selling

In related news, Director Steven Bangert sold 3,000 shares of BOK Financial stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $81.59, for a total transaction of $244,770.00. Following the completion of the sale, the director now owns 50,985 shares of the company’s stock, valued at $4,159,866.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 59.72% of the company’s stock.

Institutional Investors Weigh In On BOK Financial

Institutional investors and hedge funds have recently modified their holdings of the company. Covestor Ltd lifted its holdings in shares of BOK Financial by 214.0% during the third quarter. Covestor Ltd now owns 314 shares of the bank’s stock worth $25,000 after purchasing an additional 214 shares during the period. Comerica Bank acquired a new position in BOK Financial in the third quarter valued at approximately $28,000. KBC Group NV acquired a new position in BOK Financial in the fourth quarter valued at approximately $31,000. VisionPoint Advisory Group LLC lifted its holdings in BOK Financial by 102.1% in the third quarter. VisionPoint Advisory Group LLC now owns 380 shares of the bank’s stock valued at $30,000 after acquiring an additional 192 shares during the period. Finally, Quarry LP lifted its holdings in BOK Financial by 736.7% in the first quarter. Quarry LP now owns 410 shares of the bank’s stock valued at $35,000 after acquiring an additional 361 shares during the period. Institutional investors and hedge funds own 34.44% of the company’s stock.

BOK Financial Price Performance

The company has a market capitalization of $5.78 billion, a price-to-earnings ratio of 11.19 and a beta of 1.21. The stock has a fifty day simple moving average of $85.60 and a 200-day simple moving average of $80.28. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.85 and a quick ratio of 0.85.

BOK Financial (NASDAQ:BOKF) last announced its quarterly earnings results on Wednesday, January 24th. The bank reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.49). BOK Financial had a net margin of 16.94% and a return on equity of 11.46%. The company had revenue of $843.21 million during the quarter, compared to analyst estimates of $485.87 million. During the same period in the previous year, the firm posted $2.51 earnings per share. On average, equities research analysts anticipate that BOK Financial Co. will post 7.59 EPS for the current year.

BOK Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th were given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date was Tuesday, February 13th. BOK Financial’s dividend payout ratio (DPR) is presently 27.50%.

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.