BOK Financial (NASDAQ:BOKF) Share Price Breaks Above Fifty Day Moving Average – Here’s What Happened

BOK Financial Corporation (NASDAQ:BOKF) shares passed above its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $131.49 and traded as high as $132.98. BOK Financial shares last traded at $132.37, with a volume of 597,329 shares traded.

Analyst Ratings Changes

BOKF has been the subject of several research reports. Royal Bank Of Canada reduced their price objective on BOK Financial from $149.00 to $146.00 and set a “sector perform” rating for the company in a report on Friday, October 9th. Hovde Group started coverage on BOK Financial in a report on Friday, September 11th. They issued a “market perform” rating and a $143.00 target price on the stock. Citigroup lowered their price objective on shares of BOK Financial from $146.00 to $140.00 and set a “neutral” rating on the stock in a research note on Thursday, October 22nd. Weiss Ratings reissued a “buy (b)” rating on shares of BOK Financial in a research note on Friday, September 4th. Finally, Keefe, Bruyette & Woods raised their target price on shares of BOK Financial from $143.00 to $146.00 and gave the company a “market perform” rating in a report on Friday, July 24th. Two equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $143.27.

BOK Financial Trading Down 1.6%

The business has a fifty day simple moving average of $131.30 and a 200 day simple moving average of $132.89. The stock has a market cap of $7.91 billion, a price-to-earnings ratio of 11.81 and a beta of 0.82. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.78 and a current ratio of 0.78.

BOK Financial (NASDAQ:BOKF) last released its quarterly earnings results on Monday, October 19th. The bank reported $2.64 earnings per share for the quarter, topping analysts’ consensus estimates of $2.52 by $0.12. BOK Financial had a return on equity of 10.41% and a net margin of 19.53%. The company had revenue of $561.45 million during the quarter, compared to analysts’ expectations of $571.40 million. During the same period in the previous year, the firm posted $2.22 earnings per share. The business’s revenue for the quarter was down 34.3% compared to the same quarter last year. As a group, equities analysts anticipate that BOK Financial Corporation will post 10.41 EPS for the current year.

BOK Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th were given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Wednesday, August 19th. BOK Financial’s dividend payout ratio (DPR) is currently 22.85%.

Insider Transactions at BOK Financial

In other BOK Financial news, EVP Brad A. Vincent sold 4,015 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $145.42, for a total transaction of $583,861.30. Following the sale, the executive vice president directly owned 6,031 shares of the company’s stock, valued at $877,028.02. This trade represents a 39.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven Bangert sold 1,250 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $143.96, for a total transaction of $179,950.00. Following the sale, the director directly owned 31,710 shares in the company, valued at $4,564,971.60. This represents a 3.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 63.53% of the company’s stock.

Hedge Funds Weigh In On BOK Financial

Several institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in BOK Financial by 1.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,708,525 shares of the bank’s stock worth $346,843,000 after buying an additional 34,833 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of BOK Financial by 1.8% during the 1st quarter. Bank of New York Mellon Corp now owns 163,304 shares of the bank’s stock valued at $20,913,000 after acquiring an additional 2,915 shares during the last quarter. Bank of America Corp DE increased its stake in shares of BOK Financial by 135.8% during the 1st quarter. Bank of America Corp DE now owns 139,910 shares of the bank’s stock valued at $17,917,000 after acquiring an additional 80,582 shares during the last quarter. Quantinno Capital Management LP increased its stake in shares of BOK Financial by 22.0% during the 1st quarter. Quantinno Capital Management LP now owns 81,913 shares of the bank’s stock valued at $10,490,000 after acquiring an additional 14,769 shares during the last quarter. Finally, Edgestream Partners L.P. purchased a new position in shares of BOK Financial during the 1st quarter worth about $6,248,000. Hedge funds and other institutional investors own 34.44% of the company’s stock.

BOK Financial Company Profile

BOK Financial Corporation is a financial services holding company headquartered in Tulsa, Oklahoma. Through its banking and financial-services subsidiaries, the company serves businesses, institutions, individuals and families across the central and southwestern United States.

The company provides commercial banking, consumer banking, wealth management and capital markets services. Its offerings include deposit accounts, commercial and consumer loans, treasury and cash-management services, investment management, trust and private banking, mortgage lending, investment banking, securities brokerage and institutional trading.

BOK Financial operates under banking brands including Bank of Oklahoma, Bank of Texas and Bank of Albuquerque, with additional operations serving customers in Colorado, Kansas, Missouri and Arkansas.