BOK Financial (NASDAQ:BOKF) Reaches New 1-Year High – Here’s What Happened

BOK Financial Corporation (NASDAQ:BOKF) hit a new 52-week high during trading on Wednesday . The stock traded as high as $125.46 and last traded at $125.3450, with a volume of 118527 shares changing hands. The stock had previously closed at $122.64.

Wall Street Analyst Weigh In

A number of analysts have issued reports on BOKF shares. Credit Suisse Group set a $116.00 target price on shares of BOK Financial in a research note on Wednesday, October 22nd. Barclays raised their price target on shares of BOK Financial from $120.00 to $125.00 and gave the company an “equal weight” rating in a report on Friday, December 19th. Weiss Ratings reiterated a “buy (b-)” rating on shares of BOK Financial in a report on Wednesday, October 8th. Royal Bank Of Canada increased their target price on shares of BOK Financial from $110.00 to $124.00 and gave the stock a “sector perform” rating in a research report on Friday, October 10th. Finally, Jefferies Financial Group set a $135.00 price target on BOK Financial and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $117.91.

BOK Financial Price Performance

The company has a debt-to-equity ratio of 0.54, a current ratio of 0.76 and a quick ratio of 0.76. The stock’s fifty day simple moving average is $115.64 and its 200-day simple moving average is $110.26. The company has a market capitalization of $7.91 billion, a P/E ratio of 14.91 and a beta of 0.88.

BOK Financial (NASDAQ:BOKF) last posted its quarterly earnings data on Monday, October 20th. The bank reported $2.22 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.12. BOK Financial had a return on equity of 9.24% and a net margin of 15.98%.The business had revenue of $548.36 million for the quarter, compared to analyst estimates of $539.48 million. During the same period in the previous year, the company posted $2.18 earnings per share. On average, equities analysts forecast that BOK Financial Corporation will post 8.83 earnings per share for the current fiscal year.

BOK Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Wednesday, November 12th were issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.0%. This is a boost from BOK Financial’s previous quarterly dividend of $0.57. The ex-dividend date was Wednesday, November 12th. BOK Financial’s dividend payout ratio is presently 30.04%.

Insider Activity

In related news, Director Steven Bangert sold 1,000 shares of the business’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $114.89, for a total transaction of $114,890.00. Following the transaction, the director owned 37,416 shares of the company’s stock, valued at approximately $4,298,724.24. The trade was a 2.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have sold a total of 3,500 shares of company stock valued at $380,395 in the last 90 days. Company insiders own 60.14% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Versant Capital Management Inc lifted its stake in shares of BOK Financial by 92.5% in the third quarter. Versant Capital Management Inc now owns 256 shares of the bank’s stock valued at $29,000 after buying an additional 123 shares during the period. Aster Capital Management DIFC Ltd bought a new stake in shares of BOK Financial in the 3rd quarter worth approximately $41,000. Quent Capital LLC bought a new stake in shares of BOK Financial in the 3rd quarter worth approximately $47,000. CIBC Private Wealth Group LLC acquired a new stake in shares of BOK Financial during the 3rd quarter worth approximately $55,000. Finally, Olistico Wealth LLC bought a new stake in shares of BOK Financial during the fourth quarter valued at approximately $59,000. Institutional investors own 34.44% of the company’s stock.

BOK Financial Company Profile

BOK Financial Corporation (NASDAQ: BOKF), headquartered in Tulsa, Oklahoma, is a diversified financial services holding company serving businesses, professionals and individuals across the central and western United States. Through its banking subsidiary, BOK Financial offers a full suite of commercial banking, treasury and payment management services, as well as consumer deposit and lending solutions. The company’s offerings also encompass wealth management, trust and asset management, investment banking, and insurance products designed to meet the needs of both retail and institutional clients.

The roots of BOK Financial date back to the founding of the Bank of Oklahoma in 1910.