BOK Financial (NASDAQ:BOKF) Sets New 52-Week High – Still a Buy?

BOK Financial Corporation (NASDAQ:BOKF)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $138.42 and last traded at $135.1130, with a volume of 11636 shares traded. The stock had previously closed at $135.63.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on BOKF shares. Wall Street Zen raised shares of BOK Financial from a “sell” rating to a “hold” rating in a report on Saturday, January 17th. Barclays boosted their target price on BOK Financial from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 21st. Raymond James Financial reiterated an “outperform” rating and set a $140.00 price target on shares of BOK Financial in a research report on Tuesday, January 20th. Zacks Research upgraded shares of BOK Financial from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 22nd. Finally, Credit Suisse Group set a $116.00 target price on shares of BOK Financial in a research report on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, BOK Financial presently has an average rating of “Hold” and an average price target of $129.33.

BOK Financial Stock Down 1.6%

The stock has a market cap of $8.44 billion, a P/E ratio of 14.57 and a beta of 0.90. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.54. The company has a 50-day simple moving average of $125.29 and a two-hundred day simple moving average of $114.50.

BOK Financial (NASDAQ:BOKF) last posted its quarterly earnings results on Friday, January 16th. The bank reported $2.48 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.32. The company had revenue of $589.56 million during the quarter, compared to analyst estimates of $550.05 million. BOK Financial had a net margin of 17.10% and a return on equity of 9.37%. During the same period in the prior year, the business posted $2.12 EPS. On average, equities analysts forecast that BOK Financial Corporation will post 8.83 EPS for the current year.

BOK Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 5th. Investors of record on Thursday, February 19th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Thursday, February 19th. This represents a $2.52 annualized dividend and a dividend yield of 1.9%. BOK Financial’s dividend payout ratio (DPR) is presently 27.51%.

Insider Transactions at BOK Financial

In other BOK Financial news, Director Steven Bangert sold 2,500 shares of the stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $137.71, for a total value of $344,275.00. Following the completion of the sale, the director owned 34,916 shares in the company, valued at approximately $4,808,282.36. This trade represents a 6.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last quarter, insiders sold 4,800 shares of company stock worth $638,448. 56.94% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of BOK Financial by 50.9% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 16,757 shares of the bank’s stock valued at $1,636,000 after purchasing an additional 5,650 shares in the last quarter. Envestnet Asset Management Inc. increased its position in BOK Financial by 11.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 27,263 shares of the bank’s stock valued at $2,662,000 after buying an additional 2,909 shares in the last quarter. Capital Fund Management S.A. bought a new position in BOK Financial during the 2nd quarter valued at approximately $1,149,000. Vanguard Personalized Indexing Management LLC raised its stake in BOK Financial by 44.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 3,983 shares of the bank’s stock valued at $391,000 after buying an additional 1,220 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in BOK Financial in the second quarter worth $1,211,000. 34.44% of the stock is currently owned by institutional investors.

About BOK Financial

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.