BOK Financial (NASDAQ:BOKF) Price Target Raised to $127.00

BOK Financial (NASDAQ:BOKF) had its price target lifted by Wells Fargo & Company from $115.00 to $127.00 in a research report released on Monday,Benzinga reports. The brokerage currently has an equal weight rating on the bank’s stock.

A number of other brokerages have also weighed in on BOKF. Wall Street Zen raised BOK Financial from a “sell” rating to a “hold” rating in a research report on Saturday, January 17th. Weiss Ratings reissued a “buy (b-)” rating on shares of BOK Financial in a research report on Wednesday, January 21st. Piper Sandler set a $135.00 price target on BOK Financial in a research note on Wednesday, January 21st. Barclays lifted their price objective on BOK Financial from $125.00 to $135.00 and gave the company an “equal weight” rating in a report on Wednesday, January 21st. Finally, Citigroup increased their target price on shares of BOK Financial from $124.00 to $135.00 and gave the stock a “neutral” rating in a report on Thursday, January 22nd. Three investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $130.33.

BOK Financial Stock Performance

BOKF stock opened at $128.09 on Monday. BOK Financial has a twelve month low of $85.07 and a twelve month high of $138.42. The firm has a market cap of $7.78 billion, a price-to-earnings ratio of 13.98 and a beta of 0.85. The business’s fifty day simple moving average is $129.55 and its two-hundred day simple moving average is $119.54. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.53.

BOK Financial (NASDAQ:BOKF) last issued its earnings results on Friday, January 16th. The bank reported $2.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.32. BOK Financial had a net margin of 17.10% and a return on equity of 9.36%. The firm had revenue of $589.56 million during the quarter, compared to analyst estimates of $550.05 million. During the same period in the previous year, the firm earned $2.12 earnings per share. Analysts predict that BOK Financial will post 8.83 earnings per share for the current year.

BOK Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 5th. Shareholders of record on Thursday, February 19th were given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Thursday, February 19th. BOK Financial’s dividend payout ratio (DPR) is 27.51%.

Insider Activity

In other news, Director Steven Bangert sold 2,500 shares of BOK Financial stock in a transaction 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 transaction, the director directly 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 56.94% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC increased its holdings in shares of BOK Financial by 173.1% in the fourth quarter. Farther Finance Advisors LLC now owns 213 shares of the bank’s stock valued at $25,000 after purchasing an additional 135 shares during the period. Versant Capital Management Inc lifted its holdings in shares of BOK Financial by 92.5% during the third quarter. Versant Capital Management Inc now owns 256 shares of the bank’s stock worth $29,000 after purchasing an additional 123 shares during the period. Pinnacle Holdings LLC acquired a new stake in shares of BOK Financial during the fourth quarter worth about $31,000. Aster Capital Management DIFC Ltd purchased a new stake in BOK Financial in the third quarter valued at approximately $41,000. Finally, Covestor Ltd boosted its position in BOK Financial by 108.0% in the fourth quarter. Covestor Ltd now owns 366 shares of the bank’s stock valued at $43,000 after buying an additional 190 shares during the last quarter. 34.44% of the stock is currently owned by hedge funds and other institutional investors.

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.