BOK Financial (NASDAQ:BOKF) Stock Gets Price Target Cut from Citigroup

BOK Financial (NASDAQ:BOKF) had its target price cut by Citigroup from $146.00 to $140.00 in a report issued on Thursday,Benzinga reports. They currently have a neutral rating on the bank’s stock.

Several other brokerages also recently weighed in on BOKF. Royal Bank Of Canada lowered their target price on shares of BOK Financial from $149.00 to $146.00 and set a “sector perform” rating on the stock in a report on Friday, October 9th. Barclays boosted their price objective on shares of BOK Financial from $150.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Monday, August 3rd. DA Davidson set a $145.00 price objective on BOK Financial and gave the company a “neutral” rating in a research report on Tuesday. Hovde Group initiated coverage on shares of BOK Financial in a research report on Friday, September 11th. They set a “market perform” rating and a $143.00 target price on the stock. Finally, Benchmark initiated coverage on shares of BOK Financial in a research note on Wednesday, June 24th. They set a “hold” rating for the company. Two analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $143.27.

BOK Financial Stock Performance

Shares of BOKF stock opened at $128.61 on Thursday. The stock’s 50-day moving average is $132.42 and its two-hundred day moving average is $134.43. The firm has a market cap of $7.82 billion, a price-to-earnings ratio of 11.66 and a beta of 0.82. BOK Financial has a 1 year low of $102.72 and a 1 year high of $146.84. 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 posted its earnings results on Monday, October 19th. The bank reported $2.64 EPS 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 business had revenue of $561.45 million for the quarter, compared to analysts’ expectations of $571.40 million. During the same quarter in the previous year, the firm earned $2.22 earnings per share. The business’s revenue was down 34.3% compared to the same quarter last year. Analysts predict that BOK Financial will post 10.41 earnings per share for the current year.

BOK Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th were issued a dividend of $0.63 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $2.52 annualized dividend and a dividend yield of 2.0%. BOK Financial’s payout ratio is 22.85%.

Insider Activity at BOK Financial

In related news, EVP Brad A. Vincent sold 4,015 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $145.42, for a total transaction of $583,861.30. Following the completion of the transaction, the executive vice president owned 6,031 shares of the company’s stock, valued at $877,028.02. This trade represents a 39.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Steven Bangert sold 1,250 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $143.96, for a total transaction of $179,950.00. Following the completion of the sale, the director owned 31,710 shares in the company, valued at $4,564,971.60. The trade was a 3.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 63.53% of the company’s stock.

Institutional Inflows and Outflows

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

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.