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

Shares of 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. The stock had previously closed at $122.64.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on BOKF shares. Barclays increased their price objective on shares of BOK Financial from $120.00 to $125.00 and gave the company an “equal weight” rating in a research note on Friday, December 19th. Royal Bank Of Canada upped their target price on shares of BOK Financial from $110.00 to $124.00 and gave the company a “sector perform” rating in a research note on Friday, October 10th. Credit Suisse Group set a $116.00 price target on shares of BOK Financial in a research note on Wednesday, October 22nd. Wall Street Zen downgraded BOK Financial from a “hold” rating to a “sell” rating in a report on Sunday, October 19th. Finally, Hovde Group cut BOK Financial from an “outperform” rating to a “market perform” rating and set a $129.00 target price for the company. in a report on Friday, December 12th. Three investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, BOK Financial currently has an average rating of “Hold” and an average target price of $117.91.

BOK Financial Stock Up 2.0%

The company has a market cap of $7.91 billion, a P/E ratio of 14.91 and a beta of 0.88. 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 business’s 50 day moving average price is $115.64 and its 200-day moving average price is $110.26.

BOK Financial (NASDAQ:BOKF) last released its quarterly earnings results on Monday, October 20th. The bank reported $2.22 earnings per share for the quarter, beating 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 firm had revenue of $548.36 million during the quarter, compared to analysts’ expectations of $539.48 million. During the same period last year, the firm posted $2.18 EPS. On average, analysts anticipate that BOK Financial Corporation will post 8.83 earnings per share for the current fiscal year.

BOK Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Wednesday, November 12th were paid a $0.63 dividend. 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 30.04%.

Insider Transactions at BOK Financial

In other BOK Financial news, Director Steven Bangert sold 1,500 shares of the stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $106.29, for a total transaction of $159,435.00. Following the sale, the director owned 38,416 shares of the company’s stock, valued at $4,083,236.64. This represents a 3.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders have sold 3,500 shares of company stock worth $380,395. 60.14% of the stock is owned by corporate insiders.

Institutional Trading of BOK Financial

Several hedge funds have recently modified their holdings of the stock. Versant Capital Management Inc increased its holdings 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 purchasing an additional 123 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in BOK Financial in the 3rd quarter valued at $41,000. Quent Capital LLC bought a new position in BOK Financial in the 3rd quarter valued at $47,000. EverSource Wealth Advisors LLC increased its stake in shares of BOK Financial by 109.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 500 shares of the bank’s stock valued at $49,000 after buying an additional 261 shares during the period. Finally, CIBC Private Wealth Group LLC bought a new stake in shares of BOK Financial during the third quarter worth $55,000. 34.44% of the stock is 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.