BOK Financial (NASDAQ:BOKF) Shares Pass Above 200-Day Moving Average – Here’s What Happened

BOK Financial Corporation (NASDAQ:BOKF)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $133.93 and traded as high as $138.40. BOK Financial shares last traded at $138.29, with a volume of 179,363 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BOKF. Wells Fargo & Company boosted their target price on shares of BOK Financial from $138.00 to $148.00 and gave the stock an “equal weight” rating in a research report on Monday, August 10th. DA Davidson reaffirmed a “neutral” rating and set a $150.00 price target on shares of BOK Financial in a report on Tuesday, July 21st. Benchmark initiated coverage on shares of BOK Financial in a research note on Wednesday, June 24th. They set a “hold” rating on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of BOK Financial from $143.00 to $146.00 and gave the stock a “market perform” rating in a report on Friday, July 24th. Finally, Barclays upped their price objective on shares of BOK Financial from $150.00 to $155.00 and gave the company an “equal weight” rating in a research report on Monday, August 3rd. Two research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $140.36.

BOK Financial Stock Performance

The company has a market capitalization of $8.40 billion, a PE ratio of 13.03 and a beta of 0.80. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.78 and a current ratio of 0.78. The company has a 50 day moving average price of $140.55 and a 200 day moving average price of $133.93.

BOK Financial (NASDAQ:BOKF) last issued its quarterly earnings results on Monday, July 20th. The bank reported $2.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.09). The company had revenue of $602.54 million during the quarter, compared to the consensus estimate of $568.08 million. BOK Financial had a return on equity of 10.09% and a net margin of 18.97%.The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.19 EPS. Equities analysts forecast that BOK Financial Corporation will post 10.32 EPS for the current year.

BOK Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th will be given a $0.63 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $2.52 annualized dividend and a dividend yield of 1.8%. BOK Financial’s payout ratio is presently 23.75%.

Insider Transactions at BOK Financial

In other news, EVP Brad A. Vincent sold 4,015 shares of the company’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $145.42, for a total value of $583,861.30. Following the sale, the executive vice president owned 6,031 shares in the company, valued at approximately $877,028.02. This represents a 39.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Steven Bangert sold 1,250 shares of the stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $143.96, for a total transaction of $179,950.00. Following the transaction, the director directly owned 31,710 shares in the company, valued at $4,564,971.60. The trade was a 3.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 5,274 shares of company stock worth $765,067. Company insiders own 63.53% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. California State Teachers Retirement System lifted its position in shares of BOK Financial by 10,240.3% in the 2nd quarter. California State Teachers Retirement System now owns 3,199,795 shares of the bank’s stock worth $444,388,000 after buying an additional 3,168,850 shares during the last quarter. Cibc World Markets Corp bought a new stake in shares of BOK Financial during the 4th quarter valued at about $130,994,000. Freestone Grove Partners LP raised its stake in BOK Financial by 407.0% during the third quarter. Freestone Grove Partners LP now owns 363,610 shares of the bank’s stock worth $40,521,000 after acquiring an additional 291,894 shares during the period. Norges Bank acquired a new stake in BOK Financial during the fourth quarter worth about $32,755,000. Finally, Cibc World Market Inc. lifted its holdings in BOK Financial by 39.0% in the fourth quarter. Cibc World Market Inc. now owns 908,800 shares of the bank’s stock worth $107,656,000 after acquiring an additional 254,800 shares during the last quarter. Institutional investors and hedge funds own 34.44% of the company’s stock.

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.