BOK Financial (NASDAQ:BOKF) Reaches New 52-Week High – What’s Next?

BOK Financial Co. (NASDAQ:BOKF) shares reached a new 52-week high on Monday . The stock traded as high as $119.71 and last traded at $119.71, with a volume of 3656 shares trading hands. The stock had previously closed at $117.53.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Wells Fargo & Company raised their price objective on shares of BOK Financial from $102.00 to $105.00 and gave the company an “equal weight” rating in a research report on Monday, October 28th. Royal Bank of Canada raised their target price on shares of BOK Financial from $111.00 to $113.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 23rd. DA Davidson reduced their target price on shares of BOK Financial from $124.00 to $123.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Wedbush reaffirmed a “neutral” rating and issued a $115.00 target price on shares of BOK Financial in a research note on Tuesday, October 22nd. Finally, Truist Financial raised shares of BOK Financial from a “hold” rating to a “buy” rating and raised their target price for the company from $112.00 to $123.00 in a research note on Friday, September 20th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $112.20.

BOK Financial Stock Up 1.7 %

The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $7.66 billion, a price-to-earnings ratio of 16.66 and a beta of 1.17. The stock’s fifty day moving average price is $108.72 and its 200-day moving average price is $100.57.

BOK Financial (NASDAQ:BOKF) last posted its quarterly earnings data on Monday, October 21st. The bank reported $2.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.20. BOK Financial had a net margin of 13.78% and a return on equity of 9.67%. The company had revenue of $888.50 million for the quarter, compared to the consensus estimate of $509.43 million. During the same period last year, the company earned $2.04 earnings per share. On average, sell-side analysts predict that BOK Financial Co. will post 8.08 earnings per share for the current fiscal year.

BOK Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Friday, November 15th will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 1.91%. This is an increase from BOK Financial’s previous quarterly dividend of $0.55. The ex-dividend date is Friday, November 15th. BOK Financial’s payout ratio is presently 31.36%.

Insider Buying and Selling

In related news, Director Steven Bangert sold 2,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $117.83, for a total transaction of $235,660.00. Following the transaction, the director now directly owns 44,709 shares in the company, valued at approximately $5,268,061.47. The trade was a 4.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 56.94% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BOK Financial

Institutional investors have recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. bought a new position in BOK Financial during the second quarter worth $39,000. Olistico Wealth LLC bought a new position in BOK Financial during the second quarter worth $46,000. Bessemer Group Inc. bought a new position in BOK Financial during the first quarter worth $86,000. KBC Group NV boosted its position in BOK Financial by 25.3% during the third quarter. KBC Group NV now owns 905 shares of the bank’s stock worth $95,000 after purchasing an additional 183 shares during the period. Finally, Prospera Private Wealth LLC bought a new position in BOK Financial during the third quarter worth $142,000. 34.44% of the stock is currently owned by institutional investors and hedge funds.

BOK Financial Company Profile

BOK Financial Corporation operates as the financial holding company for BOKF, NA that provides various financial products and services in Oklahoma, Texas, New Mexico, Northwest Arkansas, Colorado, Arizona, and Kansas/Missouri. It operates through three segments: Commercial Banking, Consumer Banking, and Wealth Management.