BOK Financial (NASDAQ:BOKF) Sets New 52-Week High Following Better-Than-Expected Earnings

Shares of BOK Financial Co. (NASDAQ:BOKF) reached a new 52-week high during mid-day trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $93.51 and last traded at $92.09, with a volume of 64555 shares changing hands. The stock had previously closed at $91.11.

The bank reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.19. BOK Financial had a net margin of 13.93% and a return on equity of 10.62%. The company had revenue of $806.91 million during the quarter, compared to analyst estimates of $473.70 million. During the same period in the prior year, the firm earned $2.43 earnings per share.

BOK Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th were issued a $0.55 dividend. The ex-dividend date was Tuesday, February 13th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.45%. BOK Financial’s dividend payout ratio is 32.07%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on BOKF shares. Hovde Group upped their target price on BOK Financial from $96.00 to $97.00 and gave the company a “market perform” rating in a report on Thursday. Truist Financial upped their target price on BOK Financial from $90.00 to $99.00 and gave the company a “hold” rating in a report on Monday, April 1st. Royal Bank of Canada upped their target price on BOK Financial from $94.00 to $98.00 and gave the company a “sector perform” rating in a report on Thursday. Raymond James reiterated an “outperform” rating and issued a $105.00 target price (up previously from $103.00) on shares of BOK Financial in a report on Thursday. Finally, Citigroup increased their price objective on BOK Financial from $90.00 to $92.00 and gave the stock a “neutral” rating in a report on Wednesday, March 13th. One analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $97.30.

Insider Buying and Selling at BOK Financial

In other BOK Financial news, Director Steven Bangert sold 3,000 shares of the stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $81.59, for a total transaction of $244,770.00. Following the transaction, the director now owns 50,985 shares in the company, valued at $4,159,866.15. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 56.94% of the company’s stock.

Hedge Funds Weigh In On BOK Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Covestor Ltd grew its holdings in BOK Financial by 214.0% during the third quarter. Covestor Ltd now owns 314 shares of the bank’s stock valued at $25,000 after purchasing an additional 214 shares during the last quarter. VisionPoint Advisory Group LLC lifted its position in BOK Financial by 102.1% in the third quarter. VisionPoint Advisory Group LLC now owns 380 shares of the bank’s stock worth $30,000 after purchasing an additional 192 shares during the period. GAMMA Investing LLC bought a new position in BOK Financial in the fourth quarter worth $41,000. GHP Investment Advisors Inc. bought a new position in BOK Financial in the third quarter worth $65,000. Finally, Mitsubishi UFJ Trust & Banking Corp bought a new position in BOK Financial in the third quarter worth $78,000. Institutional investors and hedge funds own 34.44% of the company’s stock.

BOK Financial Stock Performance

The stock has a market capitalization of $5.81 billion, a P/E ratio of 13.11 and a beta of 1.21. The firm has a 50-day moving average of $87.41 and a 200 day moving average of $81.42. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.52.

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.