BOK Financial (NASDAQ:BOKF) Hits New 52-Week High – Here’s Why

BOK Financial Corporation (NASDAQ:BOKF)’s stock price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $138.79 and last traded at $139.6220, with a volume of 44669 shares. The stock had previously closed at $135.52.

Analyst Upgrades and Downgrades

BOKF has been the subject of several research analyst reports. Wells Fargo & Company increased their price objective on BOK Financial from $115.00 to $127.00 and gave the stock an “equal weight” rating in a research report on Monday, March 30th. Royal Bank Of Canada boosted their price objective on shares of BOK Financial from $124.00 to $132.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 21st. Weiss Ratings reissued a “buy (b-)” rating on shares of BOK Financial in a report on Wednesday, January 21st. Wall Street Zen raised shares of BOK Financial from a “sell” rating to a “hold” rating in a report on Saturday, January 17th. Finally, Zacks Research downgraded BOK Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Three analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $131.17.

BOK Financial Stock Up 1.5%

The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.77 and a current ratio of 0.77. The firm’s 50-day moving average is $129.85 and its 200 day moving average is $121.14. The firm has a market capitalization of $8.36 billion, a PE ratio of 15.03 and a beta of 0.85.

BOK Financial (NASDAQ:BOKF) last released its quarterly earnings data on Friday, January 16th. The bank reported $2.48 EPS for the quarter, topping the consensus estimate of $2.16 by $0.32. BOK Financial had a net margin of 17.10% and a return on equity of 9.36%. The business had revenue of $589.56 million for the quarter, compared to analyst estimates of $550.05 million. During the same period in the previous year, the firm earned $2.12 EPS. As a group, research analysts forecast that BOK Financial Corporation will post 8.83 earnings per share for the current fiscal year.

BOK Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 5th. Stockholders of record on Thursday, February 19th were paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Thursday, February 19th. BOK Financial’s dividend payout ratio (DPR) is 27.51%.

Insider Buying and Selling at BOK Financial

In other news, Director Steven Bangert sold 2,500 shares of the company’s stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $137.71, for a total value of $344,275.00. Following the sale, the director directly owned 34,916 shares in the company, valued at $4,808,282.36. This represents a 6.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 63.53% of the stock is currently owned by company insiders.

Institutional Trading of BOK Financial

Several institutional investors and hedge funds have recently made changes to their positions in BOKF. Farther Finance Advisors LLC grew its holdings in shares of BOK Financial by 173.1% during the fourth quarter. Farther Finance Advisors LLC now owns 213 shares of the bank’s stock worth $25,000 after buying an additional 135 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of BOK Financial by 92.5% during the third quarter. Versant Capital Management Inc now owns 256 shares of the bank’s stock worth $29,000 after buying an additional 123 shares in the last quarter. Pinnacle Holdings LLC purchased a new stake in shares of BOK Financial during the fourth quarter worth about $31,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of BOK Financial during the third quarter worth about $41,000. Finally, Covestor Ltd lifted its stake in shares of BOK Financial by 108.0% during the 4th quarter. Covestor Ltd now owns 366 shares of the bank’s stock worth $43,000 after purchasing an additional 190 shares during the period. 34.44% of the stock is currently owned by hedge funds and other institutional investors.

BOK Financial Company Profile

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.