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

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

Analysts Set New Price Targets

A number of research analysts recently commented on BOKF shares. Zacks Research downgraded shares of BOK Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of BOK Financial in a research report on Wednesday, January 21st. Barclays boosted their target price on BOK Financial from $135.00 to $145.00 and gave the company an “equal weight” rating in a report on Tuesday, April 7th. Keefe, Bruyette & Woods boosted their target price on BOK Financial from $116.00 to $135.00 and gave the company a “market perform” rating in a report on Wednesday, January 21st. Finally, Piper Sandler set a $135.00 target price on BOK Financial in a report on Wednesday, January 21st. Three research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $131.17.

BOK Financial Trading Up 1.5%

The business’s 50-day moving average price is $129.85 and its 200-day moving average price is $121.14. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.77 and a quick ratio of 0.77. 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 announced its earnings results on Friday, January 16th. The bank reported $2.48 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $550.05 million. During the same period in the prior year, the company earned $2.12 earnings per share. As a group, analysts expect that BOK Financial Corporation will post 8.83 earnings per share for the current fiscal year.

BOK Financial Announces Dividend

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

Insider Buying and Selling at BOK Financial

In other BOK Financial news, Director Steven Bangert sold 2,500 shares of BOK Financial stock in a transaction that occurred 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 transaction, the director directly owned 34,916 shares in the company, valued at approximately $4,808,282.36. This trade represents a 6.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 63.53% of the company’s stock.

Institutional Investors Weigh In On BOK Financial

A number of institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC boosted its holdings in BOK Financial by 352.3% in the 1st quarter. SG Americas Securities LLC now owns 24,026 shares of the bank’s stock valued at $3,077,000 after purchasing an additional 18,714 shares in the last quarter. Rockefeller Capital Management L.P. boosted its holdings in BOK Financial by 142.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,411 shares of the bank’s stock valued at $286,000 after purchasing an additional 1,417 shares in the last quarter. Corient Private Wealth LLC purchased a new stake in BOK Financial in the 4th quarter valued at approximately $301,000. Tulsa Wealth Advisors INC purchased a new position in BOK Financial in the fourth quarter worth $502,000. Finally, Caitong International Asset Management Co. Ltd raised its position in BOK Financial by 43,900.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 440 shares of the bank’s stock worth $52,000 after acquiring an additional 439 shares in the last quarter. Hedge funds and other institutional investors 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.