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

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

Wall Street Analysts Forecast Growth

BOKF has been the topic of a number of recent analyst reports. Royal Bank of Canada increased their price target on shares of BOK Financial from $111.00 to $113.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company raised their target price on shares of BOK Financial from $102.00 to $105.00 and gave the company an “equal weight” rating in a research note on Monday, October 28th. DA Davidson cut 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 reissued a “neutral” rating and issued a $115.00 target price on shares of BOK Financial in a research note on Tuesday, October 22nd. Finally, Stephens cut their target price on shares of BOK Financial from $116.00 to $114.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 23rd. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $112.20.

BOK Financial Price Performance

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

BOK Financial (NASDAQ:BOKF) last posted its earnings results 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. The firm had revenue of $888.50 million during the quarter, compared to analyst estimates of $509.43 million. BOK Financial had a net margin of 13.78% and a return on equity of 9.67%. During the same period in the previous year, the business posted $2.04 EPS. Equities research analysts expect that BOK Financial Co. will post 8.08 earnings per share for the current year.

BOK Financial Increases Dividend

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

Insider Activity

In other BOK Financial news, Director Steven Bangert sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $117.83, for a total value of $235,660.00. Following the transaction, the director now owns 44,709 shares in the company, valued at approximately $5,268,061.47. This represents a 4.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 56.94% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in BOKF. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of BOK Financial during the 2nd quarter worth $39,000. Olistico Wealth LLC bought a new stake in BOK Financial in the 2nd quarter valued at $46,000. Bessemer Group Inc. bought a new stake in BOK Financial in the 1st quarter valued at $86,000. KBC Group NV boosted its holdings in BOK Financial by 25.3% in the 3rd quarter. KBC Group NV now owns 905 shares of the bank’s stock valued at $95,000 after purchasing an additional 183 shares during the period. Finally, Prospera Private Wealth LLC bought a new stake in BOK Financial in the 3rd quarter valued at $142,000. Institutional investors and hedge funds own 34.44% of the company’s stock.

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.