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

BOK Financial Corporation (NASDAQ:BOKF) reached a new 52-week high during mid-day trading on Tuesday following a better than expected earnings announcement. The company traded as high as $131.50 and last traded at $131.1660, with a volume of 41884 shares traded. The stock had previously closed at $128.21.

The bank reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.32. The company had revenue of $589.56 million during the quarter, compared to analyst estimates of $550.05 million. BOK Financial had a return on equity of 9.37% and a net margin of 17.10%.During the same period in the previous year, the company earned $2.12 EPS.

BOK Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 12th were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.9%. This is a boost from BOK Financial’s previous quarterly dividend of $0.57. The ex-dividend date was Wednesday, November 12th. BOK Financial’s dividend payout ratio (DPR) is 30.04%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BOKF. Credit Suisse Group set a $116.00 price objective on shares of BOK Financial in a research report on Wednesday, October 22nd. DA Davidson raised their price target on BOK Financial from $120.00 to $122.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Weiss Ratings reiterated a “buy (b-)” rating on shares of BOK Financial in a report on Wednesday, October 8th. Royal Bank Of Canada increased their target price on BOK Financial from $110.00 to $124.00 and gave the stock a “sector perform” rating in a research note on Friday, October 10th. Finally, Wells Fargo & Company raised their price objective on shares of BOK Financial from $105.00 to $115.00 and gave the stock an “equal weight” rating in a report on Monday, January 5th. Three equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $117.91.

Insider Transactions at BOK Financial

In other news, Director Steven Bangert sold 1,000 shares of the stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $114.89, for a total transaction of $114,890.00. Following the completion of the transaction, the director directly owned 37,416 shares in the company, valued at $4,298,724.24. This represents a 2.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last quarter, insiders have sold 3,500 shares of company stock valued at $380,395. 60.14% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BOKF. Versant Capital Management Inc increased its position in shares of BOK Financial by 92.5% during the 3rd quarter. Versant Capital Management Inc now owns 256 shares of the bank’s stock worth $29,000 after purchasing an additional 123 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in BOK Financial during the third quarter worth $41,000. Quent Capital LLC bought a new stake in BOK Financial during the third quarter worth $47,000. EverSource Wealth Advisors LLC raised its position in BOK Financial by 109.2% during the second quarter. EverSource Wealth Advisors LLC now owns 500 shares of the bank’s stock worth $49,000 after acquiring an additional 261 shares in the last quarter. Finally, CIBC Private Wealth Group LLC acquired a new stake in BOK Financial in the third quarter valued at $55,000. 34.44% of the stock is owned by institutional investors and hedge funds.

BOK Financial Trading Up 1.4%

The company has a market cap of $8.22 billion, a P/E ratio of 14.34 and a beta of 0.88. The business’s 50-day moving average price is $117.23 and its 200 day moving average price is $111.00. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.76 and a current ratio of 0.76.

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.