BOK Financial (NASDAQ:BOKF) Reaches New 52-Week High – Time to Buy?

BOK Financial Corporation (NASDAQ:BOKF)’s share price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $140.57 and last traded at $140.5050, with a volume of 64604 shares changing hands. The stock had previously closed at $138.88.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BOKF. Barclays increased their price target on shares of BOK Financial from $135.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 7th. Raymond James Financial downgraded BOK Financial from an “outperform” rating to a “market perform” rating in a report on Wednesday. Zacks Research lowered BOK Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. DA Davidson lifted their target price on BOK Financial from $132.00 to $139.00 and gave the company a “neutral” rating in a report on Wednesday, April 22nd. Finally, Citigroup boosted their price target on BOK Financial from $138.00 to $141.00 and gave the company a “neutral” rating in a research report on Thursday, June 25th. Two investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $135.18.

BOK Financial Stock Performance

The stock has a 50 day moving average price of $131.75 and a two-hundred day moving average price of $129.14. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $8.58 billion, a price-to-earnings ratio of 14.29 and a beta of 0.81.

BOK Financial (NASDAQ:BOKF) last issued its quarterly earnings results on Monday, April 20th. The bank reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.28. BOK Financial had a net margin of 18.05% and a return on equity of 9.89%. The business had revenue of $553.82 million for the quarter, compared to the consensus estimate of $549.71 million. During the same quarter in the prior year, the company earned $1.86 EPS. On average, analysts predict that BOK Financial Corporation will post 10.28 EPS for the current fiscal year.

BOK Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th were paid a $0.63 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.8%. BOK Financial’s payout ratio is currently 25.51%.

Insider Activity

In other BOK Financial news, Director Steven Bangert sold 500 shares of the company’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $134.91, for a total transaction of $67,455.00. Following the transaction, the director owned 10,436 shares of the company’s stock, valued at approximately $1,407,920.76. This represents a 4.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark B. Wade sold 1,700 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $132.62, for a total value of $225,454.00. Following the completion of the transaction, the executive vice president owned 20,361 shares in the company, valued at $2,700,275.82. The trade was a 7.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 5,500 shares of company stock valued at $738,571 over the last three months. 63.53% of the stock is owned by insiders.

Hedge Funds Weigh In On BOK Financial

Several large investors have recently made changes to their positions in the company. Parallel Advisors LLC boosted its holdings in BOK Financial by 1.3% in the first quarter. Parallel Advisors LLC now owns 6,237 shares of the bank’s stock valued at $799,000 after acquiring an additional 80 shares during the last quarter. Cowa LLC raised its holdings in BOK Financial by 1.7% during the 4th quarter. Cowa LLC now owns 6,123 shares of the bank’s stock worth $725,000 after purchasing an additional 101 shares during the last quarter. GAMMA Investing LLC raised its holdings in BOK Financial by 8.4% during the 4th quarter. GAMMA Investing LLC now owns 1,572 shares of the bank’s stock worth $186,000 after purchasing an additional 122 shares during the last quarter. Root Financial Partners LLC lifted its position in BOK Financial by 56.2% during the 1st quarter. Root Financial Partners LLC now owns 367 shares of the bank’s stock valued at $47,000 after purchasing an additional 132 shares during the period. Finally, Farther Finance Advisors LLC lifted its position in BOK Financial by 173.1% during the 4th quarter. Farther Finance Advisors LLC now owns 213 shares of the bank’s stock valued at $25,000 after purchasing an additional 135 shares during the period. Institutional investors and hedge funds own 34.44% of the company’s stock.

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.