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

BOK Financial Corporation (NASDAQ:BOKF)’s stock price reached a new 52-week high on Monday . The company traded as high as $122.58 and last traded at $120.93, with a volume of 26433 shares changing hands. The stock had previously closed at $118.68.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on BOKF shares. Barclays boosted their price target on BOK Financial from $120.00 to $125.00 and gave the company an “equal weight” rating in a report on Friday, December 19th. Keefe, Bruyette & Woods reduced their target price on BOK Financial from $118.00 to $116.00 and set a “market perform” rating on the stock in a research report on Wednesday, October 22nd. Hovde Group cut BOK Financial from an “outperform” rating to a “market perform” rating and set a $129.00 price target for the company. in a report on Friday, December 12th. Wells Fargo & Company increased 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. Finally, DA Davidson boosted their target price on shares of BOK Financial from $120.00 to $122.00 and gave the company a “buy” rating in a report on Wednesday, October 22nd. Three analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $117.91.

BOK Financial Stock Performance

The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.54. The firm has a market cap of $7.64 billion, a PE ratio of 14.40 and a beta of 0.88. The stock’s 50 day moving average price is $113.30 and its 200 day moving average price is $108.91.

BOK Financial (NASDAQ:BOKF) last announced its quarterly earnings results on Monday, September 8th. The bank reported $2.02 earnings per share for the quarter. BOK Financial had a net margin of 15.98% and a return on equity of 9.24%. The firm had revenue of $298.49 million during the quarter. As a group, equities analysts forecast that BOK Financial Corporation will post 8.83 earnings per share for the current fiscal year.

BOK Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Wednesday, November 12th were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Wednesday, November 12th. This is an increase from BOK Financial’s previous quarterly dividend of $0.57. BOK Financial’s dividend payout ratio (DPR) is 30.04%.

Insider Buying and Selling

In other BOK Financial news, Director Steven Bangert sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $106.29, for a total value of $159,435.00. Following the completion of the transaction, the director owned 38,416 shares in the company, valued at $4,083,236.64. This represents a 3.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders sold 3,500 shares of company stock worth $380,395. Insiders own 60.14% of the company’s stock.

Institutional Trading of BOK Financial

Hedge funds and other institutional investors have recently made changes to their positions in the stock. CIBC Bancorp USA Inc. acquired a new position in shares of BOK Financial in the 3rd quarter worth approximately $123,231,000. Freestone Grove Partners LP raised its position in shares of BOK Financial by 407.0% during the 3rd quarter. Freestone Grove Partners LP now owns 363,610 shares of the bank’s stock valued at $40,521,000 after acquiring an additional 291,894 shares in the last quarter. Norges Bank bought a new position in BOK Financial during the second quarter worth $24,764,000. First Trust Advisors LP boosted its holdings in BOK Financial by 94.8% in the second quarter. First Trust Advisors LP now owns 377,391 shares of the bank’s stock worth $36,845,000 after purchasing an additional 183,668 shares during the period. Finally, Qube Research & Technologies Ltd increased its stake in BOK Financial by 193.7% during the second quarter. Qube Research & Technologies Ltd now owns 226,230 shares of the bank’s stock valued at $22,087,000 after purchasing an additional 149,201 shares during the last quarter. Institutional investors 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.