BOK Financial (NASDAQ:BOKF) Reaches New 1-Year High After Earnings Beat

BOK Financial Co. (NASDAQ:BOKF)’s stock price hit a new 52-week high during mid-day trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $93.51 and last traded at $92.09, with a volume of 64555 shares trading hands. The stock had previously closed at $91.11.

The bank reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.19. The business had revenue of $806.91 million during the quarter, compared to analyst estimates of $473.70 million. BOK Financial had a net margin of 13.93% and a return on equity of 10.62%. During the same period in the prior year, the firm earned $2.43 earnings per share.

BOK Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th were paid a $0.55 dividend. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $2.20 annualized dividend and a dividend yield of 2.43%. BOK Financial’s payout ratio is 32.07%.

Analysts Set New Price Targets

Several research analysts recently commented on BOKF shares. Raymond James reaffirmed an “outperform” rating and issued a $105.00 target price (up from $103.00) on shares of BOK Financial in a research report on Thursday. Keefe, Bruyette & Woods lifted their price target on BOK Financial from $97.00 to $100.00 and gave the company a “market perform” rating in a report on Thursday. StockNews.com cut BOK Financial from a “hold” rating to a “sell” rating in a report on Thursday, March 21st. Royal Bank of Canada lifted their price objective on BOK Financial from $94.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Thursday. Finally, Hovde Group boosted their target price on BOK Financial from $96.00 to $97.00 and gave the stock a “market perform” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $97.30.

Insider Buying and Selling at BOK Financial

In other BOK Financial news, Director Steven Bangert sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $81.59, for a total value of $244,770.00. Following the completion of the sale, the director now owns 50,985 shares in the company, valued at $4,159,866.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 56.94% of the company’s stock.

Hedge Funds Weigh In On BOK Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Treasurer of the State of North Carolina raised its holdings in shares of BOK Financial by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 12,564 shares of the bank’s stock valued at $1,076,000 after acquiring an additional 120 shares in the last quarter. VisionPoint Advisory Group LLC raised its holdings in shares of BOK Financial by 102.1% during the third quarter. VisionPoint Advisory Group LLC now owns 380 shares of the bank’s stock valued at $30,000 after acquiring an additional 192 shares in the last quarter. New York State Common Retirement Fund raised its holdings in shares of BOK Financial by 0.8% during the fourth quarter. New York State Common Retirement Fund now owns 25,063 shares of the bank’s stock valued at $2,147,000 after acquiring an additional 195 shares in the last quarter. Covestor Ltd raised its holdings in BOK Financial by 214.0% in the third quarter. Covestor Ltd now owns 314 shares of the bank’s stock worth $25,000 after purchasing an additional 214 shares in the last quarter. Finally, Swiss National Bank raised its holdings in BOK Financial by 0.6% in the third quarter. Swiss National Bank now owns 65,874 shares of the bank’s stock worth $5,269,000 after purchasing an additional 400 shares in the last quarter. Institutional investors own 34.44% of the company’s stock.

BOK Financial Stock Performance

The business has a fifty day simple moving average of $87.41 and a 200-day simple moving average of $81.42. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.52. The firm has a market cap of $5.86 billion, a P/E ratio of 13.11 and a beta of 1.21.

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.