BOK Financial (NASDAQ:BOKF) Hits New 12-Month High – Here’s What Happened

BOK Financial Corporation (NASDAQ:BOKF) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $122.16 and last traded at $120.6450, with a volume of 3272 shares traded. The stock had previously closed at $121.90.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BOKF. DA Davidson boosted their price target on BOK Financial from $120.00 to $122.00 and gave the company a “buy” rating in a research note on Wednesday, October 22nd. Wells Fargo & Company dropped their target price on shares of BOK Financial from $110.00 to $105.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 22nd. Keefe, Bruyette & Woods cut their price target on shares of BOK Financial from $118.00 to $116.00 and set a “market perform” rating for the company in a report on Wednesday, October 22nd. Royal Bank Of Canada lifted their price objective on shares of BOK Financial from $110.00 to $124.00 and gave the company a “sector perform” rating in a research note on Friday, October 10th. Finally, Wall Street Zen downgraded shares of BOK Financial from a “hold” rating to a “sell” rating in a research report on Sunday, October 19th. Three equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $117.00.

BOK Financial Stock Down 0.9%

The firm’s fifty day moving average is $112.50 and its 200-day moving average is $108.35. The company has a market capitalization of $7.57 billion, a P/E ratio of 14.26 and a beta of 0.88. 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 (NASDAQ:BOKF) last issued its earnings results on Monday, September 8th. The bank reported $2.02 earnings per share for the quarter. The firm had revenue of $298.49 million for the quarter. BOK Financial had a net margin of 15.98% and a return on equity of 9.24%. As a group, equities research analysts predict that BOK Financial Corporation will post 8.83 EPS for the current year.

BOK Financial Increases Dividend

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

Insider Transactions at BOK Financial

In other BOK Financial news, Director Steven Bangert sold 1,500 shares of the stock in a transaction dated 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 directly owned 38,416 shares in the company, valued at approximately $4,083,236.64. This trade represents a 3.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders sold 3,500 shares of company stock valued at $380,395. 60.14% of the stock is owned by corporate insiders.

Institutional Trading of BOK Financial

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

About BOK Financial

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.