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

BOK Financial Corporation (NASDAQ:BOKF)’s share price reached a new 52-week high during mid-day trading on Monday . The stock 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.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BOKF. DA Davidson upped their target price on shares of BOK Financial from $120.00 to $122.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Royal Bank Of Canada boosted their price target on shares of BOK Financial from $110.00 to $124.00 and gave the stock a “sector perform” rating in a research note on Friday, October 10th. Keefe, Bruyette & Woods dropped their price objective 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. Wall Street Zen cut BOK Financial from a “hold” rating to a “sell” rating in a report on Sunday, October 19th. Finally, Jefferies Financial Group set a $135.00 target price on BOK Financial and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $117.91.

BOK Financial Trading Down 0.1%

The stock has a market cap of $7.72 billion, a P/E ratio of 14.55 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. The stock’s fifty day moving average is $114.18 and its 200 day moving average is $109.40.

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

BOK Financial Increases Dividend

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

Insider Buying and Selling

In other BOK Financial news, Director Steven Bangert sold 1,500 shares of the business’s stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $106.29, for a total transaction of $159,435.00. Following the transaction, the director owned 38,416 shares in the company, valued at $4,083,236.64. The trade was a 3.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 3,500 shares of company stock worth $380,395 over the last ninety days. 56.94% of the stock is owned by insiders.

Institutional Trading of BOK Financial

Several institutional investors and hedge funds have recently made changes to their positions in the business. Versant Capital Management Inc grew its holdings in shares of BOK Financial by 92.5% in the third 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 purchased a new stake in BOK Financial in the 3rd quarter valued at about $41,000. Quent Capital LLC bought a new position in BOK Financial in the 3rd quarter worth about $47,000. CIBC Private Wealth Group LLC purchased a new position in shares of BOK Financial during the third quarter worth approximately $55,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of BOK Financial by 109.2% during the second quarter. EverSource Wealth Advisors LLC now owns 500 shares of the bank’s stock valued at $49,000 after acquiring an additional 261 shares in the last quarter. 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.