BOK Financial (NASDAQ:BOKF) Share Price Breaks Above 50-Day Moving Average – Here’s What Happened

Shares of BOK Financial Corporation (NASDAQ:BOKF) crossed above its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $131.49 and traded as high as $132.98. BOK Financial shares last traded at $132.37, with a volume of 597,329 shares traded.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BOKF. Keefe, Bruyette & Woods lifted their price target on BOK Financial from $143.00 to $146.00 and gave the stock a “market perform” rating in a report on Friday, July 24th. Royal Bank Of Canada reduced their price target on BOK Financial from $149.00 to $146.00 and set a “sector perform” rating for the company in a research note on Friday, October 9th. Hovde Group initiated coverage on BOK Financial in a report on Friday, September 11th. They issued a “market perform” rating and a $143.00 price objective on the stock. Barclays increased their price objective on BOK Financial from $150.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Monday, August 3rd. Finally, Citigroup dropped their target price on BOK Financial from $146.00 to $140.00 and set a “neutral” rating for the company in a report on Thursday, October 22nd. Two investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $143.27.

BOK Financial Stock Up 1.8%

The stock’s fifty day simple moving average is $131.49 and its 200-day simple moving average is $132.86. The stock has a market cap of $8.04 billion, a P/E ratio of 12.00 and a beta of 0.82. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.78 and a current ratio of 0.78.

BOK Financial (NASDAQ:BOKF) last released its earnings results on Monday, October 19th. The bank reported $2.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.52 by $0.12. BOK Financial had a return on equity of 10.41% and a net margin of 19.53%. The company had revenue of $561.45 million for the quarter, compared to analyst estimates of $571.40 million. During the same period in the prior year, the firm posted $2.22 EPS. BOK Financial’s quarterly revenue was down 34.3% on a year-over-year basis. As a group, research analysts forecast that BOK Financial Corporation will post 10.41 earnings per share for the current fiscal year.

BOK Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th were paid a $0.63 dividend. The ex-dividend date was Wednesday, August 19th. This represents a $2.52 annualized dividend and a dividend yield of 1.9%. BOK Financial’s dividend payout ratio (DPR) is presently 22.85%.

Insiders Place Their Bets

In related news, EVP Brad A. Vincent sold 4,015 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $145.42, for a total value of $583,861.30. Following the sale, the executive vice president directly owned 6,031 shares of the company’s stock, valued at $877,028.02. This trade represents a 39.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Steven Bangert sold 1,250 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $143.96, for a total value of $179,950.00. Following the completion of the sale, the director directly owned 31,710 shares in the company, valued at $4,564,971.60. This trade represents a 3.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 63.53% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its stake in shares of BOK Financial by 1.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,708,525 shares of the bank’s stock valued at $346,843,000 after purchasing an additional 34,833 shares in the last quarter. Bank of New York Mellon Corp increased its position in BOK Financial by 1.8% during the 1st quarter. Bank of New York Mellon Corp now owns 163,304 shares of the bank’s stock worth $20,913,000 after purchasing an additional 2,915 shares in the last quarter. Bank of America Corp DE lifted its stake in BOK Financial by 135.8% in the 1st quarter. Bank of America Corp DE now owns 139,910 shares of the bank’s stock valued at $17,917,000 after purchasing an additional 80,582 shares during the last quarter. Quantinno Capital Management LP lifted its stake in BOK Financial by 22.0% in the 1st quarter. Quantinno Capital Management LP now owns 81,913 shares of the bank’s stock valued at $10,490,000 after purchasing an additional 14,769 shares during the last quarter. Finally, Edgestream Partners L.P. acquired a new stake in BOK Financial in the first quarter valued at approximately $6,248,000. Institutional investors own 34.44% of the company’s stock.

BOK Financial Company Profile

BOK Financial Corporation is a financial services holding company headquartered in Tulsa, Oklahoma. Through its banking and financial-services subsidiaries, the company serves businesses, institutions, individuals and families across the central and southwestern United States.

The company provides commercial banking, consumer banking, wealth management and capital markets services. Its offerings include deposit accounts, commercial and consumer loans, treasury and cash-management services, investment management, trust and private banking, mortgage lending, investment banking, securities brokerage and institutional trading.

BOK Financial operates under banking brands including Bank of Oklahoma, Bank of Texas and Bank of Albuquerque, with additional operations serving customers in Colorado, Kansas, Missouri and Arkansas.