Wells Fargo & Company Boosts BOK Financial (NASDAQ:BOKF) Price Target to $100.00

BOK Financial (NASDAQ:BOKF – Get Rating) had its price target lifted by Wells Fargo & Company from $85.00 to $100.00 in a research note issued to investors on Thursday morning, The Fly reports. They currently have an overweight rating on the bank’s stock.

Several other research analysts also recently issued reports on BOKF. StockNews.com began coverage on BOK Financial in a research note on Thursday, March 31st. They set a hold rating for the company. Truist Financial cut their price target on BOK Financial from $91.00 to $87.00 in a research note on Wednesday, June 15th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, BOK Financial presently has a consensus rating of Hold and an average price target of $96.83.

BOK Financial Price Performance

Shares of NASDAQ BOKF opened at $88.03 on Thursday. The firm has a market capitalization of $6.00 billion, a P/E ratio of 11.34 and a beta of 1.36. BOK Financial has a one year low of $70.21 and a one year high of $120.20. The company’s fifty day moving average is $79.42 and its two-hundred day moving average is $90.54. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.66 and a current ratio of 0.66.

BOK Financial (NASDAQ:BOKF – Get Rating) last issued its earnings results on Wednesday, July 27th. The bank reported $1.96 EPS for the quarter, topping the consensus estimate of $1.43 by $0.53. The company had revenue of $442.60 million for the quarter, compared to analyst estimates of $419.97 million. BOK Financial had a net margin of 29.37% and a return on equity of 10.19%. The business’s revenue was down 6.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.40 EPS. Analysts forecast that BOK Financial will post 6.03 EPS for the current fiscal year.

BOK Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 25th. Investors of record on Wednesday, May 11th were paid a $0.53 dividend. This is an increase from BOK Financial’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Tuesday, May 10th. This represents a $2.12 annualized dividend and a yield of 2.41%. BOK Financial’s payout ratio is presently 27.32%.

Insider Activity at BOK Financial

In related news, Director Steven Bangert sold 3,000 shares of the business’s stock in a transaction dated Friday, May 20th. The shares were sold at an average price of $80.16, for a total value of $240,480.00. Following the completion of the transaction, the director now owns 76,852 shares of the company’s stock, valued at approximately $6,160,456.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Steven Bangert sold 3,000 shares of the company’s stock in a transaction dated Friday, May 20th. The shares were sold at an average price of $80.16, for a total transaction of $240,480.00. Following the completion of the transaction, the director now owns 76,852 shares of the company’s stock, valued at approximately $6,160,456.32. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Steven G. Bradshaw sold 10,000 shares of the company’s stock in a transaction dated Thursday, May 26th. The shares were sold at an average price of $85.01, for a total transaction of $850,100.00. Following the transaction, the director now directly owns 74,029 shares of the company’s stock, valued at approximately $6,293,205.29. The disclosure for this sale can be found here. 56.94% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of BOKF. Covestor Ltd acquired a new position in shares of BOK Financial during the 4th quarter valued at about $31,000. MetLife Investment Management LLC purchased a new stake in shares of BOK Financial during the 1st quarter worth about $57,000. Geneos Wealth Management Inc. purchased a new stake in shares of BOK Financial during the 4th quarter worth about $63,000. First Horizon Advisors Inc. grew its holdings in shares of BOK Financial by 76.9% during the 4th quarter. First Horizon Advisors Inc. now owns 697 shares of the bank’s stock worth $74,000 after purchasing an additional 303 shares during the period. Finally, National Bank of Canada FI purchased a new stake in shares of BOK Financial during the 2nd quarter worth about $79,000. Institutional investors and hedge funds own 39.12% of the company’s stock.

BOK Financial Company Profile

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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.