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

BOK Financial Corporation (NASDAQ:BOKF)’s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $138.79 and last traded at $139.6220, with a volume of 44669 shares traded. The stock had previously closed at $135.52.

Wall Street Analyst Weigh In

BOKF has been the topic of a number of research analyst reports. Wells Fargo & Company raised their price target on BOK Financial from $115.00 to $127.00 and gave the stock an “equal weight” rating in a research note on Monday, March 30th. Keefe, Bruyette & Woods raised their price target on BOK Financial from $116.00 to $135.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 21st. Wall Street Zen raised BOK Financial from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. Royal Bank Of Canada raised their price target on BOK Financial from $124.00 to $132.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 21st. Finally, Piper Sandler set a $135.00 price target on BOK Financial in a research note on Wednesday, January 21st. Three analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $131.17.

BOK Financial Stock Up 1.9%

The firm has a market capitalization of $8.39 billion, a price-to-earnings ratio of 15.08 and a beta of 0.85. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.53. The firm has a 50 day moving average price of $129.88 and a two-hundred day moving average price of $121.39.

BOK Financial (NASDAQ:BOKF) last released its quarterly earnings data on Friday, January 16th. The bank reported $2.48 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.32. The business had revenue of $589.56 million for the quarter, compared to analyst estimates of $550.05 million. BOK Financial had a return on equity of 9.36% and a net margin of 17.10%.During the same period in the previous year, the company posted $2.12 EPS. On average, equities analysts expect that BOK Financial Corporation will post 8.83 earnings per share for the current fiscal year.

BOK Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 5th. Stockholders of record on Thursday, February 19th were paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Thursday, February 19th. BOK Financial’s payout ratio is currently 27.51%.

Insider Buying and Selling at BOK Financial

In other news, Director Steven Bangert sold 2,500 shares of BOK Financial stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $137.71, for a total value of $344,275.00. Following the transaction, the director directly owned 34,916 shares of the company’s stock, valued at $4,808,282.36. The trade was a 6.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 63.53% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BOK Financial

Hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its stake in shares of BOK Financial by 2.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,629,362 shares of the bank’s stock valued at $293,015,000 after purchasing an additional 59,241 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of BOK Financial by 18.8% during the 3rd quarter. Victory Capital Management Inc. now owns 234,007 shares of the bank’s stock valued at $26,078,000 after buying an additional 36,982 shares during the period. Numerai GP LLC purchased a new stake in shares of BOK Financial during the 3rd quarter valued at about $1,949,000. First Trust Advisors LP raised its holdings in shares of BOK Financial by 39.8% during the 3rd quarter. First Trust Advisors LP now owns 527,601 shares of the bank’s stock valued at $58,796,000 after buying an additional 150,210 shares during the period. Finally, CIBC Bancorp USA Inc. purchased a new stake in shares of BOK Financial during the 3rd quarter valued at about $123,231,000. 34.44% of the stock is owned by institutional investors and hedge funds.

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.