BOK Financial (NASDAQ:BOKF) Upgraded at Zacks Research

Zacks Research upgraded shares of BOK Financial (NASDAQ:BOKF) from a hold rating to a strong-buy rating in a report issued on Thursday morning,Zacks.com reports.

Several other equities analysts have also issued reports on BOKF. Jefferies Financial Group set a $135.00 price target on BOK Financial and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Piper Sandler set a $135.00 target price on shares of BOK Financial in a report on Wednesday. Credit Suisse Group set a $116.00 price target on shares of BOK Financial in a report on Wednesday, October 22nd. Wall Street Zen raised shares of BOK Financial from a “sell” rating to a “hold” rating in a report on Saturday, January 17th. Finally, Raymond James Financial restated an “outperform” rating and issued a $140.00 price objective on shares of BOK Financial in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $128.50.

BOK Financial Stock Performance

Shares of BOKF stock opened at $132.12 on Thursday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.54. The company has a market cap of $8.36 billion, a price-to-earnings ratio of 14.42 and a beta of 0.88. The firm has a 50 day moving average of $119.22 and a 200-day moving average of $111.80. BOK Financial has a 52 week low of $85.07 and a 52 week high of $138.09.

BOK Financial (NASDAQ:BOKF) last released its earnings results on Tuesday, January 20th. The bank reported $2.48 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.32. The company had revenue of $589.56 million during the quarter, compared to the consensus estimate of $550.05 million. BOK Financial had a return on equity of 9.37% and a net margin of 17.10%.During the same quarter in the previous year, the company posted $2.12 EPS. On average, equities analysts forecast that BOK Financial will post 8.83 earnings per share for the current 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 dividend of $0.63 per share. This is an increase from BOK Financial’s previous quarterly dividend of $0.57. This represents a $2.52 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Wednesday, November 12th. BOK Financial’s dividend payout ratio is presently 27.51%.

Insider Transactions at BOK Financial

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. CIBC Bancorp USA Inc. purchased a new stake in shares of BOK Financial in the 3rd quarter worth approximately $123,231,000. Freestone Grove Partners LP boosted its holdings in BOK Financial by 407.0% in the third quarter. Freestone Grove Partners LP now owns 363,610 shares of the bank’s stock worth $40,521,000 after acquiring an additional 291,894 shares in the last quarter. Norges Bank bought a new stake in BOK Financial in the second quarter worth $24,764,000. First Trust Advisors LP grew its stake in shares of BOK Financial by 94.8% in the second quarter. First Trust Advisors LP now owns 377,391 shares of the bank’s stock worth $36,845,000 after acquiring an additional 183,668 shares during the last quarter. Finally, Qube Research & Technologies Ltd increased its holdings in shares of BOK Financial by 193.7% during the second quarter. Qube Research & Technologies Ltd now owns 226,230 shares of the bank’s stock valued at $22,087,000 after acquiring an additional 149,201 shares in the last quarter. Institutional investors own 34.44% of the company’s stock.

BOK Financial Company Profile

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.