BOK Financial (NASDAQ:BOKF) Reaches New 52-Week High Following Analyst Upgrade

Key Points

• BOK Financial shares reached a new 52-week high of $144.30 after Barclays raised its price target from $150 to $155, though Barclays maintained an equal-weight rating.
• Analyst sentiment remains cautious, with the stock carrying an average “Hold” rating and a consensus price target of $139.45 despite several recent target increases.
• In its latest quarter, BOK Financial reported $2.59 in EPS, below expectations of $2.68, while revenue rose 5.4% year over year to $589.4 million; the company also pays a $0.63 quarterly dividend.

Shares of BOK Financial Corporation (NASDAQ:BOKF - Get Free Report) reached a new 52-week high on Monday after Barclays raised their price target on the stock from $150.00 to $155.00. Barclays currently has an equal weight rating on the stock. BOK Financial traded as high as $144.30 and last traded at $143.3750, with a volume of 3728 shares. The stock had previously closed at $141.29.

BOKF has been the subject of a number of other reports. Keefe, Bruyette & Woods boosted their price target on shares of BOK Financial from $143.00 to $146.00 and gave the company a "market perform" rating in a research report on Friday, July 24th. Citigroup reissued a "neutral" rating on shares of BOK Financial in a research report on Thursday, July 23rd. Royal Bank Of Canada lifted their price target on BOK Financial from $147.00 to $149.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 22nd. DA Davidson reissued a "neutral" rating and issued a $150.00 price objective on shares of BOK Financial in a report on Tuesday, July 21st. Finally, Wells Fargo & Company lifted their target price on shares of BOK Financial from $130.00 to $138.00 and gave the company an "equal weight" rating in a report on Monday, July 6th. Two investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat.com, BOK Financial presently has an average rating of "Hold" and a consensus target price of $139.45.

Insider Activity at BOK Financial

In other BOK Financial news, Director Steven Bangert sold 500 shares of the company's stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $134.91, for a total transaction of $67,455.00. Following the completion of the transaction, the director owned 10,436 shares in the company, valued at approximately $1,407,920.76. This represents a 4.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark B. Wade sold 1,700 shares of the firm's stock in a transaction on Friday, May 8th. The stock was sold at an average price of $132.62, for a total transaction of $225,454.00. Following the completion of the sale, the executive vice president owned 20,361 shares of the company's stock, valued at $2,700,275.82. This trade represents a 7.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 4,309 shares of company stock valued at $577,203 in the last 90 days. Company insiders own 63.53% of the company's stock.

Institutional Investors Weigh In On BOK Financial

Hedge funds have recently added to or reduced their stakes in the company. Isthmus Partners LLC purchased a new position in shares of BOK Financial during the 4th quarter worth approximately $1,775,000. M&T Bank Corp grew its holdings in BOK Financial by 1,397.2% during the fourth quarter. M&T Bank Corp now owns 30,767 shares of the bank's stock worth $3,645,000 after acquiring an additional 28,712 shares during the period. SG Americas Securities LLC grew its holdings in BOK Financial by 352.3% during the first quarter. SG Americas Securities LLC now owns 24,026 shares of the bank's stock worth $3,077,000 after acquiring an additional 18,714 shares during the period. Norges Bank purchased a new position in BOK Financial in the fourth quarter worth $32,755,000. Finally, Ritholtz Wealth Management purchased a new position in BOK Financial in the fourth quarter worth $957,000. Institutional investors and hedge funds own 34.44% of the company's stock.

BOK Financial Trading Up 1.4%

The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.03. The business has a fifty day simple moving average of $135.72 and a 200 day simple moving average of $132.32. The company has a market cap of $8.71 billion, a price-to-earnings ratio of 13.45 and a beta of 0.80.

BOK Financial (NASDAQ:BOKF - Get Free Report) last issued its earnings results on Monday, July 20th. The bank reported $2.59 EPS for the quarter, missing the consensus estimate of $2.68 by ($0.09). The company had revenue of $589.40 million for the quarter, compared to analysts' expectations of $568.08 million. BOK Financial had a return on equity of 10.13% and a net margin of 18.97%.BOK Financial's revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.19 earnings per share. On average, equities analysts anticipate that BOK Financial Corporation will post 10.32 EPS for the current fiscal year.

BOK Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th were given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.8%. The ex-dividend date was Wednesday, May 13th. BOK Financial's dividend payout ratio is presently 23.75%.

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.

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