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

Key Points

• BOK Financial shares hit a new 52-week high, trading as high as $142.33 amid modest volume, reflecting continued recent strength in the stock.
• Recent earnings were solid: the bank posted $2.58 EPS, beating Wall Street estimates, while revenue also came in slightly above forecasts. Analysts currently have a consensus Hold rating and a target price of $136.18, below the recent share price.
• The company continues to pay a quarterly dividend of $0.63 per share for a 1.8% annualized yield, while insiders have recently sold shares and institutional ownership stands at about 34.44%.

BOK Financial Corporation (NASDAQ:BOKF - Get Free Report) shares reached a new 52-week high during trading on Thursday . The stock traded as high as $142.33 and last traded at $141.9550, with a volume of 19589 shares changing hands. The stock had previously closed at $139.33.

Wall Street Analyst Weigh In

BOKF has been the topic of several research reports. DA Davidson lifted their target price on BOK Financial from $132.00 to $139.00 and gave the stock a "neutral" rating in a report on Wednesday, April 22nd. Weiss Ratings reissued a "buy (b)" rating on shares of BOK Financial in a research note on Tuesday, June 9th. Zacks Research cut BOK Financial from a "strong-buy" rating to a "hold" rating in a report on Monday, March 30th. Wells Fargo & Company lifted their price objective on BOK Financial from $130.00 to $138.00 and gave the stock an "equal weight" rating in a research note on Monday, July 6th. Finally, Barclays upped their price target on shares of BOK Financial from $135.00 to $145.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 7th. Two research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, BOK Financial has a consensus rating of "Hold" and a consensus target price of $136.18.

BOK Financial Stock Up 2.5%

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 company has a 50 day simple moving average of $132.79 and a two-hundred day simple moving average of $130.60. The company has a market capitalization of $8.68 billion, a P/E ratio of 14.46 and a beta of 0.80.

BOK Financial (NASDAQ:BOKF - Get Free Report) last announced its earnings results on Monday, April 20th. The bank reported $2.58 EPS for the quarter, topping analysts' consensus estimates of $2.30 by $0.28. The firm had revenue of $553.82 million during the quarter, compared to analysts' expectations of $549.71 million. BOK Financial had a return on equity of 9.89% and a net margin of 18.05%.During the same quarter in the previous year, the business earned $1.86 EPS. As a group, equities analysts predict that BOK Financial Corporation will post 10.28 EPS for the current year.

BOK Financial Dividend Announcement

The company also recently disclosed 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. The ex-dividend date was Wednesday, May 13th. This represents a $2.52 dividend on an annualized basis and a yield of 1.8%. BOK Financial's payout ratio is 25.51%.

Insider Activity

In other news, EVP Mark B. Wade sold 1,700 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $132.62, for a total value of $225,454.00. Following the sale, the executive vice president owned 20,361 shares of the company's stock, valued at approximately $2,700,275.82. This represents a 7.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Steven Bangert sold 500 shares of the firm's stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $134.91, for a total transaction of $67,455.00. Following the completion of the sale, the director owned 10,436 shares of the company's stock, valued at $1,407,920.76. This trade represents a 4.57% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 5,500 shares of company stock valued at $738,571. 63.53% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Parallel Advisors LLC increased its stake in shares of BOK Financial by 1.3% during the first quarter. Parallel Advisors LLC now owns 6,237 shares of the bank's stock valued at $799,000 after buying an additional 80 shares during the period. Cowa LLC lifted its stake in BOK Financial by 1.7% in the fourth quarter. Cowa LLC now owns 6,123 shares of the bank's stock worth $725,000 after acquiring an additional 101 shares during the period. Versant Capital Management Inc grew its holdings in BOK Financial by 47.6% during the 2nd quarter. Versant Capital Management Inc now owns 375 shares of the bank's stock worth $52,000 after acquiring an additional 121 shares in the last quarter. GAMMA Investing LLC grew its holdings in BOK Financial by 8.4% during the 4th quarter. GAMMA Investing LLC now owns 1,572 shares of the bank's stock worth $186,000 after acquiring an additional 122 shares in the last quarter. Finally, Root Financial Partners LLC increased its position in BOK Financial by 56.2% during the 1st quarter. Root Financial Partners LLC now owns 367 shares of the bank's stock valued at $47,000 after purchasing an additional 132 shares during the period. Hedge funds and other institutional investors own 34.44% of the company's stock.

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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