BOK Financial (NASDAQ:BOKF) Sees Unusually-High Trading Volume - Here's What Happened

Key Points

• BOK Financial saw heavier-than-usual trading volume, with about 301,876 shares changing hands, while the stock edged down to around $140.75 from its prior close of $141.24.
• Wall Street sentiment remains mixed but mostly cautious: analysts have an overall Hold rating on the stock, with a consensus price target of $136.18 despite several recent target price increases.
• The company recently beat quarterly earnings estimates, posting $2.58 EPS versus the expected $2.30, and it also paid a quarterly dividend of $0.63 per share, equal to a 1.8% annualized yield.

Shares of BOK Financial Corporation (NASDAQ:BOKF - Get Free Report) saw an uptick in trading volume on Monday . Approximately 301,876 shares were traded during mid-day trading, a decline of 5% from the previous session's volume of 317,678 shares.The stock last traded at $140.7450 and had previously closed at $141.24.

Wall Street Analyst Weigh In

Several research firms have commented on BOKF. Barclays increased their target price on shares of BOK Financial from $135.00 to $145.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 7th. Benchmark started coverage on BOK Financial in a research report on Wednesday, June 24th. They issued a "hold" rating for the company. Zacks Research lowered BOK Financial from a "strong-buy" rating to a "hold" rating in a report on Monday, March 30th. Royal Bank Of Canada raised their price objective on BOK Financial from $136.00 to $145.00 and gave the company a "sector perform" rating in a research note on Wednesday, April 22nd. Finally, Citigroup boosted their target price on BOK Financial from $138.00 to $141.00 and gave the stock a "neutral" rating in a report on Thursday, June 25th. Two equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat, BOK Financial presently has an average rating of "Hold" and a consensus price target of $136.18.

BOK Financial Stock Down 0.9%

The stock has a market cap of $8.50 billion, a P/E ratio of 14.18 and a beta of 0.80. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.03. The firm's fifty day moving average is $133.16 and its 200 day moving average is $130.89.

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

BOK Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th were issued a $0.63 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $2.52 dividend on an annualized basis and a yield of 1.8%. BOK Financial's dividend payout ratio (DPR) is 25.51%.

Insiders Place Their Bets

In other BOK Financial news, EVP Mark B. Wade sold 1,700 shares of BOK Financial stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $132.62, for a total value of $225,454.00. Following the transaction, the executive vice president directly owned 20,361 shares of the company's stock, valued at $2,700,275.82. The trade was a 7.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Jeffrey A. Reid sold 1,200 shares of the company's stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $135.52, for a total value of $162,624.00. Following the transaction, the executive vice president owned 8,116 shares of the company's stock, valued at approximately $1,099,880.32. This trade represents a 12.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 5,500 shares of company stock valued at $738,571 in the last three months. Company insiders own 63.53% of the company's stock.

Institutional Trading of BOK Financial

Hedge funds have recently bought and sold shares of the stock. Cibc World Markets Corp acquired a new stake in shares of BOK Financial during the 4th quarter worth approximately $130,994,000. Freestone Grove Partners LP lifted its position 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 purchasing an additional 291,894 shares during the period. Norges Bank bought a new position in BOK Financial in the fourth quarter worth $32,755,000. Cibc World Market Inc. boosted its stake in BOK Financial by 39.0% during the fourth quarter. Cibc World Market Inc. now owns 908,800 shares of the bank's stock worth $107,656,000 after buying an additional 254,800 shares in the last quarter. Finally, Qube Research & Technologies Ltd boosted its stake in BOK Financial by 193.7% during the second quarter. Qube Research & Technologies Ltd now owns 226,230 shares of the bank's stock worth $22,087,000 after buying an additional 149,201 shares in the last quarter. 34.44% of the stock is owned by institutional investors.

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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