BOK Financial (NASDAQ:BOKF) Sets New 52-Week High After Analyst Upgrade

Key Points

• BOK Financial shares hit a new 52-week high after Keefe, Bruyette & Woods raised its price target to $146 from $143, even while keeping a market perform rating. The stock traded as high as $143.59, above its prior close of $141.22.
• Analyst sentiment remains mixed, with multiple firms issuing neutral or hold-style ratings and only two buy ratings versus ten hold ratings. MarketBeat shows a consensus Hold rating and an average price target of $139.
• The company recently reported quarterly EPS of $2.59, missing estimates, but revenue of $589.4 million topped expectations and rose 5.4% year over year. BOK Financial also paid a quarterly dividend of $0.63 per share, equal to a 1.8% annualized yield.

BOK Financial Corporation (NASDAQ:BOKF - Get Free Report) shares reached a new 52-week high during trading on Friday after Keefe, Bruyette & Woods raised their price target on the stock from $143.00 to $146.00. Keefe, Bruyette & Woods currently has a market perform rating on the stock. BOK Financial traded as high as $143.59 and last traded at $143.1180, with a volume of 60917 shares. The stock had previously closed at $141.22.

Several other research analysts have also recently issued reports on BOKF. Citigroup reissued a "neutral" rating on shares of BOK Financial in a report on Thursday. Weiss Ratings reissued a "buy (b)" rating on shares of BOK Financial in a report on Tuesday, June 9th. Barclays boosted their price target on BOK Financial from $145.00 to $150.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Raymond James Financial downgraded BOK Financial from an "outperform" rating to a "market perform" rating in a research note on Wednesday, July 1st. Finally, DA Davidson reiterated a "neutral" rating and set a $150.00 target price on shares of BOK Financial in a research report on Tuesday. Two analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $139.00.

Insiders Place Their Bets

In related news, Director Steven Bangert sold 500 shares of BOK Financial 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 in the company, valued at approximately $1,407,920.76. This trade represents a 4.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Mark B. Wade sold 1,700 shares of the business's stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $132.62, for a total transaction of $225,454.00. Following the completion of the transaction, the executive vice president directly owned 20,361 shares of the company's stock, valued at approximately $2,700,275.82. This represents a 7.71% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 4,300 shares of company stock worth $575,947. Corporate insiders own 63.53% of the company's stock.

Institutional Trading of BOK Financial

Several institutional investors have recently made changes to their positions in BOKF. Cibc World Markets Corp acquired a new position in BOK Financial in the fourth quarter valued at $130,994,000. Freestone Grove Partners LP grew its holdings in shares of BOK Financial by 407.0% during the 3rd 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 acquired a new stake in BOK Financial during the 4th quarter worth approximately $32,755,000. Cibc World Market Inc. increased its position in BOK Financial by 39.0% during the 4th quarter. Cibc World Market Inc. now owns 908,800 shares of the bank's stock worth $107,656,000 after purchasing an additional 254,800 shares in the last quarter. Finally, Qube Research & Technologies Ltd lifted its position in 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 buying an additional 149,201 shares in the last quarter. 34.44% of the stock is owned by hedge funds and other institutional investors.

BOK Financial Trading Up 0.9%

The firm's 50 day simple moving average is $134.16 and its 200-day simple moving average is $131.51. The company has a market capitalization of $8.66 billion, a PE ratio of 13.45 and a beta of 0.80. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.03.

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 analysts' consensus estimates of $2.68 by ($0.09). BOK Financial had a net margin of 18.97% and a return on equity of 10.13%. The business had revenue of $589.40 million during the quarter, compared to analysts' expectations of $568.08 million. During the same period in the prior year, the business posted $2.19 EPS. The business's revenue was up 5.4% on a year-over-year basis. As a group, equities research analysts anticipate that BOK Financial Corporation will post 10.41 EPS for the current year.

BOK Financial Announces Dividend

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

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.

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