BOK Financial (NASDAQ:BOKF) Share Price Breaks Above 50-Day Moving Average - Here's What Happened

Key Points

• BOK Financial shares crossed above their 50-day moving average, reaching $132.98 before closing at $132.37, with trading volume of 597,329 shares.
• Analyst sentiment remains cautious: the stock has an overall “Hold” rating, with two Buys, ten Holds and one Sell, and an average price target of $143.27.
• Recent quarterly results were mixed: BOK Financial reported adjusted EPS of $2.64, beating estimates, while revenue fell 34.3% year over year to $561.45 million. The company also maintains a quarterly dividend of $0.63 per share, yielding about 1.9%.

BOK Financial Corporation (NASDAQ:BOKF - Get Free Report) shares crossed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $131.49 and traded as high as $132.98. BOK Financial shares last traded at $132.37, with a volume of 597,329 shares.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Weiss Ratings reiterated a "buy (b)" rating on shares of BOK Financial in a report on Friday, September 4th. Citigroup decreased their target price on shares of BOK Financial from $146.00 to $140.00 and set a "neutral" rating for the company in a research report on Thursday, October 22nd. Keefe, Bruyette & Woods lifted 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 note on Friday, July 24th. Stephens cut their price target on shares of BOK Financial from $148.00 to $141.00 and set an "equal weight" rating on the stock in a research report on Wednesday, October 21st. Finally, Wells Fargo & Company cut shares of BOK Financial from an "equal weight" rating to an "underweight" rating and cut their price target for the stock from $148.00 to $135.00 in a research report on Tuesday, September 29th. Two equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, BOK Financial has an average rating of "Hold" and an average price target of $143.27.

BOK Financial Price Performance

The stock has a market cap of $8.04 billion, a price-to-earnings ratio of 12.00 and a beta of 0.82. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.78 and a current ratio of 0.78. The company has a 50-day simple moving average of $131.49 and a two-hundred day simple moving average of $132.86.

BOK Financial (NASDAQ:BOKF - Get Free Report) last released its quarterly earnings data on Monday, October 19th. The bank reported $2.64 EPS for the quarter, beating the consensus estimate of $2.52 by $0.12. BOK Financial had a return on equity of 10.41% and a net margin of 19.53%. The company had revenue of $561.45 million during the quarter, compared to the consensus estimate of $571.40 million. During the same quarter in the prior year, the firm posted $2.22 EPS. The firm's revenue for the quarter was down 34.3% compared to the same quarter last year. As a group, equities research analysts forecast that BOK Financial Corporation will post 10.41 EPS for the current year.

BOK Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th were given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Wednesday, August 19th. BOK Financial's dividend payout ratio is 22.85%.

Insiders Place Their Bets

In other BOK Financial news, EVP Brad Vincent sold 4,015 shares of the stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $145.42, for a total value of $583,861.30. Following the completion of the sale, the executive vice president owned 6,031 shares in the company, valued at $877,028.02. This trade represents a 39.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Steven Bangert sold 1,250 shares of BOK Financial stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $143.96, for a total transaction of $179,950.00. Following the completion of the transaction, the director directly owned 31,710 shares of the company's stock, valued at approximately $4,564,971.60. This trade represents a 3.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 63.53% of the company's stock.

Hedge Funds Weigh In On BOK Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp bought a new stake in BOK Financial in the 2nd quarter valued at $20,008,000. Bank of America Corp DE boosted its position in BOK Financial by 135.8% during the first quarter. Bank of America Corp DE now owns 139,910 shares of the bank's stock worth $17,917,000 after purchasing an additional 80,582 shares during the period. Edgestream Partners L.P. bought a new position in BOK Financial during the first quarter worth $6,248,000. Dimensional Fund Advisors LP boosted its position in BOK Financial by 1.3% during the first quarter. Dimensional Fund Advisors LP now owns 2,708,525 shares of the bank's stock worth $346,843,000 after purchasing an additional 34,833 shares during the period. Finally, Readystate Asset Management LP acquired a new position in shares of BOK Financial in the first quarter valued at $2,459,000. Institutional investors own 34.44% of the company's stock.

BOK Financial Company Profile

BOK Financial Corporation is a financial services holding company headquartered in Tulsa, Oklahoma. Through its banking and financial-services subsidiaries, the company serves businesses, institutions, individuals and families across the central and southwestern United States.

The company provides commercial banking, consumer banking, wealth management and capital markets services. Its offerings include deposit accounts, commercial and consumer loans, treasury and cash-management services, investment management, trust and private banking, mortgage lending, investment banking, securities brokerage and institutional trading.

BOK Financial operates under banking brands including Bank of Oklahoma, Bank of Texas and Bank of Albuquerque, with additional operations serving customers in Colorado, Kansas, Missouri and Arkansas.

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