BOK Financial (NASDAQ:BOKF) Reaches New 12-Month High – Still a Buy?

BOK Financial Corporation (NASDAQ:BOKF)’s share price hit a new 52-week high on Monday . The company traded as high as $121.61 and last traded at $121.41, with a volume of 63419 shares traded. The stock had previously closed at $119.98.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on BOKF shares. Weiss Ratings restated a “buy (b-)” rating on shares of BOK Financial in a research report on Wednesday, October 8th. Wells Fargo & Company dropped their price objective on BOK Financial from $110.00 to $105.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 22nd. Barclays boosted their price objective on BOK Financial from $120.00 to $125.00 and gave the company an “equal weight” rating in a research report on Friday, December 19th. Jefferies Financial Group set a $135.00 target price on BOK Financial and gave the company a “buy” rating in a research report on Wednesday, October 8th. Finally, Credit Suisse Group set a $116.00 price target on shares of BOK Financial in a report on Wednesday, October 22nd. Three research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $117.00.

BOK Financial Trading Up 0.4%

The stock has a market capitalization of $7.68 billion, a PE ratio of 14.48 and a beta of 0.88. The company’s 50 day moving average price is $111.18 and its two-hundred day moving average price is $107.45. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.76 and a quick ratio of 0.76.

BOK Financial (NASDAQ:BOKF) last announced its quarterly earnings data on Monday, September 8th. The bank reported $2.02 earnings per share (EPS) for the quarter. The company had revenue of $298.49 million during the quarter. BOK Financial had a net margin of 15.98% and a return on equity of 9.24%. As a group, analysts expect that BOK Financial Corporation will post 8.83 earnings per share for the current year.

BOK Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 12th were paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.1%. This is an increase from BOK Financial’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend was Wednesday, November 12th. BOK Financial’s dividend payout ratio is presently 30.04%.

Insider Activity

In other news, Director Steven Bangert sold 1,000 shares of BOK Financial stock in a transaction on Monday, December 1st. The stock was sold at an average price of $114.89, for a total transaction of $114,890.00. Following the transaction, the director owned 37,416 shares in the company, valued at $4,298,724.24. The trade was a 2.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders sold 3,500 shares of company stock valued at $380,395. 60.14% of the stock is owned by company insiders.

Institutional Investors Weigh In On BOK Financial

Hedge funds and other institutional investors have recently bought and sold shares of the company. Versant Capital Management Inc increased its holdings in shares of BOK Financial by 92.5% during the 3rd quarter. Versant Capital Management Inc now owns 256 shares of the bank’s stock worth $29,000 after buying an additional 123 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new position in BOK Financial in the third quarter worth approximately $41,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in BOK Financial during the first quarter worth $47,000. Quent Capital LLC purchased a new stake in BOK Financial in the third quarter valued at $47,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of BOK Financial by 109.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 500 shares of the bank’s stock valued at $49,000 after purchasing an additional 261 shares during the last quarter. 34.44% of the stock is currently owned by institutional investors and hedge funds.

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.