BOK Financial (NASDAQ:BOKF) Sets New 52-Week High – Here’s Why

BOK Financial Corporation (NASDAQ:BOKF) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $122.16 and last traded at $120.6450, with a volume of 3272 shares changing hands. The stock had previously closed at $121.90.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BOKF. DA Davidson increased their price objective on BOK Financial from $120.00 to $122.00 and gave the company a “buy” rating in a research report on Wednesday, October 22nd. Keefe, Bruyette & Woods reduced their price target on shares of BOK Financial from $118.00 to $116.00 and set a “market perform” rating for the company in a report on Wednesday, October 22nd. Royal Bank Of Canada boosted their price objective on shares of BOK Financial from $110.00 to $124.00 and gave the stock a “sector perform” rating in a report on Friday, October 10th. Wells Fargo & Company cut their price objective on shares of BOK Financial from $110.00 to $105.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 22nd. Finally, Hovde Group lowered BOK Financial from an “outperform” rating to a “market perform” rating and set a $129.00 price target on the stock. in a research note on Friday, December 12th. Three investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $117.00.

BOK Financial Stock Performance

The firm has a market capitalization of $7.63 billion, a price-to-earnings ratio of 14.39 and a beta of 0.88. The firm’s 50-day moving average price is $112.02 and its two-hundred day moving average price is $108.00. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.76 and a current ratio of 0.76.

BOK Financial (NASDAQ:BOKF) last released its quarterly earnings data on Monday, September 8th. The bank reported $2.02 earnings per share for the quarter. BOK Financial had a return on equity of 9.24% and a net margin of 15.98%.The company had revenue of $298.49 million for the quarter. Sell-side analysts predict 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 is an increase from BOK Financial’s previous quarterly dividend of $0.57. This represents a $2.52 annualized dividend and a yield of 2.1%. The ex-dividend date was Wednesday, November 12th. BOK Financial’s dividend payout ratio is currently 30.04%.

Insider Activity at BOK Financial

In other news, Director Steven Bangert sold 1,000 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $114.89, for a total value of $114,890.00. Following the sale, the director owned 37,416 shares of the company’s stock, valued at approximately $4,298,724.24. This represents a 2.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders have sold 3,500 shares of company stock valued at $380,395. 60.14% of the stock is currently owned by insiders.

Institutional Trading of BOK Financial

Large investors have recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. increased its position in BOK Financial by 50.9% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 16,757 shares of the bank’s stock valued at $1,636,000 after acquiring an additional 5,650 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in shares of BOK Financial by 11.9% during the second quarter. Envestnet Asset Management Inc. now owns 27,263 shares of the bank’s stock valued at $2,662,000 after purchasing an additional 2,909 shares during the last quarter. Northern Trust Corp increased its holdings in shares of BOK Financial by 25.1% in the first quarter. Northern Trust Corp now owns 182,347 shares of the bank’s stock valued at $18,991,000 after purchasing an additional 36,630 shares in the last quarter. Capital Fund Management S.A. bought a new position in BOK Financial in the 2nd quarter worth approximately $1,149,000. Finally, Vanguard Personalized Indexing Management LLC lifted its holdings in BOK Financial by 44.2% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 3,983 shares of the bank’s stock worth $391,000 after buying an additional 1,220 shares in the last quarter. 34.44% of the stock is owned by institutional investors.

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.