BOK Financial (NASDAQ:BOKF) Hits New 52-Week High – What’s Next?

BOK Financial Corporation (NASDAQ:BOKF)’s stock price reached a new 52-week high on Friday . The stock traded as high as $146.38 and last traded at $145.96, with a volume of 10316 shares traded. The stock had previously closed at $145.65.

Wall Street Analysts Forecast Growth

BOKF has been the topic of a number of research analyst reports. Barclays upped their price target on shares of BOK Financial from $150.00 to $155.00 and gave the stock an “equal weight” rating in a report on Monday, August 3rd. Citigroup reiterated a “neutral” rating on shares of BOK Financial in a report on Thursday, July 23rd. Wells Fargo & Company boosted their price objective on shares of BOK Financial from $138.00 to $148.00 and gave the company an “equal weight” rating in a research report on Monday. DA Davidson restated a “neutral” rating and issued a $150.00 target price on shares of BOK Financial in a research note on Tuesday, July 21st. Finally, Benchmark started coverage on shares of BOK Financial in a research report on Wednesday, June 24th. They set a “hold” rating on the stock. Two analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $140.36.

BOK Financial Stock Up 0.3%

The firm has a market capitalization of $8.87 billion, a P/E ratio of 13.77 and a beta of 0.80. 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 business’s fifty day moving average price is $138.56 and its two-hundred day moving average price is $133.26.

BOK Financial (NASDAQ:BOKF) last posted its quarterly earnings data on Monday, July 20th. The bank reported $2.59 EPS for the quarter, missing the consensus estimate of $2.68 by ($0.09). BOK Financial had a return on equity of 10.09% and a net margin of 18.97%.The firm had revenue of $602.54 million for the quarter, compared to the consensus estimate of $568.08 million. During the same quarter last year, the firm earned $2.19 EPS. The company’s revenue was up 5.4% compared to the same quarter last year. Equities analysts expect that BOK Financial Corporation will post 10.32 earnings per share for the current fiscal year.

BOK Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Wednesday, August 19th. BOK Financial’s payout ratio is currently 23.75%.

Insiders Place Their Bets

In other news, EVP Brad A. Vincent sold 4,015 shares of the firm’s stock in a transaction on Tuesday, August 4th. The stock was 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 of the company’s stock, valued at $877,028.02. This trade represents a 39.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven Bangert sold 1,250 shares of the business’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $143.96, for a total value of $179,950.00. Following the transaction, the director owned 31,710 shares in the company, valued at approximately $4,564,971.60. This trade represents a 3.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 5,274 shares of company stock worth $765,067. Insiders own 63.53% of the company’s stock.

Institutional Investors Weigh In On BOK Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pinnacle Holdings LLC purchased a new stake in shares of BOK Financial during the second quarter worth about $36,000. Diamond Hill Capital Management LLC Investment Advisor purchased a new position in shares of BOK Financial in the 2nd quarter valued at approximately $1,668,000. Bank of New York Mellon Corp purchased a new position in shares of BOK Financial in the 2nd quarter valued at approximately $20,008,000. Everpar Advisors LLC acquired a new stake in BOK Financial in the 2nd quarter worth approximately $217,000. Finally, Versant Capital Management Inc boosted its stake in BOK Financial by 47.6% in the 2nd quarter. Versant Capital Management Inc now owns 375 shares of the bank’s stock worth $52,000 after purchasing an additional 121 shares in the last quarter. 34.44% of the stock is currently owned by hedge funds and other 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.