BOK Financial (NASDAQ:BOKF) Reaches New 1-Year High – Here’s Why

Shares of BOK Financial Corporation (NASDAQ:BOKF) reached a new 52-week high during trading on Thursday . The stock traded as high as $142.33 and last traded at $141.9550, with a volume of 19589 shares changing hands. The stock had previously closed at $139.33.

Analyst Upgrades and Downgrades

BOKF has been the topic of several recent analyst reports. DA Davidson increased their target price on shares of BOK Financial from $132.00 to $139.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 22nd. Wells Fargo & Company lifted their price target on BOK Financial from $130.00 to $138.00 and gave the company an “equal weight” rating in a research note on Monday, July 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of BOK Financial in a report on Tuesday, June 9th. Zacks Research downgraded BOK Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Finally, Raymond James Financial downgraded BOK Financial from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 1st. Two equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $136.18.

BOK Financial Trading Down 1.3%

The company’s fifty day simple moving average is $133.16 and its 200-day simple moving average is $130.82. The firm has a market capitalization of $8.58 billion, a PE ratio of 14.30 and a beta of 0.80. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.81 and a quick ratio of 0.81.

BOK Financial (NASDAQ:BOKF) last released its earnings results on Monday, April 20th. The bank reported $2.58 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.28. BOK Financial had a net margin of 18.05% and a return on equity of 9.89%. The business had revenue of $553.82 million during the quarter, compared to analysts’ expectations of $549.71 million. During the same quarter in the previous year, the company earned $1.86 earnings per share. As a group, sell-side analysts expect that BOK Financial Corporation will post 10.28 earnings per share for the current fiscal year.

BOK Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.8%. The ex-dividend date was Wednesday, May 13th. BOK Financial’s payout ratio is presently 25.51%.

Insiders Place Their Bets

In other news, EVP Jeffrey A. Reid sold 1,200 shares of the firm’s stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $135.52, for a total value of $162,624.00. Following the transaction, the executive vice president owned 8,116 shares in the company, valued at $1,099,880.32. This trade represents a 12.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Mark B. Wade sold 1,700 shares of BOK Financial stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $132.62, for a total value of $225,454.00. Following the completion of the sale, the executive vice president directly owned 20,361 shares in the company, valued at $2,700,275.82. This represents a 7.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 5,500 shares of company stock worth $738,571. Corporate insiders own 63.53% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Everpar Advisors LLC purchased a new stake in shares of BOK Financial during the second quarter worth $217,000. Versant Capital Management Inc raised its position in shares of BOK Financial by 47.6% in the second quarter. Versant Capital Management Inc now owns 375 shares of the bank’s stock valued at $52,000 after buying an additional 121 shares during the last quarter. Parallel Advisors LLC lifted its stake in shares of BOK Financial by 1.3% in the first quarter. Parallel Advisors LLC now owns 6,237 shares of the bank’s stock worth $799,000 after buying an additional 80 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of BOK Financial by 135.8% in the first quarter. Bank of America Corp DE now owns 139,910 shares of the bank’s stock worth $17,917,000 after buying an additional 80,582 shares in the last quarter. Finally, Edgestream Partners L.P. acquired a new position in BOK Financial during the first quarter worth about $6,248,000. Hedge funds and other institutional investors own 34.44% of the company’s stock.

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.