BOK Financial (NASDAQ:BOKF) Sets New 52-Week High Following Better-Than-Expected Earnings

BOK Financial Co. (NASDAQ:BOKF)’s stock price reached a new 52-week high during mid-day trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $93.51 and last traded at $92.09, with a volume of 64555 shares traded. The stock had previously closed at $91.11.

The bank reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.19. The business had revenue of $806.91 million for the quarter, compared to analyst estimates of $473.70 million. BOK Financial had a return on equity of 10.62% and a net margin of 13.93%. During the same period last year, the firm posted $2.43 earnings per share.

BOK Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th were paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date was Tuesday, February 13th. BOK Financial’s payout ratio is 32.07%.

Analysts Set New Price Targets

A number of analysts have recently commented on BOKF shares. StockNews.com lowered BOK Financial from a “hold” rating to a “sell” rating in a research note on Thursday, March 21st. Raymond James reissued an “outperform” rating and set a $105.00 price target (up from $103.00) on shares of BOK Financial in a research note on Thursday. Citigroup lifted their price target on BOK Financial from $90.00 to $92.00 and gave the company a “neutral” rating in a research note on Wednesday, March 13th. Stephens lifted their price target on BOK Financial from $96.00 to $98.00 and gave the company an “equal weight” rating in a research note on Thursday, January 25th. Finally, Truist Financial lifted their price target on BOK Financial from $90.00 to $99.00 and gave the company a “hold” rating in a research note on Monday, April 1st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $97.30.

Insider Transactions at BOK Financial

In other BOK Financial news, Director Steven Bangert sold 3,000 shares of BOK Financial stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $81.59, for a total value of $244,770.00. Following the completion of the sale, the director now directly owns 50,985 shares in the company, valued at $4,159,866.15. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 56.94% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On BOK Financial

Several hedge funds and other institutional investors have recently modified their holdings of BOKF. Norges Bank bought a new stake in shares of BOK Financial during the fourth quarter valued at approximately $27,170,000. Dimensional Fund Advisors LP increased its holdings in shares of BOK Financial by 13.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,906,002 shares of the bank’s stock valued at $163,252,000 after acquiring an additional 221,785 shares in the last quarter. Wellington Management Group LLP bought a new stake in shares of BOK Financial during the third quarter valued at approximately $5,375,000. George Kaiser Family Foundation boosted its position in shares of BOK Financial by 1.2% during the fourth quarter. George Kaiser Family Foundation now owns 3,361,707 shares of the bank’s stock valued at $287,930,000 after buying an additional 38,898 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its position in shares of BOK Financial by 233.7% during the third quarter. O Shaughnessy Asset Management LLC now owns 47,983 shares of the bank’s stock valued at $3,838,000 after buying an additional 33,602 shares during the last quarter. Institutional investors own 34.44% of the company’s stock.

BOK Financial Stock Performance

The company has a market cap of $5.81 billion, a PE ratio of 13.11 and a beta of 1.21. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.52. The company has a 50-day moving average of $87.41 and a 200-day moving average of $81.42.

About BOK Financial

BOK Financial Corporation operates as the financial holding company for BOKF, NA that provides various financial products and services in Oklahoma, Texas, New Mexico, Northwest Arkansas, Colorado, Arizona, and Kansas/Missouri. It operates through three segments: Commercial Banking, Consumer Banking, and Wealth Management.