BOK Financial (NASDAQ:BOKF) Upgraded at StockNews.com

StockNews.com upgraded shares of BOK Financial (NASDAQ:BOKF) from a hold rating to a buy rating in a research note released on Wednesday morning.

BOKF has been the subject of a number of other reports. Wedbush restated a “neutral” rating and set a $115.00 price target on shares of BOK Financial in a report on Tuesday, October 22nd. Stephens lowered their target price on BOK Financial from $135.00 to $127.00 and set an “equal weight” rating on the stock in a report on Wednesday. Wells Fargo & Company upped their price target on BOK Financial from $105.00 to $112.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 3rd. Keefe, Bruyette & Woods boosted their target price on shares of BOK Financial from $112.00 to $125.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Finally, Royal Bank of Canada increased their price target on shares of BOK Financial from $115.00 to $120.00 and gave the company a “sector perform” rating in a report on Wednesday. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $116.40.

BOK Financial Stock Performance

Shares of NASDAQ BOKF opened at $109.91 on Wednesday. The business’s 50-day simple moving average is $112.82 and its 200-day simple moving average is $107.24. BOK Financial has a 52 week low of $78.99 and a 52 week high of $121.58. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.79 and a current ratio of 0.79. The firm has a market cap of $7.05 billion, a price-to-earnings ratio of 13.52 and a beta of 1.20.

BOK Financial (NASDAQ:BOKF) last released its quarterly earnings results on Friday, January 17th. The bank reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.97 by $0.15. BOK Financial had a net margin of 15.32% and a return on equity of 9.96%. As a group, equities research analysts expect that BOK Financial will post 8.52 earnings per share for the current fiscal year.

BOK Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Friday, November 15th were given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend was Friday, November 15th. This is a positive change from BOK Financial’s previous quarterly dividend of $0.55. BOK Financial’s dividend payout ratio is 28.04%.

Insider Buying and Selling at BOK Financial

In related news, Director Steven Bangert sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $117.83, for a total transaction of $235,660.00. Following the completion of the transaction, the director now owns 44,709 shares in the company, valued at $5,268,061.47. This trade represents a 4.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 56.94% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Jacobs Levy Equity Management Inc. grew its holdings in shares of BOK Financial by 28.0% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 223,745 shares of the bank’s stock worth $23,408,000 after purchasing an additional 48,942 shares during the last quarter. Point72 Asset Management L.P. boosted its position in BOK Financial by 55.6% in the third quarter. Point72 Asset Management L.P. now owns 136,833 shares of the bank’s stock valued at $14,315,000 after buying an additional 48,874 shares in the last quarter. Jane Street Group LLC grew its stake in BOK Financial by 309.8% during the third quarter. Jane Street Group LLC now owns 44,561 shares of the bank’s stock worth $4,662,000 after buying an additional 33,686 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of BOK Financial during the third quarter worth approximately $1,923,000. Finally, Sei Investments Co. raised its stake in shares of BOK Financial by 304.9% in the second quarter. Sei Investments Co. now owns 20,602 shares of the bank’s stock valued at $1,888,000 after acquiring an additional 15,514 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 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.