BOK Financial (NASDAQ:BOKF) Sets New 1-Year High – What’s Next?

BOK Financial Co. (NASDAQ:BOKF)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $115.00 and last traded at $114.53, with a volume of 3989 shares changing hands. The stock had previously closed at $106.99.

Analyst Ratings Changes

BOKF has been the topic of a number of recent analyst reports. Truist Financial upgraded shares of BOK Financial from a “hold” rating to a “buy” rating and upped their target price for the company from $112.00 to $123.00 in a research note on Friday, September 20th. StockNews.com raised shares of BOK Financial from a “sell” rating to a “hold” rating in a research report on Friday, July 26th. DA Davidson lowered their price objective on shares of BOK Financial from $124.00 to $123.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Royal Bank of Canada boosted their price objective on shares of BOK Financial from $111.00 to $113.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 23rd. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of BOK Financial from $100.00 to $110.00 and gave the company a “market perform” rating in a research report on Thursday, July 25th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $112.20.

BOK Financial Trading Up 9.2 %

The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.87. The stock has a market cap of $7.49 billion, a P/E ratio of 14.72 and a beta of 1.17. The firm’s 50-day simple moving average is $105.42 and its 200 day simple moving average is $98.32.

BOK Financial (NASDAQ:BOKF) last posted its quarterly earnings data on Monday, October 21st. The bank reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.20. The business had revenue of $888.50 million during the quarter, compared to analysts’ expectations of $509.43 million. BOK Financial had a net margin of 13.78% and a return on equity of 9.67%. During the same period last year, the firm posted $2.04 earnings per share. As a group, equities research analysts anticipate that BOK Financial Co. will post 7.95 earnings per share for the current year.

BOK Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th will be issued a $0.57 dividend. The ex-dividend date is Friday, November 15th. This is a boost from BOK Financial’s previous quarterly dividend of $0.55. This represents a $2.28 annualized dividend and a dividend yield of 1.95%. BOK Financial’s dividend payout ratio (DPR) is 30.26%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its holdings in shares of BOK Financial by 6.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,176,031 shares of the bank’s stock valued at $199,405,000 after acquiring an additional 125,950 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in BOK Financial by 4,370,260.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 218,518 shares of the bank’s stock valued at $20,025,000 after purchasing an additional 218,513 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in BOK Financial by 11.7% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 126,228 shares of the bank’s stock valued at $11,567,000 after purchasing an additional 13,175 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in BOK Financial by 23.3% during the first quarter. Jacobs Levy Equity Management Inc. now owns 39,174 shares of the bank’s stock valued at $3,604,000 after purchasing an additional 7,412 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its stake in BOK Financial by 71.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 37,532 shares of the bank’s stock valued at $3,168,000 after purchasing an additional 15,626 shares during the last quarter. 34.44% of the stock is currently owned by institutional investors.

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.