BOK Financial (NASDAQ:BOKF) Reaches New 1-Year High – Still a Buy?

BOK Financial Co. (NASDAQ:BOKF)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $119.71 and last traded at $119.71, with a volume of 3656 shares. The stock had previously closed at $117.53.

Wall Street Analyst Weigh In

BOKF has been the subject of several recent analyst reports. Wedbush reissued a “neutral” rating and issued a $115.00 price objective on shares of BOK Financial in a report on Tuesday, October 22nd. Truist Financial raised shares of BOK Financial from a “hold” rating to a “buy” rating and lifted their price objective for the company from $112.00 to $123.00 in a research report on Friday, September 20th. DA Davidson dropped their target price on shares of BOK Financial from $124.00 to $123.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Royal Bank of Canada lifted their price target on BOK Financial from $111.00 to $113.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 23rd. Finally, Stephens dropped their price objective on BOK Financial from $116.00 to $114.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 23rd. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $112.20.

BOK Financial Stock Performance

The stock’s 50-day simple moving average is $109.03 and its 200-day simple moving average is $100.75. The stock has a market cap of $7.65 billion, a price-to-earnings ratio of 16.40 and a beta of 1.17. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.87.

BOK Financial (NASDAQ:BOKF) last posted its quarterly earnings data on Monday, October 21st. The bank reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.20. BOK Financial had a return on equity of 9.67% and a net margin of 13.78%. The firm had revenue of $888.50 million for the quarter, compared to analyst estimates of $509.43 million. During the same quarter last year, the company earned $2.04 EPS. Analysts forecast that BOK Financial Co. will post 8.08 earnings per share for the current fiscal year.

BOK Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Friday, November 15th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 1.91%. This is a boost from BOK Financial’s previous quarterly dividend of $0.55. The ex-dividend date is Friday, November 15th. BOK Financial’s dividend payout ratio (DPR) is 31.36%.

Insider Buying and Selling at BOK Financial

In other BOK Financial news, Director Steven Bangert sold 2,000 shares of BOK Financial stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $117.83, for a total value of $235,660.00. Following the transaction, the director now owns 44,709 shares in the company, valued at $5,268,061.47. The trade was a 4.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 56.94% of the company’s stock.

Hedge Funds Weigh In On BOK Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in BOKF. Edgestream Partners L.P. bought a new position in shares of BOK Financial in the 2nd quarter valued at $3,429,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of 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 in the last quarter. Sei Investments Co. bought a new stake in shares of BOK Financial during the first quarter worth about $468,000. Creative Planning increased its stake in shares of BOK Financial by 130.1% in the third quarter. Creative Planning now owns 11,946 shares of the bank’s stock valued at $1,250,000 after buying an additional 6,755 shares during the period. Finally, Sanctuary Advisors LLC bought a new position in BOK Financial in the 2nd quarter valued at approximately $540,000. Institutional investors own 34.44% of the company’s stock.

BOK Financial Company Profile

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.