BOK Financial (NASDAQ:BOKF) Price Target Raised to $99.00

BOK Financial (NASDAQ:BOKF) had its target price raised by Royal Bank of Canada from $98.00 to $99.00 in a research report released on Tuesday morning, Benzinga reports. They currently have a sector perform rating on the bank’s stock.

A number of other research analysts also recently weighed in on the stock. Raymond James reiterated an outperform rating and issued a $105.00 price objective (up previously from $103.00) on shares of BOK Financial in a research report on Thursday, April 25th. DA Davidson upped their price objective on shares of BOK Financial from $90.00 to $97.00 and gave the stock a neutral rating in a research report on Thursday, April 25th. Keefe, Bruyette & Woods upped their price objective on shares of BOK Financial from $97.00 to $100.00 and gave the stock a market perform rating in a research report on Thursday, April 25th. Truist Financial decreased their price objective on shares of BOK Financial from $97.00 to $94.00 and set a hold rating for the company in a research report on Monday, July 8th. Finally, Hovde Group upgraded shares of BOK Financial from a market perform rating to an outperform rating in a research report on Monday, June 10th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $96.90.

BOK Financial Price Performance

Shares of BOKF opened at $95.43 on Tuesday. The firm has a market capitalization of $6.16 billion, a PE ratio of 13.91 and a beta of 1.19. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.82 and a quick ratio of 0.82. BOK Financial has a 1-year low of $62.42 and a 1-year high of $96.40. The company’s fifty day moving average price is $91.01 and its 200-day moving average price is $87.79.

BOK Financial (NASDAQ:BOKF) last posted its quarterly earnings results on Tuesday, April 30th. The bank reported $1.91 EPS for the quarter, beating the consensus estimate of $1.72 by $0.19. The company had revenue of $806.91 million for the quarter, compared to analyst estimates of $473.70 million. BOK Financial had a net margin of 13.93% and a return on equity of 10.52%. During the same period in the prior year, the company earned $2.43 earnings per share. On average, equities research analysts predict that BOK Financial will post 7.7 EPS for the current year.

BOK Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Wednesday, May 15th were paid a dividend of $0.55 per share. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $2.20 annualized dividend and a yield of 2.31%. BOK Financial’s dividend payout ratio is presently 32.07%.

Insider Activity at BOK Financial

In related news, Director Steven Bangert sold 3,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $91.66, for a total transaction of $274,980.00. Following the completion of the sale, the director now owns 47,985 shares of the company’s stock, valued at approximately $4,398,305.10. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 56.94% of the stock is owned by corporate insiders.

Institutional Trading of BOK Financial

Several large investors have recently bought and sold shares of the business. George Kaiser Family Foundation grew its stake in BOK Financial by 1.2% during the 4th quarter. George Kaiser Family Foundation now owns 3,361,707 shares of the bank’s stock valued at $287,930,000 after acquiring an additional 38,898 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of BOK Financial by 13.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,906,002 shares of the bank’s stock valued at $163,252,000 after buying an additional 221,785 shares during the period. BOKF NA grew its stake in shares of BOK Financial by 0.9% in the 4th quarter. BOKF NA now owns 711,535 shares of the bank’s stock valued at $60,943,000 after buying an additional 6,632 shares during the period. Norges Bank purchased a new stake in shares of BOK Financial in the 4th quarter valued at approximately $27,170,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of BOK Financial by 5.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 263,488 shares of the bank’s stock valued at $22,568,000 after buying an additional 12,892 shares during the period. Hedge funds and other 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.