BOK Financial (NASDAQ:BOKF) Upgraded to “Buy” by DA Davidson

DA Davidson upgraded shares of BOK Financial (NASDAQ:BOKF) from a neutral rating to a buy rating in a research report sent to investors on Tuesday morning, Marketbeat Ratings reports. They currently have $124.00 target price on the bank’s stock, up from their previous target price of $113.00.

A number of other research analysts have also recently weighed in on the stock. Stephens reiterated an “equal weight” rating and set a $104.00 price objective on shares of BOK Financial in a research report on Tuesday, July 23rd. StockNews.com upgraded shares of BOK Financial from a “sell” rating to a “hold” rating in a report on Friday, July 26th. Wedbush upped their price target on shares of BOK Financial from $94.00 to $115.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Keefe, Bruyette & Woods upped their price target on shares of BOK Financial from $100.00 to $110.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. Finally, Truist Financial raised shares of BOK Financial from a “hold” rating to a “buy” rating and upped their price objective for the stock from $112.00 to $123.00 in a research note on Friday, September 20th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $111.10.

BOK Financial Price Performance

BOKF stock opened at $113.74 on Tuesday. The company’s fifty day moving average price is $103.77 and its 200-day moving average price is $96.61. BOK Financial has a one year low of $62.42 and a one year high of $114.93. The company has a market capitalization of $7.34 billion, a PE ratio of 16.58 and a beta of 1.17. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.81 and a current ratio of 0.82.

BOK Financial (NASDAQ:BOKF) last announced its quarterly earnings results on Monday, July 22nd. The bank reported $2.54 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.65. BOK Financial had a net margin of 13.92% and a return on equity of 9.94%. The company had revenue of $871.84 million for the quarter, compared to analysts’ expectations of $520.43 million. During the same quarter in the previous year, the business posted $2.27 earnings per share. On average, equities analysts anticipate that BOK Financial will post 7.85 EPS for the current fiscal year.

BOK Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Thursday, August 15th were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend was Thursday, August 15th. BOK Financial’s payout ratio is 32.07%.

Hedge Funds Weigh In On BOK Financial

Hedge funds have recently modified their holdings of the stock. Bleakley Financial Group LLC increased its holdings in BOK Financial by 31.6% in the 3rd quarter. Bleakley Financial Group LLC now owns 3,013 shares of the bank’s stock worth $315,000 after buying an additional 724 shares during the period. Creative Planning increased its holdings in BOK Financial by 130.1% in the 3rd quarter. Creative Planning now owns 11,946 shares of the bank’s stock worth $1,250,000 after buying an additional 6,755 shares during the period. CWM LLC increased its holdings in BOK Financial by 211.8% in the 3rd quarter. CWM LLC now owns 1,456 shares of the bank’s stock worth $152,000 after buying an additional 989 shares during the period. SG Americas Securities LLC acquired a new stake in shares of BOK Financial during the 3rd quarter worth approximately $181,000. Finally, Point72 DIFC Ltd acquired a new stake in shares of BOK Financial during the 2nd quarter worth approximately $143,000. Institutional investors and hedge funds 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.