BOK Financial (NASDAQ:BOKF) Hits New 1-Year High – Should You Buy?

BOK Financial Co. (NASDAQ:BOKF) shares hit a new 52-week high during trading on Friday . The stock traded as high as $108.48 and last traded at $108.46, with a volume of 9862 shares changing hands. The stock had previously closed at $105.11.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Royal Bank of Canada raised their price objective on BOK Financial from $99.00 to $114.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 24th. Wedbush raised their price target on BOK Financial from $94.00 to $115.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Wells Fargo & Company upped their price objective on shares of BOK Financial from $100.00 to $102.00 and gave the company an “equal weight” rating in a report on Tuesday, October 1st. Truist Financial upgraded shares of BOK Financial from a “hold” rating to a “buy” rating and lifted their target price for the stock from $112.00 to $123.00 in a research note on Friday, September 20th. Finally, Keefe, Bruyette & Woods upped their price target on shares of BOK Financial from $100.00 to $110.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $109.80.

BOK Financial Trading Up 2.4 %

The firm has a market cap of $6.90 billion, a PE ratio of 14.74 and a beta of 1.17. The company has a 50-day simple moving average of $101.98 and a 200 day simple moving average of $95.72. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 1.27.

BOK Financial (NASDAQ:BOKF) last released its quarterly earnings results on Monday, July 22nd. The bank reported $2.54 EPS for the quarter, beating 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 analyst estimates of $520.43 million. During the same quarter last year, the business earned $2.27 earnings per share. As a group, sell-side analysts forecast that BOK Financial Co. will post 7.85 earnings per share for the current fiscal year.

BOK Financial Announces Dividend

The firm 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. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.20 dividend on an annualized basis and a yield of 2.04%. BOK Financial’s dividend payout ratio is currently 30.86%.

Institutional Trading of BOK Financial

A number of institutional investors and hedge funds have recently made changes to their positions in BOKF. Allspring Global Investments Holdings LLC grew its stake in BOK Financial by 4,370,260.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 218,518 shares of the bank’s stock valued at $20,025,000 after acquiring an additional 218,513 shares during the period. Dimensional Fund Advisors LP grew its position 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 purchasing an additional 125,950 shares during the period. Edgestream Partners L.P. purchased a new stake in shares of BOK Financial during the second quarter worth about $3,429,000. State Board of Administration of Florida Retirement System raised its position in shares of BOK Financial by 71.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 37,532 shares of the bank’s stock worth $3,168,000 after purchasing an additional 15,626 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in BOK Financial by 304.9% in the 2nd quarter. Sei Investments Co. now owns 20,602 shares of the bank’s stock worth $1,888,000 after buying an additional 15,514 shares during the last quarter. 34.44% of the stock is currently owned by hedge funds and other institutional investors.

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.