BOK Financial Co. (NASDAQ:BOKF)‘s stock had its “equal weight” rating reissued by equities researchers at Morgan Stanley in a research report issued on Saturday. They presently have a $81.00 price objective on the bank’s stock, up from their prior price objective of $80.00. Morgan Stanley’s target price would suggest a potential downside of 0.23% from the stock’s previous close.
Several other brokerages have also weighed in on BOKF. TheStreet lowered shares of BOK Financial from a “b” rating to a “c+” rating in a research note on Wednesday, February 8th. Zacks Investment Research raised shares of BOK Financial from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a research note on Wednesday, March 29th. Royal Bank of Canada reaffirmed a “hold” rating on shares of BOK Financial in a research note on Thursday, April 27th. Wedbush increased their target price on shares of BOK Financial from $79.00 to $83.00 and gave the stock a “neutral” rating in a research note on Thursday, April 27th. Finally, Keefe, Bruyette & Woods set a $90.00 target price on shares of BOK Financial and gave the stock a “hold” rating in a research note on Tuesday, April 4th. Nine research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $85.29.
BOK Financial (NASDAQ BOKF) traded down 0.16% during trading on Friday, hitting $81.19. 305,861 shares of the company were exchanged. The stock’s 50-day moving average is $81.72 and its 200-day moving average is $81.46. BOK Financial has a 12 month low of $56.08 and a 12 month high of $88.78. The company has a market capitalization of $5.31 billion, a price-to-earnings ratio of 19.17 and a beta of 0.90.
BOK Financial (NASDAQ:BOKF) last released its quarterly earnings data on Wednesday, April 26th. The bank reported $1.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.31. BOK Financial had a net margin of 15.20% and a return on equity of 6.85%. The firm had revenue of $365.53 million during the quarter, compared to analysts’ expectations of $358.93 million. During the same period last year, the business earned $0.64 earnings per share. BOK Financial’s revenue was up 17.6% compared to the same quarter last year. Equities research analysts anticipate that BOK Financial will post $5.25 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, May 26th. Investors of record on Friday, May 12th were paid a $0.44 dividend. The ex-dividend date was Wednesday, May 10th. This represents a $1.76 dividend on an annualized basis and a yield of 2.17%. BOK Financial’s dividend payout ratio is currently 49.86%.
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In other BOK Financial news, EVP Donald T. Parker sold 5,312 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $82.01, for a total transaction of $435,637.12. Following the sale, the executive vice president now owns 43,510 shares of the company’s stock, valued at $3,568,255.10. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Stephen D. Grossi sold 1,158 shares of the firm’s stock in a transaction that occurred on Tuesday, March 28th. The stock was sold at an average price of $76.65, for a total transaction of $88,760.70. Following the sale, the executive vice president now directly owns 13,151 shares in the company, valued at approximately $1,008,024.15. The disclosure for this sale can be found here. Insiders sold 14,985 shares of company stock valued at $1,231,453 in the last quarter. 61.30% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the company. Denver Investment Advisors LLC boosted its stake in BOK Financial by 42.2% in the fourth quarter. Denver Investment Advisors LLC now owns 21,764 shares of the bank’s stock worth $1,808,000 after buying an additional 6,464 shares during the last quarter. Guggenheim Capital LLC boosted its stake in BOK Financial by 12.6% in the fourth quarter. Guggenheim Capital LLC now owns 33,047 shares of the bank’s stock worth $2,744,000 after buying an additional 3,697 shares during the last quarter. Tudor Investment Corp Et Al bought a new stake in BOK Financial during the fourth quarter worth $532,000. Silvercrest Asset Management Group LLC bought a new stake in BOK Financial during the fourth quarter worth $332,000. Finally, Envestnet Asset Management Inc. boosted its stake in BOK Financial by 4.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 15,930 shares of the bank’s stock worth $1,323,000 after buying an additional 750 shares during the last quarter. 36.25% of the stock is currently owned by institutional investors.
About BOK Financial
BOK Financial Corporation is a financial holding company. The Company offers full service banking in Oklahoma, Texas, New Mexico, Northwest Arkansas, Colorado, Arizona and Kansas/Missouri. The Company’s segments include Commercial Banking, Consumer Banking, Wealth Management, and Funds Management and Other.
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