BOK Financial (NASDAQ:BOKF) Sets New 52-Week High – Still a Buy?

by · The Markets Daily

BOK Financial Co. (NASDAQ:BOKF – Get Free Report) reached a new 52-week high on Thursday . The company traded as high as $113.87 and last traded at $113.62, with a volume of 3318 shares trading hands. The stock had previously closed at $112.89.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on BOKF shares. Hovde Group upped their target price on shares of BOK Financial from $106.00 to $122.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. StockNews.com raised shares of BOK Financial from a “sell” rating to a “hold” rating in a research note on Friday, July 26th. Truist Financial raised shares of BOK Financial from a “hold” rating to a “buy” rating and upped their target price for the company from $112.00 to $123.00 in a research note on Friday, September 20th. Royal Bank of Canada boosted their price target on shares of BOK Financial from $99.00 to $114.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 24th. Finally, Stephens restated an “equal weight” rating and issued a $104.00 price target on shares of BOK Financial in a research report on Tuesday, July 23rd. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, BOK Financial has a consensus rating of “Hold” and a consensus price target of $111.10.

Check Out Our Latest Analysis on BOKF

BOK Financial Price Performance

The stock’s 50-day moving average price is $103.10 and its 200-day moving average price is $96.32. The company has a market capitalization of $7.29 billion, a price-to-earnings ratio of 16.46 and a beta of 1.17. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 1.27.

BOK Financial (NASDAQ:BOKF – Get Free Report) last announced its earnings results on Monday, July 22nd. The bank reported $2.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the business earned $2.27 earnings per share. Equities research analysts anticipate that BOK Financial Co. will post 7.85 earnings per share for the current year.

BOK Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Thursday, August 15th were issued a $0.55 dividend. The ex-dividend date was Thursday, August 15th. This represents a $2.20 annualized dividend and a yield of 1.95%. BOK Financial’s dividend payout ratio is currently 32.07%.

Hedge Funds Weigh In On BOK Financial

Several large investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its holdings in 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 buying an additional 125,950 shares during the period. Allspring Global Investments Holdings LLC grew its position in BOK Financial by 4,370,260.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 218,518 shares of the bank’s stock valued at $20,025,000 after purchasing an additional 218,513 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in BOK Financial by 11.7% in 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. Jacobs Levy Equity Management Inc. grew its position in BOK Financial by 23.3% in the first quarter. Jacobs Levy Equity Management Inc. now owns 39,174 shares of the bank’s stock valued at $3,604,000 after purchasing an additional 7,412 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System grew its position in BOK Financial by 71.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 37,532 shares of the bank’s stock valued at $3,168,000 after purchasing an additional 15,626 shares in the last quarter. 34.44% of the stock is currently owned by institutional investors and hedge funds.

About BOK Financial

(Get Free Report)

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.

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