BOK Financial Corp. (NASDAQ:BOKF) had its target price increased by equities research analysts at Keefe, Bruyette & Woods from $58.00 to $69.00 in a note issued to investors on Thursday. The firm currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 3.62% from the stock’s current price.
A number of other equities research analysts have also weighed in on the company. Citigroup Inc. lowered BOK Financial Corp. to a “market perform” rating in a research report on Thursday, July 28th. RBC Capital Markets reaffirmed a “sector perform” rating and set a $68.00 target price (up from $61.00) on shares of BOK Financial Corp. in a research report on Thursday, July 28th. Zacks Investment Research lowered BOK Financial Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, June 28th. Raymond James Financial Inc. raised BOK Financial Corp. from a “market perform” rating to an “outperform” rating in a research report on Monday, May 9th. Finally, Royal Bank Of Canada boosted their price target on BOK Financial Corp. from $61.00 to $68.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 28th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $65.75.
BOK Financial Corp. (NASDAQ:BOKF) traded down 0.98% during midday trading on Thursday, hitting $66.59. The company had a trading volume of 380,337 shares. The stock has a 50 day moving average price of $67.35 and a 200-day moving average price of $61.26. BOK Financial Corp. has a 52 week low of $44.13 and a 52 week high of $75.18. The stock has a market capitalization of $4.39 billion, a PE ratio of 18.37 and a beta of 0.86.
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BOK Financial Corp. (NASDAQ:BOKF) last issued its earnings results on Wednesday, July 27th. The company reported $1.00 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.01. BOK Financial Corp. had a return on equity of 7.23% and a net margin of 16.55%. During the same quarter last year, the firm posted $1.15 earnings per share. On average, equities analysts predict that BOK Financial Corp. will post $3.87 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, August 26th. Investors of record on Friday, August 12th were given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend was Wednesday, August 10th. BOK Financial Corp.’s dividend payout ratio is currently 47.51%.
In other BOK Financial Corp. news, EVP Scott Grauer sold 1,000 shares of the business’s stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $67.16, for a total transaction of $67,160.00. Following the sale, the executive vice president now owns 26,639 shares in the company, valued at approximately $1,789,075.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director C Fred Ball, Jr. sold 937 shares of the business’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $67.20, for a total value of $62,966.40. Following the sale, the director now owns 6,305 shares in the company, valued at approximately $423,696. The disclosure for this sale can be found here. Corporate insiders own 61.30% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. Norges Bank purchased a new stake in BOK Financial Corp. during the fourth quarter valued at $12,600,000. Prudential Financial Inc. increased its stake in BOK Financial Corp. by 21.8% in the first quarter. Prudential Financial Inc. now owns 36,823 shares of the company’s stock valued at $2,011,000 after buying an additional 6,600 shares during the last quarter. Schroder Investment Management Group increased its stake in BOK Financial Corp. by 19.4% in the fourth quarter. Schroder Investment Management Group now owns 95,900 shares of the company’s stock valued at $5,734,000 after buying an additional 15,600 shares during the last quarter. Jennison Associates increased its stake in BOK Financial Corp. by 23.7% in the third quarter. Jennison Associates now owns 554,762 shares of the company’s stock valued at $35,899,000 after buying an additional 106,195 shares during the last quarter. Finally, Edge Asset Management Inc. increased its stake in BOK Financial Corp. by 126.5% in the fourth quarter. Edge Asset Management Inc. now owns 101,493 shares of the company’s stock valued at $6,068,000 after buying an additional 56,689 shares during the last quarter. Institutional investors and hedge funds own 36.67% of the company’s stock.
About BOK Financial Corp.
BOK Financial Corporation is a financial holding company. The Company offers full service banking in Oklahoma, Texas, New Mexico, Colorado, Arizona and Kansas/Missouri. Its segments include Commercial Banking, Consumer Banking, Wealth Management, and Funds Management and Other. The Commercial Banking segment includes lending, treasury and cash management services, and customer risk management products for small businesses, middle market and commercial customers.
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