BOK Financial (NASDAQ:BOKF) Reaches New 1-Year High After Earnings Beat

Shares of BOK Financial Co. (NASDAQ:BOKF) reached a new 52-week high during mid-day trading on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $93.51 and last traded at $92.09, with a volume of 64555 shares traded. The stock had previously closed at $91.11.

The bank reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.19. BOK Financial had a return on equity of 10.62% and a net margin of 13.93%. The company had revenue of $806.91 million for the quarter, compared to the consensus estimate of $473.70 million. During the same quarter in the previous year, the business earned $2.43 EPS.

BOK Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $2.20 annualized dividend and a yield of 2.43%. BOK Financial’s payout ratio is 32.07%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Stephens boosted their price target on BOK Financial from $96.00 to $98.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 25th. Wells Fargo & Company boosted their price target on BOK Financial from $80.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 10th. Royal Bank of Canada boosted their price target on BOK Financial from $94.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Thursday. Citigroup boosted their price target on BOK Financial from $90.00 to $92.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 13th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of BOK Financial from $97.00 to $100.00 and gave the stock a “market perform” rating in a report on Thursday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $97.30.

Insider Buying and Selling at BOK Financial

In other news, Director Steven Bangert sold 3,000 shares of the business’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $81.59, for a total transaction of $244,770.00. Following the completion of the sale, the director now owns 50,985 shares of the company’s stock, valued at $4,159,866.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 56.94% of the stock is owned by corporate insiders.

Institutional Trading of BOK Financial

Institutional investors and hedge funds have recently modified their holdings of the stock. Everpar Advisors LLC purchased a new stake in shares of BOK Financial in the 1st quarter valued at approximately $205,000. BOKF NA lifted its holdings in BOK Financial by 0.9% during the 4th quarter. BOKF NA now owns 711,535 shares of the bank’s stock worth $60,943,000 after buying an additional 6,632 shares in the last quarter. Rafferty Asset Management LLC lifted its holdings in BOK Financial by 85.9% during the 4th quarter. Rafferty Asset Management LLC now owns 52,983 shares of the bank’s stock worth $4,538,000 after buying an additional 24,482 shares in the last quarter. TFO Wealth Partners LLC lifted its holdings in BOK Financial by 41,350.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,658 shares of the bank’s stock worth $142,000 after buying an additional 1,654 shares in the last quarter. Finally, Treasurer of the State of North Carolina lifted its holdings in BOK Financial by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 12,564 shares of the bank’s stock worth $1,076,000 after buying an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 34.44% of the company’s stock.

BOK Financial Stock Performance

The company has a market capitalization of $5.86 billion, a price-to-earnings ratio of 13.11 and a beta of 1.21. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.52. The stock’s fifty day simple moving average is $87.41 and its 200-day simple moving average is $81.42.

About BOK Financial

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.