BOK Financial (NASDAQ:BOKF) Research Coverage Started at Hovde Group

Hovde Group began coverage on shares of BOK Financial (NASDAQ:BOKF) in a report released on Friday morning, Marketbeat reports. The brokerage issued a market perform rating and a $143.00 target price on the bank’s stock.

Other equities analysts have also issued reports about the stock. Wells Fargo & Company raised their target price on shares of BOK Financial from $138.00 to $148.00 and gave the company an “equal weight” rating in a report on Monday, August 10th. DA Davidson reaffirmed a “neutral” rating and set a $150.00 price target on shares of BOK Financial in a report on Thursday, September 3rd. Keefe, Bruyette & Woods increased their price target on shares of BOK Financial from $143.00 to $146.00 and gave the stock a “market perform” rating in a research report on Friday, July 24th. Benchmark began coverage on shares of BOK Financial in a research note on Wednesday, June 24th. They issued a “hold” rating on the stock. Finally, Citigroup reissued a “neutral” rating on shares of BOK Financial in a research note on Thursday, July 23rd. Two investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $141.64.

BOK Financial Stock Performance

BOKF opened at $135.69 on Friday. The firm has a market cap of $8.25 billion, a P/E ratio of 12.79 and a beta of 0.79. BOK Financial has a 52-week low of $102.72 and a 52-week high of $146.84. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.78 and a current ratio of 0.78. The business’s fifty day moving average is $140.25 and its 200-day moving average is $134.08.

BOK Financial (NASDAQ:BOKF) last posted its quarterly earnings results on Monday, July 20th. The bank reported $2.59 EPS for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.09). BOK Financial had a net margin of 18.97% and a return on equity of 10.09%. The company had revenue of $589.40 million during the quarter, compared to analyst estimates of $568.08 million. During the same period last year, the firm earned $2.19 EPS. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. Sell-side analysts expect that BOK Financial will post 10.32 EPS for the current fiscal year.

BOK Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th were paid a dividend of $0.63 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $2.52 annualized dividend and a yield of 1.9%. BOK Financial’s payout ratio is presently 23.75%.

Insider Transactions at BOK Financial

In related news, EVP Brad A. Vincent sold 4,015 shares of BOK Financial stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $145.42, for a total transaction of $583,861.30. Following the sale, the executive vice president directly owned 6,031 shares of the company’s stock, valued at approximately $877,028.02. The trade was a 39.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Steven Bangert sold 1,250 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $143.96, for a total transaction of $179,950.00. Following the transaction, the director owned 31,710 shares of the company’s stock, valued at approximately $4,564,971.60. This represents a 3.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 5,274 shares of company stock valued at $765,067 in the last three months. Company insiders own 63.53% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System boosted its holdings in shares of BOK Financial by 10,240.3% during the 2nd quarter. California State Teachers Retirement System now owns 3,199,795 shares of the bank’s stock valued at $444,388,000 after acquiring an additional 3,168,850 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in BOK Financial by 1.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,708,525 shares of the bank’s stock worth $346,843,000 after purchasing an additional 34,833 shares in the last quarter. Cibc World Markets Corp bought a new position in BOK Financial in the fourth quarter valued at about $130,994,000. Cibc World Market Inc. raised its position in BOK Financial by 39.0% in the fourth quarter. Cibc World Market Inc. now owns 908,800 shares of the bank’s stock valued at $107,656,000 after purchasing an additional 254,800 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of BOK Financial by 5.3% during the fourth quarter. State Street Corp now owns 872,649 shares of the bank’s stock valued at $103,374,000 after purchasing an additional 44,068 shares in the last quarter. 34.44% of the stock is currently owned by institutional investors and hedge funds.

About BOK Financial

BOK Financial Corporation (NASDAQ:BOKF) is a financial services holding company headquartered in Tulsa, Oklahoma. Through its principal banking subsidiary, BOKF, NA, the company provides banking, investment and wealth management services to businesses, institutions and individual customers.

The company operates regional banking brands including Bank of Oklahoma, Bank of Texas and Bank of Albuquerque. Its services include commercial and consumer banking, commercial real estate lending, treasury and cash management, mortgage lending and servicing, investment banking, securities brokerage, trust services and investment management.

BOK Financial primarily serves customers in Oklahoma, Texas, New Mexico, Colorado, Kansas, Missouri and Arkansas through banking offices and specialized financial services operations.