Hovde Group Raises BOK Financial (NASDAQ:BOKF) Price Target to $97.00

BOK Financial (NASDAQ:BOKF) had its price objective hoisted by Hovde Group from $96.00 to $97.00 in a report released on Thursday morning, MarketBeat Ratings reports. The brokerage currently has a market perform rating on the bank’s stock.

Other analysts have also issued reports about the stock. Royal Bank of Canada upped their price objective on shares of BOK Financial from $93.00 to $94.00 and gave the company a sector perform rating in a research note on Tuesday, April 9th. Citigroup upped their price objective on shares of BOK Financial from $90.00 to $92.00 and gave the company a neutral rating in a research note on Wednesday, March 13th. Wells Fargo & Company upped their price objective on shares of BOK Financial from $80.00 to $95.00 and gave the company an equal weight rating in a research note on Wednesday, April 10th. Stephens upped their target price on BOK Financial from $96.00 to $98.00 and gave the company an equal weight rating in a report on Thursday, January 25th. Finally, Raymond James upgraded BOK Financial from a market perform rating to an outperform rating and set a $103.00 target price on the stock in a report on Thursday, April 4th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $97.10.

BOK Financial Stock Performance

BOKF stock opened at $90.83 on Thursday. BOK Financial has a fifty-two week low of $62.42 and a fifty-two week high of $93.51. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.52. The company has a market capitalization of $5.87 billion, a P/E ratio of 13.24 and a beta of 1.21. The company has a 50-day simple moving average of $87.55 and a 200 day simple moving average of $81.53.

BOK Financial (NASDAQ:BOKF) last issued its quarterly earnings results on Wednesday, April 24th. The bank reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.19. BOK Financial had a net margin of 13.93% and a return on equity of 10.62%. The company had revenue of $806.91 million during the quarter, compared to the consensus estimate of $473.70 million. During the same period in the prior year, the company earned $2.43 EPS. Sell-side analysts predict that BOK Financial will post 7.43 earnings per share for the current fiscal year.

BOK Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th were issued a $0.55 dividend. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $2.20 dividend on an annualized basis and a yield of 2.42%. BOK Financial’s dividend payout ratio is currently 32.07%.

Insider Buying and Selling

In other BOK Financial news, Director Steven Bangert sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The stock was 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 56.94% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On BOK Financial

Hedge funds have recently modified their holdings of the business. Covestor Ltd boosted its position in shares of BOK Financial by 214.0% in the third quarter. Covestor Ltd now owns 314 shares of the bank’s stock valued at $25,000 after acquiring an additional 214 shares during the period. VisionPoint Advisory Group LLC boosted its position in shares of BOK Financial by 102.1% in the third quarter. VisionPoint Advisory Group LLC now owns 380 shares of the bank’s stock valued at $30,000 after acquiring an additional 192 shares during the period. GAMMA Investing LLC bought a new position in BOK Financial in the fourth quarter worth $41,000. GHP Investment Advisors Inc. bought a new position in BOK Financial in the third quarter worth $65,000. Finally, Mitsubishi UFJ Trust & Banking Corp bought a new position in BOK Financial in the third quarter worth $78,000. 34.44% of the stock is owned by institutional investors.

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.