Truist Financial Lowers BOK Financial (NASDAQ:BOKF) Price Target to $94.00

BOK Financial (NASDAQ:BOKF) had its price objective trimmed by Truist Financial from $97.00 to $94.00 in a report released on Monday, Benzinga reports. The firm currently has a hold rating on the bank’s stock.

BOKF has been the subject of a number of other research reports. Royal Bank of Canada increased their target price on BOK Financial from $94.00 to $98.00 and gave the stock a sector perform rating in a report on Thursday, April 25th. Citigroup increased their target price on BOK Financial from $90.00 to $92.00 and gave the stock a neutral rating in a report on Wednesday, March 13th. Keefe, Bruyette & Woods increased their target price on BOK Financial from $97.00 to $100.00 and gave the stock a market perform rating in a report on Thursday, April 25th. DA Davidson increased their target price on BOK Financial from $90.00 to $97.00 and gave the stock a neutral rating in a report on Thursday, April 25th. Finally, Wells Fargo & Company raised their price objective on BOK Financial from $80.00 to $95.00 and gave the company an equal weight rating in a report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $96.90.

BOK Financial Price Performance

BOKF opened at $94.61 on Monday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.34. BOK Financial has a 12 month low of $62.42 and a 12 month high of $96.40. The company has a fifty day simple moving average of $90.95 and a 200 day simple moving average of $87.73. The stock has a market cap of $6.10 billion, a P/E ratio of 13.79 and a beta of 1.19.

BOK Financial (NASDAQ:BOKF) last released its earnings results on Tuesday, April 30th. The bank reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.19. The firm had revenue of $806.91 million during the quarter, compared to analysts’ expectations of $473.70 million. BOK Financial had a return on equity of 10.52% and a net margin of 13.93%. During the same quarter in the prior year, the company earned $2.43 EPS. On average, research analysts expect that BOK Financial will post 7.7 EPS for the current year.

BOK Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Wednesday, May 15th were paid a $0.55 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $2.20 annualized dividend and a yield of 2.33%. BOK Financial’s dividend payout ratio (DPR) is currently 32.07%.

Insider Activity at BOK Financial

In related news, Director Steven Bangert sold 3,000 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $91.66, for a total value of $274,980.00. Following the completion of the sale, the director now directly owns 47,985 shares in the company, valued at approximately $4,398,305.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 59.72% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BOK Financial

Hedge funds have recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of BOK Financial in the fourth quarter valued at approximately $27,170,000. Dimensional Fund Advisors LP raised its position in shares of BOK Financial by 13.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,906,002 shares of the bank’s stock valued at $163,252,000 after buying an additional 221,785 shares in the last quarter. Wellington Management Group LLP acquired a new stake in shares of BOK Financial in the third quarter valued at approximately $5,375,000. George Kaiser Family Foundation raised its position in shares of BOK Financial by 1.2% in the fourth quarter. George Kaiser Family Foundation now owns 3,361,707 shares of the bank’s stock valued at $287,930,000 after buying an additional 38,898 shares in the last quarter. Finally, National Bank of Canada FI acquired a new stake in shares of BOK Financial in the fourth quarter valued at approximately $2,399,000. 34.44% of the stock is currently owned by institutional investors and hedge funds.

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.