BOK Financial (NASDAQ:BOKF) Sets New 52-Week High – Still a Buy?

BOK Financial Co. (NASDAQ:BOKF) reached a new 52-week high during trading on Thursday . The company traded as high as $113.87 and last traded at $113.62, with a volume of 3318 shares trading hands. The stock had previously closed at $112.89.

Wall Street Analyst Weigh In

A number of research firms recently commented on BOKF. Wedbush raised their price objective on shares of BOK Financial from $94.00 to $115.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. Hovde Group raised their price objective on shares of BOK Financial from $106.00 to $122.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Stephens reiterated an “equal weight” rating and set a $104.00 price objective on shares of BOK Financial in a research note on Tuesday, July 23rd. Keefe, Bruyette & Woods raised their price objective on shares of BOK Financial from $100.00 to $110.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. Finally, DA Davidson upgraded shares of BOK Financial from a “neutral” rating to a “buy” rating and raised their price objective for the company from $113.00 to $124.00 in a research note on Tuesday. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $111.10.

BOK Financial Stock Performance

The firm’s 50-day simple moving average is $103.10 and its two-hundred day simple moving average is $96.32. The stock has a market capitalization of $7.29 billion, a PE ratio of 16.46 and a beta of 1.17. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 1.27.

BOK Financial (NASDAQ:BOKF) last released its quarterly earnings data on Monday, July 22nd. The bank reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.65. BOK Financial had a net margin of 13.92% and a return on equity of 9.94%. The business had revenue of $871.84 million during the quarter, compared to analyst estimates of $520.43 million. During the same quarter in the previous year, the business earned $2.27 EPS. On average, equities research analysts expect that BOK Financial Co. will post 7.85 earnings per share for the current fiscal year.

BOK Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Thursday, August 15th were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date was Thursday, August 15th. BOK Financial’s dividend payout ratio is 32.07%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in BOK Financial during the 2nd quarter worth $39,000. Covestor Ltd increased its holdings in shares of BOK Financial by 361.8% during the 1st quarter. Covestor Ltd now owns 471 shares of the bank’s stock worth $43,000 after purchasing an additional 369 shares during the period. Olistico Wealth LLC bought a new position in shares of BOK Financial during the 2nd quarter worth about $46,000. Bessemer Group Inc. bought a new position in shares of BOK Financial during the 1st quarter worth about $86,000. Finally, Point72 DIFC Ltd bought a new position in shares of BOK Financial during the 2nd quarter worth about $143,000. Institutional investors and hedge funds own 34.44% of the company’s stock.

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.