BOK Financial Corp. (BOKF) Given New $80.00 Price Target at Wedbush
BOK Financial Corp. (NASDAQ:BOKF) had its target price lifted by equities researchers at Wedbush from $79.00 to $80.00 in a research note issued on Wednesday. The firm presently has a “neutral” rating on the stock. Wedbush’s price target points to a potential upside of 1.24% from the stock’s previous close.
Other analysts have also issued research reports about the company. TheStreet raised BOK Financial Corp. from a “hold” rating to a “buy” rating in a report on Monday, August 22nd. Keefe, Bruyette & Woods reissued a “market perform” rating on shares of BOK Financial Corp. in a report on Wednesday, October 12th. SunTrust Banks Inc. lowered BOK Financial Corp. from a “buy” rating to a “neutral” rating and cut their price target for the company from $80.00 to $62.00 in a report on Thursday, August 25th. Macquarie raised BOK Financial Corp. from an “underperform” rating to a “neutral” rating in a report on Thursday, October 27th. Finally, RBC Capital Markets restated a “sector perform” rating and issued a $74.00 price objective (up from $68.00) on shares of BOK Financial Corp. in a research report on Thursday, October 27th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $68.75.
BOK Financial Corp. (NASDAQ:BOKF) opened at 79.02 on Wednesday. BOK Financial Corp. has a 12 month low of $44.13 and a 12 month high of $82.78. The stock’s 50 day moving average price is $73.87 and its 200 day moving average price is $67.11. The company has a market capitalization of $5.21 billion, a price-to-earnings ratio of 21.66 and a beta of 0.82.
BOK Financial Corp. (NASDAQ:BOKF) last released its quarterly earnings results on Wednesday, October 26th. The company reported $1.13 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.03. BOK Financial Corp. had a return on equity of 7.20% and a net margin of 16.03%. During the same quarter last year, the firm earned $1.15 earnings per share. Equities research analysts anticipate that BOK Financial Corp. will post $3.82 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, November 28th. Investors of record on Monday, November 14th were given a $0.44 dividend. This is an increase from BOK Financial Corp.’s previous quarterly dividend of $0.43. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend was Wednesday, November 9th. BOK Financial Corp.’s payout ratio is currently 48.09%.
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In other BOK Financial Corp. news, CFO Steven E. Nell sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, November 10th. The stock was sold at an average price of $77.11, for a total transaction of $616,880.00. Following the sale, the chief financial officer now directly owns 64,286 shares of the company’s stock, valued at $4,957,093.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director C Fred Ball, Jr. sold 1,712 shares of the business’s stock in a transaction that occurred on Friday, November 4th. The stock was sold at an average price of $70.69, for a total value of $121,021.28. Following the sale, the director now directly owns 3,467 shares in the company, valued at $245,082.23. The disclosure for this sale can be found here. 61.30% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the company. Sei Investments Co. boosted its position in BOK Financial Corp. by 86.0% in the third quarter. Sei Investments Co. now owns 1,479 shares of the company’s stock worth $102,000 after buying an additional 684 shares in the last quarter. Pacer Advisors Inc. acquired a new position in BOK Financial Corp. during the second quarter worth approximately $131,000. The Manufacturers Life Insurance Company purchased a new position in shares of BOK Financial Corp. during the third quarter valued at about $132,000. Legal & General Group Plc boosted its position in shares of BOK Financial Corp. by 16.9% in the second quarter. Legal & General Group Plc now owns 2,773 shares of the company’s stock valued at $174,000 after buying an additional 400 shares during the period. Finally, Amalgamated Bank purchased a new position in shares of BOK Financial Corp. during the second quarter valued at about $206,000. 36.05% of the stock is currently owned by institutional investors.
BOK Financial Corp. Company Profile
BOK Financial Corporation is a financial holding company. The Company offers full service banking in Oklahoma, Texas, New Mexico, Colorado, Arizona and Kansas/Missouri. Its segments include Commercial Banking, Consumer Banking, Wealth Management, and Funds Management and Other. The Commercial Banking segment includes lending, treasury and cash management services, and customer risk management products for small businesses, middle market and commercial customers.
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