Key Points
- Director Steven Bangert sold 1,250 BOK Financial shares at an average price of $143.96, generating $179,950. He retains 31,710 shares, with the transaction reducing his position by 3.79%.
- BOK Financial shares opened at $144.78, near their 12-month high of $146.21. The bank’s latest quarterly revenue rose 5.4% year over year to $602.54 million, though earnings per share of $2.59 fell short of analyst estimates.
- The company declared a quarterly dividend of $0.63, equivalent to an annualized $2.52 payout and a 1.7% yield. Analysts maintain a consensus “Hold” rating with an average price target of $140.36.
BOK Financial Corporation (NASDAQ:BOKF - Get Free Report) Director Steven Bangert sold 1,250 shares of the company's stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $143.96, for a total transaction of $179,950.00. Following the completion of the transaction, the director owned 31,710 shares in the company, valued at approximately $4,564,971.60. This represents a 3.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
BOK Financial Stock Up 0.5%
BOKF stock opened at $144.78 on Thursday. The company has a 50 day moving average of $138.22 and a two-hundred day moving average of $133.16. The company has a market cap of $8.80 billion, a price-to-earnings ratio of 13.65 and a beta of 0.80. BOK Financial Corporation has a 12-month low of $102.72 and a 12-month high of $146.21. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.57.
BOK Financial (NASDAQ:BOKF - Get Free Report) last posted its quarterly earnings results on Monday, July 20th. The bank reported $2.59 earnings per share for the quarter, missing analysts' consensus estimates of $2.68 by ($0.09). BOK Financial had a return on equity of 10.09% and a net margin of 18.97%.The company had revenue of $602.54 million during the quarter, compared to analyst estimates of $568.08 million. During the same period last year, the company posted $2.19 earnings per share. The company's revenue was up 5.4% compared to the same quarter last year. On average, equities analysts anticipate that BOK Financial Corporation will post 10.32 earnings per share for the current fiscal year.
BOK Financial Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th will be paid a $0.63 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $2.52 dividend on an annualized basis and a yield of 1.7%. BOK Financial's payout ratio is 23.75%.
Analyst Ratings Changes
Several brokerages have recently issued reports on BOKF. DA Davidson reiterated a "neutral" rating and set a $150.00 price target on shares of BOK Financial in a report on Tuesday, July 21st. Raymond James Financial downgraded BOK Financial from an "outperform" rating to a "market perform" rating in a report on Wednesday, July 1st. Citigroup reaffirmed a "neutral" rating on shares of BOK Financial in a research report on Thursday, July 23rd. Benchmark started coverage on shares of BOK Financial in a research note on Wednesday, June 24th. They issued a "hold" rating for the company. Finally, Barclays boosted their target price on shares of BOK Financial from $150.00 to $155.00 and gave the stock an "equal weight" rating in a research report on Monday, August 3rd. Two research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat.com, BOK Financial presently has an average rating of "Hold" and a consensus price target of $140.36.
Get Our Latest Stock Report on BOKF
Institutional Investors Weigh In On BOK Financial
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC grew its holdings in BOK Financial by 173.1% during the fourth quarter. Farther Finance Advisors LLC now owns 213 shares of the bank's stock valued at $25,000 after purchasing an additional 135 shares during the last quarter. Pinnacle Holdings LLC acquired a new stake in shares of BOK Financial in the fourth quarter worth $31,000. Fifth Third Bancorp lifted its stake in shares of BOK Financial by 2,291.7% in the first quarter. Fifth Third Bancorp now owns 287 shares of the bank's stock worth $37,000 after buying an additional 275 shares during the last quarter. Covestor Ltd boosted its holdings in shares of BOK Financial by 108.0% during the 4th quarter. Covestor Ltd now owns 366 shares of the bank's stock worth $43,000 after buying an additional 190 shares during the period. Finally, Root Financial Partners LLC grew its stake in BOK Financial by 56.2% in the 1st quarter. Root Financial Partners LLC now owns 367 shares of the bank's stock valued at $47,000 after buying an additional 132 shares during the last quarter. 34.44% of the stock is currently owned by institutional investors and hedge funds.
BOK Financial Company Profile
(
Get Free Report)
BOK Financial Corporation (NASDAQ: BOKF), headquartered in Tulsa, Oklahoma, is a diversified financial services holding company serving businesses, professionals and individuals across the central and western United States. Through its banking subsidiary, BOK Financial offers a full suite of commercial banking, treasury and payment management services, as well as consumer deposit and lending solutions. The company's offerings also encompass wealth management, trust and asset management, investment banking, and insurance products designed to meet the needs of both retail and institutional clients.
The roots of BOK Financial date back to the founding of the Bank of Oklahoma in 1910.
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