BOK Financial (NASDAQ:BOKF) Upgraded by Truist Financial to Buy

Truist Financial upgraded shares of BOK Financial (NASDAQ:BOKF) from a hold rating to a buy rating in a research report sent to investors on Friday, MarketBeat.com reports. Truist Financial currently has $123.00 target price on the bank’s stock, up from their previous target price of $112.00.

BOKF has been the subject of several other research reports. Hovde Group upped their price target on shares of BOK Financial from $106.00 to $122.00 and gave the stock an outperform rating in a research report on Wednesday, July 24th. StockNews.com raised BOK Financial from a sell rating to a hold rating in a research note on Friday, July 26th. DA Davidson increased their target price on shares of BOK Financial from $97.00 to $111.00 and gave the stock a neutral rating in a research report on Wednesday, July 24th. Stephens reaffirmed an equal weight rating and set a $104.00 price target on shares of BOK Financial in a research report on Tuesday, July 23rd. Finally, Royal Bank of Canada boosted their price objective on shares of BOK Financial from $99.00 to $114.00 and gave the stock a sector perform rating in a research note on Wednesday, July 24th. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $109.10.

BOK Financial Trading Down 1.6 %

Shares of BOK Financial stock opened at $105.83 on Friday. BOK Financial has a fifty-two week low of $62.42 and a fifty-two week high of $108.01. The business’s fifty day moving average is $101.99 and its two-hundred day moving average is $94.14. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 1.27. The firm has a market cap of $6.83 billion, a PE ratio of 15.43 and a beta of 1.18.

BOK Financial (NASDAQ:BOKF) last issued its quarterly earnings results on Monday, July 22nd. The bank reported $2.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.65. BOK Financial had a return on equity of 9.94% and a net margin of 13.92%. The firm had revenue of $871.84 million for the quarter, compared to analyst estimates of $520.43 million. During the same period last year, the company earned $2.27 EPS. Analysts anticipate that BOK Financial will post 7.78 earnings per share for the current year.

BOK Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Thursday, August 15th were given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend was Thursday, August 15th. BOK Financial’s payout ratio is 32.07%.

Institutional Trading of BOK Financial

A number of hedge funds have recently made changes to their positions in BOKF. Norges Bank acquired a new position in BOK Financial during the 4th quarter worth $27,170,000. Allspring Global Investments Holdings LLC raised its stake in BOK Financial by 4,370,260.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 218,518 shares of the bank’s stock valued at $20,025,000 after buying an additional 218,513 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in BOK Financial by 6.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,176,031 shares of the bank’s stock worth $199,405,000 after buying an additional 125,950 shares during the last quarter. George Kaiser Family Foundation grew its position in shares of BOK Financial by 1.2% in the 4th quarter. George Kaiser Family Foundation now owns 3,361,707 shares of the bank’s stock worth $287,930,000 after acquiring an additional 38,898 shares in the last quarter. Finally, Edgestream Partners L.P. bought a new stake in shares of BOK Financial in the 2nd quarter valued at approximately $3,429,000. Institutional investors and hedge funds own 34.44% of the company’s stock.

BOK Financial Company Profile

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.