BOK Financial (NASDAQ:BOKF) Upgraded to Buy by DA Davidson

DA Davidson upgraded shares of BOK Financial (NASDAQ:BOKF) from a neutral rating to a buy rating in a report released on Tuesday, Marketbeat reports. DA Davidson currently has $124.00 price target on the bank’s stock, up from their previous price target of $113.00.

BOKF has been the subject of a number of other reports. Hovde Group upped their price objective on shares of BOK Financial from $106.00 to $122.00 and gave the stock an outperform rating in a research note on Wednesday, July 24th. StockNews.com upgraded shares of BOK Financial from a sell rating to a hold rating in a research note on Friday, July 26th. Stephens reissued an equal weight rating and set a $104.00 price objective on shares of BOK Financial in a report on Tuesday, July 23rd. Wells Fargo & Company upped their target price on BOK Financial from $100.00 to $102.00 and gave the stock an equal weight rating in a report on Tuesday, October 1st. Finally, Keefe, Bruyette & Woods lifted their price target on BOK Financial from $100.00 to $110.00 and gave the company a market perform rating in a report on Thursday, July 25th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $111.10.

BOK Financial Stock Performance

Shares of NASDAQ:BOKF opened at $110.98 on Tuesday. The firm’s 50 day simple moving average is $102.77 and its 200-day simple moving average is $96.21. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.81 and a current ratio of 0.82. BOK Financial has a one year low of $62.42 and a one year high of $113.06. The firm has a market cap of $7.16 billion, a PE ratio of 16.18 and a beta of 1.17.

BOK Financial (NASDAQ:BOKF) last released its quarterly earnings data on Monday, July 22nd. The bank reported $2.54 EPS for the quarter, topping the consensus estimate of $1.89 by $0.65. BOK Financial had a return on equity of 9.94% and a net margin of 13.92%. The company had revenue of $871.84 million for the quarter, compared to the consensus estimate of $520.43 million. During the same period last year, the business posted $2.27 EPS. As a group, equities analysts predict that BOK Financial will post 7.85 EPS for the current year.

BOK Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Thursday, August 15th were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend was Thursday, August 15th. BOK Financial’s dividend payout ratio is currently 32.07%.

Institutional Investors Weigh In On BOK Financial

Several institutional investors have recently added to or reduced their stakes in the business. American Century Companies Inc. lifted its stake in shares of BOK Financial by 1.4% during the second quarter. American Century Companies Inc. now owns 16,056 shares of the bank’s stock worth $1,471,000 after buying an additional 225 shares during the period. Covestor Ltd lifted its position in BOK Financial by 361.8% during the 1st quarter. Covestor Ltd now owns 471 shares of the bank’s stock worth $43,000 after acquiring an additional 369 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in BOK Financial during the 2nd quarter valued at about $39,000. Vanguard Personalized Indexing Management LLC increased its holdings in shares of BOK Financial by 18.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 2,816 shares of the bank’s stock valued at $258,000 after purchasing an additional 431 shares during the period. Finally, Olistico Wealth LLC purchased a new position in shares of BOK Financial in the second quarter worth about $46,000. 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.