Royal Bank of Canada Forecasts Strong Price Appreciation for BOK Financial (NASDAQ:BOKF) Stock

BOK Financial (NASDAQ:BOKF) had its price target hoisted by research analysts at Royal Bank of Canada from $115.00 to $120.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “sector perform” rating on the bank’s stock. Royal Bank of Canada’s price target indicates a potential upside of 8.50% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Wedbush reissued a “neutral” rating and set a $115.00 price target on shares of BOK Financial in a research report on Tuesday, October 22nd. Keefe, Bruyette & Woods raised their price target on shares of BOK Financial from $112.00 to $125.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Wells Fargo & Company boosted their price objective on shares of BOK Financial from $105.00 to $112.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 3rd. Stephens cut their target price on shares of BOK Financial from $135.00 to $127.00 and set an “equal weight” rating on the stock in a report on Wednesday. Finally, DA Davidson lowered their target price on BOK Financial from $124.00 to $123.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $116.40.

BOK Financial Stock Down 2.0 %

Shares of NASDAQ:BOKF opened at $110.60 on Wednesday. BOK Financial has a 12-month low of $77.86 and a 12-month high of $121.58. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.87. The firm has a market cap of $7.09 billion, a PE ratio of 13.60 and a beta of 1.20. The company has a fifty day simple moving average of $112.92 and a 200 day simple moving average of $107.09.

BOK Financial (NASDAQ:BOKF) last issued its quarterly earnings results on Friday, January 17th. The bank reported $2.12 EPS for the quarter, topping the consensus estimate of $1.97 by $0.15. BOK Financial had a net margin of 15.32% and a return on equity of 9.96%. On average, equities research analysts anticipate that BOK Financial will post 8.52 EPS for the current fiscal year.

Insider Activity at BOK Financial

In other BOK Financial news, Director Steven Bangert sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $117.83, for a total transaction of $235,660.00. Following the transaction, the director now owns 44,709 shares of the company’s stock, valued at approximately $5,268,061.47. This trade represents a 4.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 56.94% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Tidal Investments LLC lifted its position in BOK Financial by 1.7% in the third quarter. Tidal Investments LLC now owns 8,919 shares of the bank’s stock worth $933,000 after purchasing an additional 147 shares during the period. KBC Group NV boosted its stake in BOK Financial by 25.3% during the third quarter. KBC Group NV now owns 905 shares of the bank’s stock valued at $95,000 after buying an additional 183 shares in the last quarter. American Century Companies Inc. grew its holdings in 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 acquiring an additional 225 shares during the period. XTX Topco Ltd raised its position in BOK Financial by 9.6% in the third quarter. XTX Topco Ltd now owns 3,940 shares of the bank’s stock worth $412,000 after acquiring an additional 346 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in BOK Financial in the 2nd quarter valued at about $39,000. 34.44% of the stock is currently owned by institutional investors.

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.