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

BOK Financial (NASDAQ:BOKF) had its price target upped by Royal Bank of Canada from $115.00 to $120.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a sector perform rating on the bank’s stock.

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

BOK Financial Stock Down 0.6 %

Shares of NASDAQ:BOKF opened at $109.91 on Wednesday. BOK Financial has a 12-month low of $78.99 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 $7.05 billion, a PE ratio of 13.52 and a beta of 1.20. The company has a fifty day simple moving average of $112.82 and a 200 day simple moving average of $107.24.

BOK Financial (NASDAQ:BOKF) last issued its earnings results on Friday, January 17th. The bank reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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.

BOK Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th were given a dividend of $0.57 per share. The ex-dividend date was Friday, November 15th. This is an increase from BOK Financial’s previous quarterly dividend of $0.55. This represents a $2.28 annualized dividend and a dividend yield of 2.07%. BOK Financial’s payout ratio is currently 28.04%.

Insider Activity at BOK Financial

In other news, Director Steven Bangert sold 2,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $117.83, for a total transaction of $235,660.00. Following the transaction, the director now directly 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 56.94% of the stock is owned by insiders.

Institutional Investors Weigh In On BOK Financial

Institutional investors have recently bought and sold shares of the stock. Tidal Investments LLC raised its position in shares of BOK Financial by 1.7% during the 3rd quarter. Tidal Investments LLC now owns 8,919 shares of the bank’s stock worth $933,000 after buying an additional 147 shares in the last quarter. KBC Group NV increased its stake in shares of 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 acquiring an additional 183 shares during the period. American Century Companies Inc. lifted its position in BOK Financial by 1.4% in the second quarter. American Century Companies Inc. now owns 16,056 shares of the bank’s stock worth $1,471,000 after purchasing an additional 225 shares during the period. XTX Topco Ltd boosted its stake in BOK Financial by 9.6% during the 3rd quarter. XTX Topco Ltd now owns 3,940 shares of the bank’s stock valued at $412,000 after purchasing an additional 346 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of BOK Financial during the 2nd quarter valued at $39,000. 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.