BOK Financial (NASDAQ:BOKF) Rating Increased to Buy at Truist Financial

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 reports. They currently have $123.00 price target on the bank’s stock, up from their previous price target of $112.00.

Other equities analysts have also issued reports about the company. Stephens reaffirmed an equal weight rating and set a $104.00 target price on shares of BOK Financial in a research report on Tuesday, July 23rd. Hovde Group raised their price objective on shares of BOK Financial from $106.00 to $122.00 and gave the company an outperform rating in a research note on Wednesday, July 24th. Royal Bank of Canada boosted their target price on shares of BOK Financial from $99.00 to $114.00 and gave the stock a sector perform rating in a research report on Wednesday, July 24th. Keefe, Bruyette & Woods raised their price target on shares of BOK Financial from $100.00 to $110.00 and gave the company a market perform rating in a research report on Thursday, July 25th. Finally, Wedbush lifted their price target on BOK Financial from $94.00 to $115.00 and gave the company a neutral rating in a research note on Tuesday, July 23rd. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $109.10.

BOK Financial Trading Up 0.7 %

NASDAQ:BOKF opened at $106.62 on Friday. BOK Financial has a 12 month low of $62.42 and a 12 month high of $108.01. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 1.27. The stock has a market capitalization of $6.88 billion, a price-to-earnings ratio of 15.54 and a beta of 1.18. The firm has a fifty day simple moving average of $102.15 and a two-hundred day simple moving average of $94.35.

BOK Financial (NASDAQ:BOKF) last issued its earnings results on Monday, July 22nd. The bank reported $2.54 EPS for the quarter, beating the consensus estimate of $1.89 by $0.65. The company had revenue of $871.84 million during the quarter, compared to the consensus estimate of $520.43 million. BOK Financial had a return on equity of 9.94% and a net margin of 13.92%. During the same period last year, the business posted $2.27 EPS. Analysts expect that BOK Financial will post 7.78 EPS for the current fiscal year.

BOK Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Thursday, August 15th were given a dividend of $0.55 per share. The ex-dividend date was Thursday, August 15th. This represents a $2.20 annualized dividend and a dividend yield of 2.06%. BOK Financial’s dividend payout ratio is currently 32.07%.

Hedge Funds Weigh In On BOK Financial

Several institutional investors have recently modified their holdings of BOKF. Victory Capital Management Inc. boosted its position in BOK Financial by 18.5% in the fourth quarter. Victory Capital Management Inc. now owns 3,629 shares of the bank’s stock worth $311,000 after purchasing an additional 566 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of BOK Financial by 5.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 263,488 shares of the bank’s stock worth $22,568,000 after buying an additional 12,892 shares during the last quarter. BNP Paribas Financial Markets grew its position in BOK Financial by 16.7% during the fourth quarter. BNP Paribas Financial Markets now owns 16,442 shares of the bank’s stock valued at $1,408,000 after buying an additional 2,354 shares during the period. Norges Bank purchased a new stake in BOK Financial during the fourth quarter worth about $27,170,000. Finally, Quest Partners LLC bought a new stake in BOK Financial in the fourth quarter worth about $134,000. 34.44% of the stock is 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.