BOK Financial (NASDAQ:BOKF) had its target price boosted by Morgan Stanley from $88.00 to $90.00 in a research report released on Thursday morning, BenzingaRatingsTable reports. Morgan Stanley currently has an equal weight rating on the bank’s stock.
BOKF has been the subject of several other reports. Piper Jaffray Companies set a $92.00 target price on BOK Financial and gave the company a buy rating in a research note on Friday, October 25th. BidaskClub upgraded BOK Financial from a sell rating to a hold rating in a research note on Friday, October 18th. SunTrust Banks set a $82.00 target price on BOK Financial and gave the company a hold rating in a research note on Friday, October 25th. ValuEngine upgraded BOK Financial from a sell rating to a hold rating in a research note on Tuesday, December 3rd. Finally, TheStreet downgraded BOK Financial from a b rating to a c rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. BOK Financial presently has a consensus rating of Hold and a consensus price target of $89.14.
Shares of BOKF traded down $0.98 during trading hours on Thursday, hitting $86.15. The stock had a trading volume of 92,160 shares, compared to its average volume of 128,918. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.86 and a quick ratio of 0.85. The firm has a 50 day simple moving average of $82.08 and a 200-day simple moving average of $78.61. The firm has a market capitalization of $6.17 billion, a P/E ratio of 12.02, a price-to-earnings-growth ratio of 1.95 and a beta of 1.30. BOK Financial has a 1-year low of $69.96 and a 1-year high of $93.72.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 12th were paid a $0.51 dividend. The ex-dividend date was Friday, November 8th. This is an increase from BOK Financial’s previous quarterly dividend of $0.40. This represents a $2.04 annualized dividend and a dividend yield of 2.37%. BOK Financial’s dividend payout ratio (DPR) is currently 30.09%.
In other BOK Financial news, Director Steven Bangert sold 8,000 shares of BOK Financial stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $81.92, for a total transaction of $655,360.00. Following the completion of the transaction, the director now owns 131,102 shares in the company, valued at approximately $10,739,875.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 54.90% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in BOKF. Marshall Wace North America L.P. acquired a new position in BOK Financial during the 1st quarter valued at about $50,000. Strs Ohio boosted its stake in BOK Financial by 40.2% during the 2nd quarter. Strs Ohio now owns 5,114 shares of the bank’s stock valued at $386,000 after purchasing an additional 1,466 shares during the last quarter. First Trust Advisors LP boosted its stake in BOK Financial by 5.6% during the 2nd quarter. First Trust Advisors LP now owns 110,862 shares of the bank’s stock valued at $8,368,000 after purchasing an additional 5,846 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in BOK Financial by 118.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 1,574 shares of the bank’s stock valued at $119,000 after purchasing an additional 855 shares during the last quarter. Finally, Advisor Group Inc. boosted its stake in BOK Financial by 20.3% during the 2nd quarter. Advisor Group Inc. now owns 2,278 shares of the bank’s stock valued at $172,000 after purchasing an additional 384 shares during the last quarter. Institutional investors and hedge funds own 40.01% 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.
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