Truist Financial Trims BOK Financial (NASDAQ:BOKF) Target Price to $97.00

BOK Financial (NASDAQ:BOKF) had its target price trimmed by Truist Financial from $99.00 to $97.00 in a research note released on Friday morning, Benzinga reports. The firm currently has a hold rating on the bank’s stock.

A number of other research firms have also recently commented on BOKF. Keefe, Bruyette & Woods increased their target price on BOK Financial from $97.00 to $100.00 and gave the company a market perform rating in a research note on Thursday. Citigroup increased their price objective on BOK Financial from $90.00 to $92.00 and gave the company a neutral rating in a research report on Wednesday, March 13th. Royal Bank of Canada boosted their target price on BOK Financial from $94.00 to $98.00 and gave the stock a sector perform rating in a research report on Thursday. Raymond James reiterated an outperform rating and set a $105.00 price target (up from $103.00) on shares of BOK Financial in a research report on Thursday. Finally, StockNews.com lowered shares of BOK Financial from a hold rating to a sell rating in a report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $97.10.

BOK Financial Stock Performance

NASDAQ BOKF opened at $90.83 on Friday. The company’s 50 day simple moving average is $87.55 and its two-hundred day simple moving average is $81.51. The stock has a market capitalization of $5.87 billion, a PE ratio of 13.24 and a beta of 1.21. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.85 and a quick ratio of 0.85. BOK Financial has a 1 year low of $62.42 and a 1 year high of $93.51.

BOK Financial (NASDAQ:BOKF) last released its quarterly earnings results on Wednesday, April 24th. The bank reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.19. BOK Financial had a return on equity of 10.62% and a net margin of 13.93%. The firm had revenue of $806.91 million for the quarter, compared to analysts’ expectations of $473.70 million. During the same quarter last year, the firm posted $2.43 EPS. Analysts predict that BOK Financial will post 7.43 earnings per share for the current fiscal year.

BOK Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th were paid a $0.55 dividend. The ex-dividend date was Tuesday, February 13th. This represents a $2.20 annualized dividend and a yield of 2.42%. BOK Financial’s payout ratio is 32.07%.

Insider Activity

In other BOK Financial news, Director Steven Bangert sold 3,000 shares of BOK Financial stock in a transaction on Monday, February 5th. The shares were sold at an average price of $81.59, for a total value of $244,770.00. Following the sale, the director now directly owns 50,985 shares in the company, valued at approximately $4,159,866.15. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 56.94% of the company’s stock.

Hedge Funds Weigh In On BOK Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BOKF. Norges Bank purchased a new position in shares of BOK Financial in the fourth quarter valued at $27,170,000. Dimensional Fund Advisors LP lifted its holdings in shares of BOK Financial by 13.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,906,002 shares of the bank’s stock valued at $163,252,000 after acquiring an additional 221,785 shares during the last quarter. Wellington Management Group LLP purchased a new position in BOK Financial in the third quarter worth about $5,375,000. George Kaiser Family Foundation raised its position in BOK Financial by 1.2% during the fourth quarter. George Kaiser Family Foundation now owns 3,361,707 shares of the bank’s stock valued at $287,930,000 after purchasing an additional 38,898 shares during the period. Finally, O Shaughnessy Asset Management LLC boosted its holdings in shares of BOK Financial by 233.7% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 47,983 shares of the bank’s stock worth $3,838,000 after purchasing an additional 33,602 shares during the period. 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.