Truist Financial Cuts BOK Financial (NASDAQ:BOKF) Price Target to $94.00

BOK Financial (NASDAQ:BOKF) had its price objective decreased by Truist Financial from $97.00 to $94.00 in a research report released on Monday, Benzinga reports. Truist Financial currently has a hold rating on the bank’s stock.

BOKF has been the subject of a number of other reports. Raymond James reaffirmed an outperform rating and set a $105.00 price objective (up from $103.00) on shares of BOK Financial in a report on Thursday, April 25th. Royal Bank of Canada raised their price target on BOK Financial from $94.00 to $98.00 and gave the stock a sector perform rating in a report on Thursday, April 25th. Citigroup lifted their price target on BOK Financial from $90.00 to $92.00 and gave the company a neutral rating in a research report on Wednesday, March 13th. Keefe, Bruyette & Woods boosted their price objective on BOK Financial from $97.00 to $100.00 and gave the company a market perform rating in a research report on Thursday, April 25th. Finally, StockNews.com lowered BOK Financial from a hold rating to a sell rating in a research note on Friday, June 28th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $96.90.

BOK Financial Price Performance

BOKF stock opened at $90.84 on Monday. BOK Financial has a 12 month low of $62.42 and a 12 month high of $96.40. The firm has a market capitalization of $5.86 billion, a P/E ratio of 13.24 and a beta of 1.19. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.34. The firm has a 50 day moving average of $90.89 and a 200-day moving average of $87.68.

BOK Financial (NASDAQ:BOKF) last announced its earnings results on Tuesday, April 30th. The bank reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.19. The firm had revenue of $806.91 million for the quarter, compared to analysts’ expectations of $473.70 million. BOK Financial had a net margin of 13.93% and a return on equity of 10.52%. During the same quarter in the previous year, the business posted $2.43 EPS. As a group, sell-side analysts predict that BOK Financial will post 7.7 earnings per share for the current fiscal year.

BOK Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Wednesday, May 15th were paid a $0.55 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $2.20 dividend on an annualized basis and a yield of 2.42%. BOK Financial’s payout ratio is currently 32.07%.

Insider Transactions at BOK Financial

In other BOK Financial news, Director Steven Bangert sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $91.66, for a total value of $274,980.00. Following the completion of the sale, the director now directly owns 47,985 shares in the company, valued at $4,398,305.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 59.72% of the company’s stock.

Hedge Funds Weigh In On BOK Financial

Hedge funds have recently modified their holdings of the stock. VisionPoint Advisory Group LLC raised its position in shares of BOK Financial by 102.1% during the third quarter. VisionPoint Advisory Group LLC now owns 380 shares of the bank’s stock valued at $30,000 after buying an additional 192 shares during the last quarter. GAMMA Investing LLC bought a new position in BOK Financial in the 4th quarter worth approximately $41,000. Covestor Ltd raised its position in BOK Financial by 361.8% in the 1st quarter. Covestor Ltd now owns 471 shares of the bank’s stock worth $43,000 after purchasing an additional 369 shares during the last quarter. Olistico Wealth LLC acquired a new stake in BOK Financial during the 2nd quarter worth $46,000. Finally, Bessemer Group Inc. acquired a new stake in BOK Financial during the 1st quarter worth $86,000. 34.44% of the stock is owned by institutional investors and hedge funds.

BOK Financial Company Profile

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.