BOK Financial (NASDAQ:BOKF) Announces Quarterly Earnings Results

BOK Financial (NASDAQ:BOKF) announced its quarterly earnings data on Monday. The bank reported $2.59 EPS for the quarter, missing analysts’ consensus estimates of $2.66 by ($0.07), FiscalAI reports. The company had revenue of $589.40 million for the quarter, compared to analyst estimates of $568.08 million. BOK Financial had a net margin of 18.05% and a return on equity of 9.89%. During the same period in the prior year, the company posted $2.19 EPS.

BOK Financial Stock Down 0.5%

Shares of NASDAQ BOKF opened at $140.47 on Tuesday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.81 and a quick ratio of 0.81. The company has a 50-day moving average price of $133.37 and a 200-day moving average price of $131.04. The stock has a market capitalization of $8.53 billion, a P/E ratio of 14.22 and a beta of 0.80. BOK Financial has a 1 year low of $97.40 and a 1 year high of $143.53.

BOK Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th were paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Wednesday, May 13th. BOK Financial’s dividend payout ratio (DPR) is 25.51%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BOKF. Royal Bank Of Canada raised their price objective on shares of BOK Financial from $136.00 to $145.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. DA Davidson upped their target price on shares of BOK Financial from $132.00 to $139.00 and gave the company a “neutral” rating in a research note on Wednesday, April 22nd. Wells Fargo & Company upped their target price on shares of BOK Financial from $130.00 to $138.00 and gave the stock an “equal weight” rating in a research note on Monday, July 6th. Barclays lifted their target price on BOK Financial from $135.00 to $145.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 7th. Finally, Benchmark began coverage on BOK Financial in a report on Wednesday, June 24th. They issued a “hold” rating on the stock. Two equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $136.18.

Insider Activity at BOK Financial

In related news, Director Steven Bangert sold 2,100 shares of the firm’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $134.78, for a total value of $283,038.00. Following the transaction, the director owned 32,816 shares of the company’s stock, valued at approximately $4,422,940.48. This trade represents a 6.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark B. Wade sold 1,700 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $132.62, for a total value of $225,454.00. Following the completion of the transaction, the executive vice president owned 20,361 shares in the company, valued at $2,700,275.82. This represents a 7.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 5,500 shares of company stock valued at $738,571. 63.53% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BOK Financial

A number of large investors have recently made changes to their positions in the stock. Pinnacle Holdings LLC purchased a new position in shares of BOK Financial during the 4th quarter valued at about $31,000. EverSource Wealth Advisors LLC boosted its position in shares of BOK Financial by 109.2% during the second quarter. EverSource Wealth Advisors LLC now owns 500 shares of the bank’s stock valued at $49,000 after buying an additional 261 shares during the last quarter. CIBC Private Wealth Group LLC bought a new position in BOK Financial during the 3rd quarter valued at about $55,000. Steward Partners Investment Advisory LLC bought a new stake in shares of BOK Financial in the fourth quarter worth approximately $59,000. Finally, Quadrant Capital Group LLC purchased a new stake in BOK Financial in the third quarter worth approximately $117,000. 34.44% of the stock is owned by institutional investors.

About BOK Financial

BOK Financial Corporation (NASDAQ: BOKF), headquartered in Tulsa, Oklahoma, is a diversified financial services holding company serving businesses, professionals and individuals across the central and western United States. Through its banking subsidiary, BOK Financial offers a full suite of commercial banking, treasury and payment management services, as well as consumer deposit and lending solutions. The company’s offerings also encompass wealth management, trust and asset management, investment banking, and insurance products designed to meet the needs of both retail and institutional clients.

The roots of BOK Financial date back to the founding of the Bank of Oklahoma in 1910.