DA Davidson Comments on BOK Financial FY2024 Earnings

BOK Financial Co. (NASDAQ:BOKF) – Equities researchers at DA Davidson issued their FY2024 earnings per share (EPS) estimates for shares of BOK Financial in a research note issued on Thursday, December 19th. DA Davidson analyst P. Winter anticipates that the bank will post earnings per share of $8.03 for the year. DA Davidson currently has a “Buy” rating and a $123.00 target price on the stock. The consensus estimate for BOK Financial’s current full-year earnings is $8.08 per share.

BOK Financial (NASDAQ:BOKF) last released its earnings results on Monday, October 21st. The bank reported $2.18 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.20. The company had revenue of $888.50 million during the quarter, compared to the consensus estimate of $509.43 million. BOK Financial had a return on equity of 9.67% and a net margin of 13.78%. During the same quarter last year, the company earned $2.04 earnings per share.

Other research analysts have also recently issued reports about the stock. Wedbush reaffirmed a “neutral” rating and issued a $115.00 target price on shares of BOK Financial in a report on Tuesday, October 22nd. Truist Financial raised BOK Financial from a “hold” rating to a “buy” rating and raised their price objective for the company from $112.00 to $123.00 in a research note on Friday, September 20th. Keefe, Bruyette & Woods boosted their target price on BOK Financial from $112.00 to $125.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Royal Bank of Canada upped their target price on BOK Financial from $111.00 to $113.00 and gave the company a “sector perform” rating in a report on Wednesday, October 23rd. Finally, Stephens cut their price target on BOK Financial from $116.00 to $114.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 23rd. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $114.40.

BOK Financial Stock Performance

Shares of BOKF opened at $109.69 on Monday. The company has a market capitalization of $7.03 billion, a PE ratio of 15.09 and a beta of 1.18. BOK Financial has a 52-week low of $77.86 and a 52-week high of $121.58. The company has a 50-day simple moving average of $113.67 and a 200-day simple moving average of $103.86. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.87.

Institutional Investors Weigh In On BOK Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Edgestream Partners L.P. acquired a new stake in BOK Financial in the 2nd quarter worth about $3,429,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of BOK Financial by 11.7% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 126,228 shares of the bank’s stock worth $11,567,000 after acquiring an additional 13,175 shares during the period. Creative Planning boosted its position in shares of BOK Financial by 130.1% in the third quarter. Creative Planning now owns 11,946 shares of the bank’s stock worth $1,250,000 after acquiring an additional 6,755 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in BOK Financial in the second quarter valued at approximately $540,000. Finally, Bleakley Financial Group LLC increased its position in BOK Financial by 31.6% during the third quarter. Bleakley Financial Group LLC now owns 3,013 shares of the bank’s stock worth $315,000 after purchasing an additional 724 shares during the last quarter. Hedge funds and other institutional investors own 34.44% of the company’s stock.

Insider Buying and Selling at BOK Financial

In other BOK Financial news, Director Steven Bangert sold 2,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $117.83, for a total value of $235,660.00. Following the completion of the transaction, the director now directly owns 44,709 shares in the company, valued at approximately $5,268,061.47. The trade was a 4.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 56.94% of the stock is owned by insiders.

BOK Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Friday, November 15th were paid a $0.57 dividend. This is an increase from BOK Financial’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.28 annualized dividend and a yield of 2.08%. BOK Financial’s payout ratio is presently 31.36%.

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.