DA Davidson Equities Analysts Cut Earnings Estimates for BOK Financial Co. (NASDAQ:BOKF)

BOK Financial Co. (NASDAQ:BOKF) – DA Davidson cut their FY2024 earnings per share (EPS) estimates for shares of BOK Financial in a research note issued to investors on Wednesday, July 24th. DA Davidson analyst P. Winter now forecasts that the bank will post earnings per share of $7.85 for the year, down from their previous estimate of $7.87. DA Davidson currently has a “Neutral” rating and a $111.00 target price on the stock. The consensus estimate for BOK Financial’s current full-year earnings is $7.72 per share. DA Davidson also issued estimates for BOK Financial’s FY2025 earnings at $8.59 EPS.

BOK Financial (NASDAQ:BOKF) last announced its quarterly earnings results on Monday, July 22nd. The bank reported $2.54 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.65. BOK Financial had a net margin of 13.92% and a return on equity of 10.04%. The firm had revenue of $871.84 million during the quarter, compared to analysts’ expectations of $520.43 million. During the same quarter last year, the company earned $2.27 earnings per share.

Other analysts have also recently issued reports about the stock. Wedbush upped their price objective on shares of BOK Financial from $94.00 to $115.00 and gave the stock a “neutral” rating in a research note on Tuesday. Raymond James reaffirmed an “outperform” rating and set a $105.00 price target (up from $103.00) on shares of BOK Financial in a report on Thursday, April 25th. Keefe, Bruyette & Woods boosted their price objective on BOK Financial from $100.00 to $110.00 and gave the stock a “market perform” rating in a research note on Thursday. Royal Bank of Canada raised their target price on BOK Financial from $99.00 to $114.00 and gave the company a “sector perform” rating in a research note on Wednesday. Finally, StockNews.com upgraded shares of BOK Financial from a “sell” rating to a “hold” rating in a research report on Friday. Nine analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $108.00.

BOK Financial Stock Performance

BOK Financial stock opened at $105.71 on Friday. The firm has a market capitalization of $6.82 billion, a P/E ratio of 15.41 and a beta of 1.19. The stock has a fifty day moving average price of $92.77 and a two-hundred day moving average price of $88.94. BOK Financial has a 52-week low of $62.42 and a 52-week high of $107.97. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.82 and a quick ratio of 0.82.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Covestor Ltd grew its holdings in shares of BOK Financial by 361.8% during the first quarter. Covestor Ltd now owns 471 shares of the bank’s stock worth $43,000 after buying an additional 369 shares in the last quarter. GAMMA Investing LLC bought a new position in shares of BOK Financial in the fourth quarter valued at $41,000. Olistico Wealth LLC acquired a new position in BOK Financial during the second quarter worth $46,000. Bessemer Group Inc. acquired a new position in shares of BOK Financial during the 1st quarter worth about $86,000. Finally, Quest Partners LLC acquired a new stake in BOK Financial in the 4th quarter valued at about $134,000. Institutional investors and hedge funds own 34.44% of the company’s stock.

Insider Transactions at BOK Financial

In related news, Director Steven Bangert sold 3,000 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were 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 owns 47,985 shares in the company, valued at approximately $4,398,305.10. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 56.94% of the company’s stock.

BOK Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Wednesday, May 15th were paid a dividend of $0.55 per share. The ex-dividend date was Tuesday, May 14th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.08%. BOK Financial’s dividend payout ratio (DPR) is presently 32.07%.

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.