Wedbush Analysts Increase Earnings Estimates for BOK Financial Co. (NASDAQ:BOKF)

BOK Financial Co. (NASDAQ:BOKF) – Equities research analysts at Wedbush raised their Q1 2024 earnings per share (EPS) estimates for BOK Financial in a report issued on Wednesday, March 27th. Wedbush analyst D. Chiaverini now forecasts that the bank will earn $1.72 per share for the quarter, up from their previous forecast of $1.63. The consensus estimate for BOK Financial’s current full-year earnings is $7.57 per share. Wedbush also issued estimates for BOK Financial’s FY2024 earnings at $7.35 EPS and FY2025 earnings at $8.15 EPS.

BOK Financial (NASDAQ:BOKF) last announced its quarterly earnings results on Wednesday, January 24th. The bank reported $1.26 EPS for the quarter, missing the consensus estimate of $1.75 by ($0.49). The firm had revenue of $843.21 million for the quarter, compared to analyst estimates of $485.87 million. BOK Financial had a return on equity of 11.46% and a net margin of 16.94%. During the same quarter in the prior year, the company earned $2.51 earnings per share.

Several other equities research analysts have also commented on BOKF. Keefe, Bruyette & Woods restated a “market perform” rating and set a $94.00 price target on shares of BOK Financial in a research note on Wednesday. Royal Bank of Canada increased their target price on BOK Financial from $89.00 to $93.00 and gave the company a “sector perform” rating in a research note on Thursday, January 25th. Stephens increased their target price on BOK Financial from $96.00 to $98.00 and gave the company an “equal weight” rating in a research note on Thursday, January 25th. StockNews.com lowered BOK Financial from a “hold” rating to a “sell” rating in a research note on Thursday, March 21st. Finally, Citigroup increased their target price on BOK Financial from $90.00 to $92.00 and gave the company a “neutral” rating in a research note on Wednesday, March 13th. One investment analyst has rated the stock with a sell rating and eight have issued a hold rating to the company. Based on data from MarketBeat, BOK Financial presently has an average rating of “Hold” and an average price target of $90.00.

BOK Financial Stock Performance

Shares of NASDAQ:BOKF opened at $92.00 on Friday. The firm has a market capitalization of $5.95 billion, a PE ratio of 11.50 and a beta of 1.20. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.85 and a quick ratio of 0.85. The business has a 50-day moving average of $85.16 and a two-hundred day moving average of $80.16. BOK Financial has a 12 month low of $62.42 and a 12 month high of $92.41.

Institutional Trading of BOK Financial

Hedge funds have recently added to or reduced their stakes in the business. Invesco Ltd. increased its position in shares of BOK Financial by 50.0% during the 3rd quarter. Invesco Ltd. now owns 85,067 shares of the bank’s stock valued at $6,804,000 after purchasing an additional 28,367 shares during the period. O Shaughnessy Asset Management LLC boosted its position in shares of BOK Financial by 233.7% in the third quarter. O Shaughnessy Asset Management LLC now owns 47,983 shares of the bank’s stock worth $3,838,000 after buying an additional 33,602 shares during the period. Schonfeld Strategic Advisors LLC boosted its position in shares of BOK Financial by 4.7% in the third quarter. Schonfeld Strategic Advisors LLC now owns 325,236 shares of the bank’s stock worth $26,012,000 after buying an additional 14,639 shares during the period. VisionPoint Advisory Group LLC boosted its position in shares of BOK Financial by 102.1% in the third quarter. VisionPoint Advisory Group LLC now owns 380 shares of the bank’s stock worth $30,000 after buying an additional 192 shares during the period. Finally, George Kaiser Family Foundation boosted its position in shares of BOK Financial by 3.6% in the second quarter. George Kaiser Family Foundation now owns 3,322,809 shares of the bank’s stock worth $268,417,000 after buying an additional 115,040 shares during the period. Institutional investors own 34.44% of the company’s stock.

Insiders Place Their Bets

In related news, Director Steven Bangert sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $81.59, for a total value of $244,770.00. Following the sale, the director now owns 50,985 shares of the company’s stock, valued at approximately $4,159,866.15. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 56.94% of the stock is currently owned by company insiders.

BOK Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend was Tuesday, February 13th. BOK Financial’s dividend payout ratio is presently 27.50%.

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.