BOK Financial (NASDAQ:BOKF) Issues Earnings Results

BOK Financial (NASDAQ:BOKF) issued its quarterly earnings results on Monday. The bank reported $2.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.66 by ($0.07), FiscalAI reports. BOK Financial had a return on equity of 9.89% and a net margin of 18.05%.

BOK Financial Stock Down 0.5%

NASDAQ BOKF traded down $0.77 on Monday, reaching $140.47. The company had a trading volume of 601,142 shares, compared to its average volume of 320,173. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.81 and a quick ratio of 0.81. BOK Financial has a 1 year low of $97.40 and a 1 year high of $143.53. The firm has a 50-day moving average of $133.16 and a 200-day moving average of $130.89. The firm has a market capitalization of $8.53 billion, a PE ratio of 14.22 and a beta of 0.80.

BOK Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th were given a $0.63 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $2.52 annualized dividend and a dividend yield of 1.8%. BOK Financial’s dividend payout ratio is presently 25.51%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BOKF. Zacks Research lowered shares of BOK Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Wells Fargo & Company boosted their target price on shares of BOK Financial from $130.00 to $138.00 and gave the company an “equal weight” rating in a report on Monday, July 6th. Raymond James Financial lowered shares of BOK Financial from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 1st. Royal Bank Of Canada increased their price target on shares of BOK Financial from $136.00 to $145.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 22nd. Finally, Barclays lifted their price target on shares of BOK Financial from $135.00 to $145.00 and gave the company an “equal weight” rating in a report on Tuesday, April 7th. Two investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $136.18.

Insider Activity

In related news, EVP Jeffrey A. Reid sold 1,200 shares of the firm’s stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $135.52, for a total transaction of $162,624.00. Following the completion of the sale, the executive vice president directly owned 8,116 shares of the company’s stock, valued at approximately $1,099,880.32. This trade represents a 12.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark B. Wade sold 1,700 shares of the firm’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $132.62, for a total transaction of $225,454.00. Following the sale, the executive vice president directly owned 20,361 shares of the company’s stock, valued at approximately $2,700,275.82. The trade was a 7.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 5,500 shares of company stock worth $738,571. 63.53% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BOKF. Corient Private Wealth LLC purchased a new position in BOK Financial in the fourth quarter valued at about $301,000. Invesco Ltd. increased its holdings in BOK Financial by 26.9% during the 4th quarter. Invesco Ltd. now owns 74,277 shares of the bank’s stock worth $8,799,000 after purchasing an additional 15,761 shares during the last quarter. VARCOV Co. acquired a new position in shares of BOK Financial in the 4th quarter valued at approximately $227,000. Occudo Quantitative Strategies LP acquired a new position in shares of BOK Financial in the 4th quarter valued at approximately $1,336,000. Finally, Man Group plc purchased a new position in shares of BOK Financial during the 4th quarter valued at approximately $1,220,000. Institutional investors and hedge funds own 34.44% of the company’s stock.

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.