BOK Financial (NASDAQ:BOKF) Posts Quarterly Earnings Results, Beats Expectations By $0.12 EPS

BOK Financial (NASDAQ:BOKF) released its quarterly earnings results on Monday. The bank reported $2.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.12, Zacks reports. The company had revenue of $542.08 million during the quarter, compared to the consensus estimate of $539.48 million. BOK Financial had a return on equity of 9.35% and a net margin of 15.98%.During the same quarter in the prior year, the company posted $2.18 EPS.

BOK Financial Price Performance

Shares of BOKF stock opened at $106.52 on Wednesday. The stock has a 50 day moving average of $110.51 and a two-hundred day moving average of $101.54. The company has a current ratio of 0.78, a quick ratio of 0.77 and a debt-to-equity ratio of 0.70. BOK Financial has a 12 month low of $85.07 and a 12 month high of $121.58. The company has a market capitalization of $6.78 billion, a P/E ratio of 12.70 and a beta of 0.88.

BOK Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 27th. Investors of record on Wednesday, August 13th were paid a dividend of $0.57 per share. The ex-dividend date was Wednesday, August 13th. This represents a $2.28 annualized dividend and a yield of 2.1%. BOK Financial’s dividend payout ratio is presently 27.31%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Wall Street Zen downgraded BOK Financial from a “hold” rating to a “sell” rating in a research note on Sunday. Weiss Ratings reiterated a “buy (b-)” rating on shares of BOK Financial in a research note on Wednesday, October 8th. DA Davidson upped their price target on BOK Financial from $114.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, July 23rd. Jefferies Financial Group set a $135.00 price target on BOK Financial and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Finally, Hovde Group increased their target price on BOK Financial from $110.00 to $123.00 and gave the company an “outperform” rating in a research note on Tuesday, July 22nd. Four equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $115.70.

Institutional Trading of BOK Financial

Hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its position in shares of BOK Financial by 109.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 500 shares of the bank’s stock worth $49,000 after acquiring an additional 261 shares during the period. Osaic Holdings Inc. raised its holdings in shares of BOK Financial by 17.4% in the 2nd quarter. Osaic Holdings Inc. now owns 1,311 shares of the bank’s stock worth $129,000 after buying an additional 194 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of BOK Financial in the 1st quarter worth approximately $159,000. Tower Research Capital LLC TRC raised its holdings in shares of BOK Financial by 172.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,554 shares of the bank’s stock worth $152,000 after buying an additional 983 shares in the last quarter. Finally, M&T Bank Corp acquired a new position in shares of BOK Financial in the 2nd quarter worth approximately $220,000. Institutional investors own 34.44% of the company’s stock.

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.