DA Davidson Boosts BOK Financial (NASDAQ:BOKF) Price Target to $97.00

BOK Financial (NASDAQ:BOKF) had its target price boosted by DA Davidson from $90.00 to $97.00 in a research report released on Thursday, Benzinga reports. They currently have a neutral rating on the bank’s stock. DA Davidson also issued estimates for BOK Financial’s Q2 2024 earnings at $1.88 EPS and FY2025 earnings at $8.58 EPS.

A number of other analysts have also commented on the stock. StockNews.com lowered shares of BOK Financial from a hold rating to a sell rating in a report on Thursday, March 21st. Hovde Group lifted their target price on shares of BOK Financial from $96.00 to $97.00 and gave the stock a market perform rating in a report on Thursday. Royal Bank of Canada lifted their target price on shares of BOK Financial from $94.00 to $98.00 and gave the stock a sector perform rating in a report on Thursday. Keefe, Bruyette & Woods lifted their target price on shares of BOK Financial from $97.00 to $100.00 and gave the stock a market perform rating in a report on Thursday. Finally, Raymond James reaffirmed an outperform rating and set a $105.00 target price (up previously from $103.00) on shares of BOK Financial in a report on Thursday. One analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, BOK Financial has a consensus rating of Hold and a consensus price target of $97.10.

BOK Financial Stock Performance

BOKF stock opened at $90.83 on Thursday. 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 company has a 50 day moving average price of $87.55 and a 200 day moving average price of $81.53. BOK Financial has a fifty-two week low of $62.42 and a fifty-two week high of $93.51. The stock has a market capitalization of $5.87 billion, a PE ratio of 13.24 and a beta of 1.21.

BOK Financial (NASDAQ:BOKF) last posted its quarterly earnings data on Wednesday, April 24th. The bank reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.19. BOK Financial had a net margin of 13.93% and a return on equity of 10.62%. The firm had revenue of $806.91 million during the quarter, compared to analysts’ expectations of $473.70 million. During the same quarter in the previous year, the company posted $2.43 EPS. Analysts forecast that BOK Financial will post 7.43 EPS for the current year.

BOK Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend was Tuesday, February 13th. BOK Financial’s dividend payout ratio (DPR) is 32.07%.

Insider Activity

In other news, Director Steven Bangert sold 3,000 shares of the business’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $81.59, for a total value of $244,770.00. Following the completion of the transaction, 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 Securities & Exchange Commission, which is available through this link. 56.94% of the stock is owned by company insiders.

Hedge Funds Weigh In On BOK Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BOKF. SG Americas Securities LLC acquired a new position in BOK Financial in the 3rd quarter worth $347,000. GHP Investment Advisors Inc. acquired a new position in BOK Financial in the 3rd quarter worth $65,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in BOK Financial by 18.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,788 shares of the bank’s stock worth $383,000 after purchasing an additional 759 shares during the period. Cambiar Investors LLC lifted its position in BOK Financial by 1.7% during the 3rd quarter. Cambiar Investors LLC now owns 126,348 shares of the bank’s stock worth $10,105,000 after buying an additional 2,166 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its position in BOK Financial by 24.6% during the 3rd quarter. Teacher Retirement System of Texas now owns 28,576 shares of the bank’s stock worth $2,286,000 after buying an additional 5,640 shares in the last quarter. 34.44% of the stock is owned by institutional investors and hedge funds.

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.