BOK Financial Co. (NASDAQ:BOKF) to Post Q2 2024 Earnings of $1.93 Per Share, DA Davidson Forecasts

BOK Financial Co. (NASDAQ:BOKF) – Analysts at DA Davidson upped their Q2 2024 earnings per share estimates for shares of BOK Financial in a research note issued to investors on Thursday, June 27th. DA Davidson analyst P. Winter now anticipates that the bank will post earnings of $1.93 per share for the quarter, up from their previous estimate of $1.88. DA Davidson currently has a “Neutral” rating and a $97.00 target price on the stock. The consensus estimate for BOK Financial’s current full-year earnings is $7.74 per share. DA Davidson also issued estimates for BOK Financial’s FY2024 earnings at $7.87 EPS.

BOK Financial (NASDAQ:BOKF) last issued its earnings results on Tuesday, April 30th. The bank reported $1.91 EPS for the quarter, topping the consensus estimate of $1.72 by $0.19. The company had revenue of $806.91 million during the quarter, compared to the consensus estimate of $473.70 million. BOK Financial had a return on equity of 10.52% and a net margin of 13.93%. During the same period in the previous year, the company posted $2.43 EPS.

Several other analysts have also recently weighed in on the company. Wells Fargo & Company lifted their price target on BOK Financial from $80.00 to $95.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 10th. Keefe, Bruyette & Woods lifted their price objective on BOK Financial from $97.00 to $100.00 and gave the company a “market perform” rating in a report on Thursday, April 25th. Truist Financial dropped their price objective on BOK Financial from $99.00 to $97.00 and set a “hold” rating for the company in a report on Friday, April 26th. Royal Bank of Canada lifted their price objective on BOK Financial from $94.00 to $98.00 and gave the company a “sector perform” rating in a report on Thursday, April 25th. Finally, Hovde Group raised BOK Financial from a “market perform” rating to an “outperform” rating in a report on Monday, June 10th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $97.10.

BOK Financial Stock Performance

NASDAQ:BOKF opened at $92.09 on Monday. The stock has a market cap of $5.94 billion, a P/E ratio of 13.42 and a beta of 1.19. The stock has a 50 day simple moving average of $91.00 and a 200 day simple moving average of $87.50. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.34. BOK Financial has a 1-year low of $62.42 and a 1-year high of $96.40.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in BOKF. Walleye Trading LLC bought a new position in shares of BOK Financial in the first quarter valued at approximately $290,000. Jacobs Levy Equity Management Inc. increased its position in shares of BOK Financial by 23.3% during the first quarter. Jacobs Levy Equity Management Inc. now owns 39,174 shares of the bank’s stock valued at $3,604,000 after acquiring an additional 7,412 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of BOK Financial by 5.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,375 shares of the bank’s stock valued at $1,323,000 after acquiring an additional 797 shares during the last quarter. Bessemer Group Inc. purchased a new stake in shares of BOK Financial during the first quarter valued at approximately $86,000. Finally, Covestor Ltd increased its position in shares of BOK Financial by 361.8% during the first quarter. Covestor Ltd now owns 471 shares of the bank’s stock valued at $43,000 after acquiring an additional 369 shares during the last quarter. Institutional investors own 34.44% of the company’s stock.

Insider Activity

In related news, Director Steven Bangert sold 3,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $91.66, for a total transaction of $274,980.00. Following the sale, the director now owns 47,985 shares in the company, valued at approximately $4,398,305.10. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 59.72% of the company’s stock.

BOK Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Wednesday, May 15th were issued a $0.55 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $2.20 dividend on an annualized basis and a yield of 2.39%. BOK Financial’s payout ratio is presently 32.07%.

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.