BOK Financial Co. (NASDAQ:BOKF) Forecasted to Earn FY2024 Earnings of $7.85 Per Share

BOK Financial Co. (NASDAQ:BOKF) – Equities researchers at DA Davidson decreased their FY2024 earnings per share (EPS) estimates for BOK Financial in a research note issued to investors on Wednesday, July 24th. DA Davidson analyst P. Winter now anticipates that the bank will post earnings of $7.85 per share for the year, down from their previous forecast of $7.87. DA Davidson has a “Neutral” rating and a $111.00 price objective on the stock. The consensus estimate for BOK Financial’s current full-year earnings is $7.72 per share. DA Davidson also issued estimates for BOK Financial’s FY2025 earnings at $8.59 EPS.

BOK Financial (NASDAQ:BOKF) last posted its quarterly earnings data on Monday, July 22nd. The bank reported $2.54 EPS for the quarter, topping the consensus estimate of $1.89 by $0.65. BOK Financial had a net margin of 13.92% and a return on equity of 10.04%. The company had revenue of $871.84 million during the quarter, compared to analyst estimates of $520.43 million. During the same period in the previous year, the firm earned $2.27 earnings per share.

BOKF has been the subject of several other research reports. Wells Fargo & Company boosted their target price on BOK Financial from $80.00 to $95.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 10th. Stephens reaffirmed an “equal weight” rating and issued a $104.00 price target on shares of BOK Financial in a research note on Tuesday. Royal Bank of Canada boosted their price objective on shares of BOK Financial from $99.00 to $114.00 and gave the company a “sector perform” rating in a research report on Wednesday. Hovde Group lifted their price target on shares of BOK Financial from $106.00 to $122.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Truist Financial increased their price objective on BOK Financial from $94.00 to $112.00 and gave the stock a “hold” rating in a research note on Wednesday. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $108.00.

BOK Financial Price Performance

BOKF stock opened at $105.71 on Friday. The stock has a market cap of $6.82 billion, a PE ratio of 15.41 and a beta of 1.19. BOK Financial has a 12 month low of $62.42 and a 12 month high of $107.97. The company has a 50-day moving average price of $92.77 and a 200 day moving average price of $88.94. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Wednesday, May 15th were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend was Tuesday, May 14th. BOK Financial’s payout ratio is 32.07%.

Insider Buying and Selling at BOK Financial

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 transaction, the director now directly owns 47,985 shares of the company’s stock, valued at approximately $4,398,305.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 56.94% of the stock is owned by insiders.

Hedge Funds Weigh In On BOK Financial

Several hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC increased its stake in BOK Financial by 29.2% during the 4th quarter. SG Americas Securities LLC now owns 5,609 shares of the bank’s stock valued at $480,000 after purchasing an additional 1,266 shares in the last quarter. Cambiar Investors LLC increased its position in shares of BOK Financial by 3.5% in the 4th quarter. Cambiar Investors LLC now owns 130,781 shares of the bank’s stock valued at $11,201,000 after acquiring an additional 4,433 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in BOK Financial by 26.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,059 shares of the bank’s stock worth $519,000 after acquiring an additional 1,271 shares during the last quarter. New York State Common Retirement Fund lifted its position in BOK Financial by 0.8% during the 4th quarter. New York State Common Retirement Fund now owns 25,063 shares of the bank’s stock worth $2,147,000 after acquiring an additional 195 shares during the period. Finally, GAMMA Investing LLC purchased a new stake in BOK Financial during the 4th quarter valued at about $41,000. Institutional investors and hedge funds own 34.44% of the company’s stock.

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.