DA Davidson Forecasts BOK Financial FY2024 Earnings

BOK Financial Co. (NASDAQ:BOKF) – Research analysts at DA Davidson issued their FY2024 earnings estimates for BOK Financial in a research report issued to clients and investors on Thursday, December 19th. DA Davidson analyst P. Winter anticipates that the bank will post earnings of $8.03 per share for the year. DA Davidson currently has a “Buy” rating and a $123.00 price target on the stock. The consensus estimate for BOK Financial’s current full-year earnings is $8.08 per share.

BOK Financial (NASDAQ:BOKF) last announced its quarterly earnings data on Monday, October 21st. The bank reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.20. BOK Financial had a return on equity of 9.67% and a net margin of 13.78%. The business had revenue of $888.50 million for the quarter, compared to analysts’ expectations of $509.43 million. During the same period last year, the firm earned $2.04 earnings per share.

Several other research analysts have also recently commented on the stock. Stephens lowered their price target on shares of BOK Financial from $116.00 to $114.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. Wells Fargo & Company raised their price target on BOK Financial from $105.00 to $112.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 3rd. Truist Financial raised BOK Financial from a “hold” rating to a “buy” rating and upped their price objective for the stock from $112.00 to $123.00 in a research report on Friday, September 20th. Wedbush reissued a “neutral” rating and set a $115.00 target price on shares of BOK Financial in a research report on Tuesday, October 22nd. Finally, Keefe, Bruyette & Woods boosted their target price on BOK Financial from $112.00 to $125.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, BOK Financial currently has a consensus rating of “Hold” and a consensus target price of $114.40.

BOK Financial Stock Performance

Shares of BOK Financial stock opened at $109.69 on Monday. The business has a 50-day simple moving average of $113.67 and a 200-day simple moving average of $103.86. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.79 and a current ratio of 0.79. BOK Financial has a one year low of $77.86 and a one year high of $121.58. The company has a market cap of $7.03 billion, a PE ratio of 15.09 and a beta of 1.18.

Hedge Funds Weigh In On BOK Financial

Institutional investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC grew its stake in shares of BOK Financial by 1.7% in the 3rd quarter. Tidal Investments LLC now owns 8,919 shares of the bank’s stock valued at $933,000 after purchasing an additional 147 shares during the last quarter. XTX Topco Ltd lifted its holdings in shares of BOK Financial by 9.6% during the third quarter. XTX Topco Ltd now owns 3,940 shares of the bank’s stock worth $412,000 after purchasing an additional 346 shares during the period. Jane Street Group LLC grew its position in BOK Financial by 309.8% in the 3rd quarter. Jane Street Group LLC now owns 44,561 shares of the bank’s stock valued at $4,662,000 after buying an additional 33,686 shares during the last quarter. SageView Advisory Group LLC acquired a new position in BOK Financial in the 3rd quarter valued at $200,000. Finally, Quadrature Capital Ltd purchased a new position in BOK Financial during the 3rd quarter worth $472,000. Institutional investors and hedge funds own 34.44% of the company’s stock.

Insider Transactions at BOK Financial

In other news, Director Steven Bangert sold 2,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $117.83, for a total value of $235,660.00. Following the completion of the sale, the director now directly owns 44,709 shares of the company’s stock, valued at approximately $5,268,061.47. This represents a 4.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 56.94% of the company’s stock.

BOK Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th were issued a $0.57 dividend. This is an increase from BOK Financial’s previous quarterly dividend of $0.55. This represents a $2.28 annualized dividend and a dividend yield of 2.08%. The ex-dividend date was Friday, November 15th. BOK Financial’s dividend payout ratio is presently 31.36%.

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.