Brokers Issue Forecasts for BOK Financial Co.’s Q2 2024 Earnings (NASDAQ:BOKF)

BOK Financial Co. (NASDAQ:BOKF) – Wedbush issued their Q2 2024 earnings per share (EPS) estimates for shares of BOK Financial in a report released on Monday, June 24th. Wedbush analyst D. Chiaverini anticipates that the bank will post earnings per share of $1.92 for the quarter. The consensus estimate for BOK Financial’s current full-year earnings is $7.73 per share. Wedbush also issued estimates for BOK Financial’s FY2024 earnings at $7.81 EPS.

BOK Financial (NASDAQ:BOKF) last issued its quarterly earnings results on Tuesday, April 30th. The bank reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.19. The firm 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 quarter last year, the company posted $2.43 EPS.

A number of other brokerages have also recently weighed in on BOKF. Raymond James reissued an “outperform” rating and set a $105.00 price objective (up from $103.00) on shares of BOK Financial in a report on Thursday, April 25th. Wells Fargo & Company raised their price objective on BOK Financial from $80.00 to $95.00 and gave the company an “equal weight” rating in a report on Wednesday, April 10th. Citigroup raised their price objective on BOK Financial from $90.00 to $92.00 and gave the company a “neutral” rating in a report on Wednesday, March 13th. Keefe, Bruyette & Woods raised 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. Finally, DA Davidson raised their price objective on BOK Financial from $90.00 to $97.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $97.10.

BOK Financial Stock Performance

Shares of BOKF opened at $89.48 on Wednesday. The company has a market cap of $5.77 billion, a PE ratio of 13.04 and a beta of 1.17. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.34. The stock has a 50-day moving average price of $90.88 and a 200-day moving average price of $87.24. BOK Financial has a 12-month low of $62.42 and a 12-month high of $96.40.

BOK Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Wednesday, May 15th were paid a dividend of $0.55 per share. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $2.20 annualized dividend and a dividend yield of 2.46%. BOK Financial’s dividend payout ratio (DPR) is presently 32.07%.

Insider Activity

In other news, Director Steven Bangert sold 3,000 shares of the business’s stock in a transaction that occurred on 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 $4,398,305.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 56.94% of the company’s stock.

Hedge Funds Weigh In On BOK Financial

Several hedge funds have recently made changes to their positions in BOKF. Norges Bank bought a new stake in shares of BOK Financial during the fourth quarter valued at approximately $27,170,000. Rafferty Asset Management LLC boosted its position in shares of BOK Financial by 85.9% during the fourth quarter. Rafferty Asset Management LLC now owns 52,983 shares of the bank’s stock valued at $4,538,000 after purchasing an additional 24,482 shares in the last quarter. Invesco Ltd. boosted its position in shares of BOK Financial by 50.0% during the third quarter. Invesco Ltd. now owns 85,067 shares of the bank’s stock valued at $6,804,000 after purchasing an additional 28,367 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its position in shares of BOK Financial by 233.7% during the third quarter. O Shaughnessy Asset Management LLC now owns 47,983 shares of the bank’s stock valued at $3,838,000 after purchasing an additional 33,602 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC boosted its position in shares of BOK Financial by 4.7% during the third quarter. Schonfeld Strategic Advisors LLC now owns 325,236 shares of the bank’s stock valued at $26,012,000 after purchasing an additional 14,639 shares in the last quarter. 34.44% of the stock is owned by hedge funds and other institutional investors.

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.