Wedbush Analysts Increase Earnings Estimates for BOK Financial Co. (NASDAQ:BOKF)

BOK Financial Co. (NASDAQ:BOKF) – Wedbush upped their Q1 2024 earnings estimates for BOK Financial in a research report issued to clients and investors on Wednesday, March 27th. Wedbush analyst D. Chiaverini now expects that the bank will post earnings of $1.72 per share for the quarter, up from their prior estimate of $1.63. The consensus estimate for BOK Financial’s current full-year earnings is $7.57 per share. Wedbush also issued estimates for BOK Financial’s FY2024 earnings at $7.35 EPS and FY2025 earnings at $8.15 EPS.

BOKF has been the subject of several other reports. Citigroup boosted their price objective on shares of BOK Financial from $90.00 to $92.00 and gave the company a “neutral” rating in a research report on Wednesday, March 13th. Stephens boosted their price objective on shares of BOK Financial from $96.00 to $98.00 and gave the company an “equal weight” rating in a research report on Thursday, January 25th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $94.00 price objective on shares of BOK Financial in a research report on Wednesday. StockNews.com downgraded shares of BOK Financial from a “hold” rating to a “sell” rating in a report on Thursday, March 21st. Finally, Royal Bank of Canada upped their price target on shares of BOK Financial from $89.00 to $93.00 and gave the stock a “sector perform” rating in a report on Thursday, January 25th. One investment analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $90.00.

BOK Financial Stock Up 1.0 %

Shares of BOKF opened at $92.00 on Friday. BOK Financial has a one year low of $62.42 and a one year high of $92.41. The company has a market cap of $5.95 billion, a P/E ratio of 11.50 and a beta of 1.20. 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 firm has a 50 day simple moving average of $85.16 and a two-hundred day simple moving average of $80.16.

BOK Financial (NASDAQ:BOKF) last announced its quarterly earnings data on Wednesday, January 24th. The bank reported $1.26 EPS for the quarter, missing the consensus estimate of $1.75 by ($0.49). BOK Financial had a net margin of 16.94% and a return on equity of 11.46%. The firm had revenue of $843.21 million for the quarter, compared to analyst estimates of $485.87 million. During the same quarter in the prior year, the firm earned $2.51 earnings per share.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its holdings in BOK Financial by 1.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,578 shares of the bank’s stock valued at $1,163,000 after purchasing an additional 183 shares during the period. Public Employees Retirement System of Ohio raised its position in shares of BOK Financial by 3.0% during the 4th quarter. Public Employees Retirement System of Ohio now owns 12,298 shares of the bank’s stock valued at $1,053,000 after buying an additional 363 shares in the last quarter. Barclays PLC raised its position in shares of BOK Financial by 8.3% during the 4th quarter. Barclays PLC now owns 48,519 shares of the bank’s stock valued at $4,157,000 after buying an additional 3,704 shares in the last quarter. Voloridge Investment Management LLC raised its position in shares of BOK Financial by 14.8% during the 4th quarter. Voloridge Investment Management LLC now owns 53,809 shares of the bank’s stock valued at $4,609,000 after buying an additional 6,927 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its position in shares of BOK Financial by 14.7% during the 4th quarter. Nuveen Asset Management LLC now owns 95,260 shares of the bank’s stock valued at $8,159,000 after buying an additional 12,218 shares in the last quarter. 34.44% of the stock is owned by institutional investors.

Insider Buying and Selling at BOK Financial

In other news, Director Steven Bangert sold 3,000 shares of the stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $81.59, for a total transaction of $244,770.00. Following the completion of the transaction, the director now directly owns 50,985 shares of the company’s stock, valued at approximately $4,159,866.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 56.94% of the company’s stock.

BOK Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th were paid a $0.55 dividend. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $2.20 annualized dividend and a yield of 2.39%. BOK Financial’s dividend payout ratio (DPR) is 27.50%.

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.