BOK Financial (NASDAQ:BOKF) Posts Earnings Results, Beats Expectations By $0.12 EPS

BOK Financial (NASDAQ:BOKF) released its quarterly earnings results on Monday. The bank reported $2.64 earnings per share for the quarter, topping the consensus estimate of $2.52 by $0.12, FiscalAI reports. The company had revenue of $561.45 million for the quarter, compared to analysts’ expectations of $571.40 million. BOK Financial had a return on equity of 10.09% and a net margin of 18.97%.

BOK Financial Trading Down 1.6%

Shares of NASDAQ:BOKF traded down $1.97 during midday trading on Monday, reaching $122.86. The company’s stock had a trading volume of 323,618 shares, compared to its average volume of 296,664. The firm has a 50 day moving average price of $134.23 and a two-hundred day moving average price of $134.53. BOK Financial has a fifty-two week low of $102.72 and a fifty-two week high of $146.84. The firm has a market capitalization of $7.47 billion, a price-to-earnings ratio of 11.58 and a beta of 0.82. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.78 and a current ratio of 0.78.

BOK Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th were given a $0.63 dividend. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $2.52 annualized dividend and a dividend yield of 2.1%. BOK Financial’s dividend payout ratio (DPR) is 23.75%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Royal Bank Of Canada dropped their price target on shares of BOK Financial from $149.00 to $146.00 and set a “sector perform” rating for the company in a research note on Friday, October 9th. Wells Fargo & Company downgraded BOK Financial from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $148.00 to $135.00 in a report on Tuesday, September 29th. Keefe, Bruyette & Woods lifted their target price on BOK Financial from $143.00 to $146.00 and gave the stock a “market perform” rating in a report on Friday, July 24th. Hovde Group began coverage on BOK Financial in a research report on Friday, September 11th. They issued a “market perform” rating and a $143.00 price target on the stock. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of BOK Financial in a research note on Friday, September 4th. One investment analyst has rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $140.70.

Insider Buying and Selling

In other BOK Financial news, EVP Brad Vincent sold 4,015 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $145.42, for a total transaction of $583,861.30. Following the transaction, the executive vice president directly owned 6,031 shares in the company, valued at approximately $877,028.02. This represents a 39.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven Bangert sold 1,250 shares of BOK Financial stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $143.96, for a total transaction of $179,950.00. Following the completion of the sale, the director owned 31,710 shares of the company’s stock, valued at $4,564,971.60. This represents a 3.79% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 5,274 shares of company stock valued at $765,067. 63.53% of the stock is currently owned by corporate insiders.

BOK Financial Company Profile

BOK Financial Corporation is a financial services holding company headquartered in Tulsa, Oklahoma. Through its banking and financial-services subsidiaries, the company serves businesses, institutions, individuals and families across the central and southwestern United States.

The company provides commercial banking, consumer banking, wealth management and capital markets services. Its offerings include deposit accounts, commercial and consumer loans, treasury and cash-management services, investment management, trust and private banking, mortgage lending, investment banking, securities brokerage and institutional trading.

BOK Financial operates under banking brands including Bank of Oklahoma, Bank of Texas and Bank of Albuquerque, with additional operations serving customers in Colorado, Kansas, Missouri and Arkansas.