BOK Financial (NASDAQ:BOKF) Releases Quarterly Earnings Results, Beats Expectations By $0.28 EPS

BOK Financial (NASDAQ:BOKF) released its quarterly earnings results on Monday. The bank reported $2.58 EPS for the quarter, beating the consensus estimate of $2.30 by $0.28, Zacks reports. BOK Financial had a net margin of 17.10% and a return on equity of 9.36%.

BOK Financial Trading Down 0.7%

Shares of BOKF traded down $1.03 on Monday, hitting $137.09. 579,626 shares of the stock traded hands, compared to its average volume of 355,594. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $8.33 billion, a P/E ratio of 14.97 and a beta of 0.85. The stock’s 50 day moving average is $129.88 and its two-hundred day moving average is $121.47. BOK Financial has a 1 year low of $85.44 and a 1 year high of $139.73.

BOK Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 5th. Investors of record on Thursday, February 19th were paid a dividend of $0.63 per share. The ex-dividend date of this dividend was Thursday, February 19th. This represents a $2.52 annualized dividend and a dividend yield of 1.8%. BOK Financial’s dividend payout ratio is presently 27.51%.

Insider Activity

In related news, Director Steven Bangert sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $137.71, for a total transaction of $344,275.00. Following the transaction, the director owned 34,916 shares of the company’s stock, valued at approximately $4,808,282.36. This represents a 6.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 63.53% of the company’s stock.

Hedge Funds Weigh In On BOK Financial

Several institutional investors and hedge funds have recently modified their holdings of BOKF. Cibc World Markets Corp purchased a new position in shares of BOK Financial during the fourth quarter valued at approximately $130,994,000. Freestone Grove Partners LP lifted its stake in shares of BOK Financial by 407.0% during the third quarter. Freestone Grove Partners LP now owns 363,610 shares of the bank’s stock valued at $40,521,000 after buying an additional 291,894 shares during the period. Qube Research & Technologies Ltd lifted its stake in shares of BOK Financial by 193.7% during the second quarter. Qube Research & Technologies Ltd now owns 226,230 shares of the bank’s stock valued at $22,087,000 after buying an additional 149,201 shares during the period. Two Sigma Investments LP lifted its stake in shares of BOK Financial by 509.9% during the third quarter. Two Sigma Investments LP now owns 144,782 shares of the bank’s stock valued at $16,135,000 after buying an additional 121,045 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in shares of BOK Financial by 154.2% during the third quarter. Russell Investments Group Ltd. now owns 149,364 shares of the bank’s stock valued at $16,645,000 after buying an additional 90,611 shares during the period. Hedge funds and other institutional investors own 34.44% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Raymond James Financial reiterated an “outperform” rating and issued a $140.00 price target on shares of BOK Financial in a research report on Tuesday, January 20th. Royal Bank Of Canada increased their price target on shares of BOK Financial from $124.00 to $132.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 21st. DA Davidson reiterated a “neutral” rating and issued a $135.00 price target (up from $125.00) on shares of BOK Financial in a research report on Monday, January 26th. Keefe, Bruyette & Woods increased their price target on shares of BOK Financial from $116.00 to $135.00 and gave the company a “market perform” rating in a research report on Wednesday, January 21st. Finally, Wells Fargo & Company increased their price target on shares of BOK Financial from $115.00 to $127.00 and gave the company an “equal weight” rating in a research report on Monday, March 30th. Three equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $131.17.

BOK Financial Company Profile

BOK Financial Corporation (NASDAQ: BOKF), headquartered in Tulsa, Oklahoma, is a diversified financial services holding company serving businesses, professionals and individuals across the central and western United States. Through its banking subsidiary, BOK Financial offers a full suite of commercial banking, treasury and payment management services, as well as consumer deposit and lending solutions. The company’s offerings also encompass wealth management, trust and asset management, investment banking, and insurance products designed to meet the needs of both retail and institutional clients.

The roots of BOK Financial date back to the founding of the Bank of Oklahoma in 1910.