BOK Financial (NASDAQ:BOKF) Posts Quarterly Earnings Results, Beats Expectations By $0.21 EPS

BOK Financial (NASDAQ:BOKF - Get Free Report) released its earnings results on Monday. The bank reported $2.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.98 by $0.21, Zacks reports. The company had revenue of $525.50 million during the quarter, compared to analyst estimates of $521.80 million. BOK Financial had a return on equity of 9.49% and a net margin of 15.80%. During the same quarter in the prior year, the company earned $2.54 earnings per share.

BOK Financial Stock Performance

Shares of NASDAQ:BOKF traded down $1.08 during midday trading on Thursday, hitting $106.17. The company's stock had a trading volume of 242,940 shares, compared to its average volume of 258,781. The stock has a market capitalization of $6.82 billion, a price-to-earnings ratio of 12.71 and a beta of 0.86. The stock's 50 day simple moving average is $98.02 and its 200 day simple moving average is $100.77. BOK Financial has a fifty-two week low of $85.07 and a fifty-two week high of $121.58. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.76 and a current ratio of 0.76.

BOK Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Thursday, May 15th were given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.15%. The ex-dividend date was Thursday, May 15th. BOK Financial's dividend payout ratio is currently 27.31%.

Institutional Investors Weigh In On BOK Financial

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Acadian Asset Management LLC bought a new stake in shares of BOK Financial in the first quarter valued at about $159,000. Royal Bank of Canada lifted its stake in shares of BOK Financial by 11.3% in the first quarter. Royal Bank of Canada now owns 3,201 shares of the bank's stock valued at $333,000 after buying an additional 324 shares during the period. Jane Street Group LLC lifted its stake in shares of BOK Financial by 344.0% in the first quarter. Jane Street Group LLC now owns 20,326 shares of the bank's stock valued at $2,117,000 after buying an additional 15,748 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of BOK Financial by 14.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 90,171 shares of the bank's stock valued at $9,391,000 after buying an additional 11,057 shares during the period. 34.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Citigroup increased their target price on BOK Financial from $97.00 to $100.00 and gave the company a "neutral" rating in a report on Wednesday, July 2nd. Keefe, Bruyette & Woods upped their price target on shares of BOK Financial from $101.00 to $115.00 and gave the stock a "market perform" rating in a research note on Thursday. Royal Bank Of Canada upped their price target on shares of BOK Financial from $104.00 to $110.00 and gave the stock a "sector perform" rating in a research note on Wednesday. Hovde Group upped their price target on shares of BOK Financial from $110.00 to $123.00 and gave the stock an "outperform" rating in a research note on Tuesday. Finally, Jefferies Financial Group began coverage on shares of BOK Financial in a research note on Wednesday, May 21st. They issued a "hold" rating and a $105.00 price target on the stock. Nine research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, BOK Financial has a consensus rating of "Hold" and an average target price of $111.75.

About BOK Financial

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.