BOK Financial (NASDAQ:BOKF) Issues Earnings Results

Key Points

• BOK Financial reported a Q3 earnings per share (EPS) of $2.22, exceeding analysts' expectations of $2.17.
• The bank recently announced a quarterly dividend of $0.57 per share, yielding 2.1% with a payout ratio of 27.31%.
• Wall Street analysts have mixed ratings on the stock, with an average price target of $115.64, indicating potential for growth as some analysts upgraded their ratings and targets.

BOK Financial (NASDAQ:BOKF - Get Free Report) announced its quarterly earnings results on Monday. The bank reported $2.22 EPS for the quarter, beating the consensus estimate of $2.17 by $0.05, Zacks reports. BOK Financial had a return on equity of 9.39% and a net margin of 15.80%.

BOK Financial Price Performance

NASDAQ BOKF traded up $2.19 on Monday, reaching $109.95. The company's stock had a trading volume of 280,806 shares, compared to its average volume of 198,238. The business has a 50-day moving average price of $110.28 and a 200 day moving average price of $101.36. The company has a current ratio of 0.78, a quick ratio of 0.77 and a debt-to-equity ratio of 0.70. The firm has a market cap of $6.99 billion, a PE ratio of 13.17 and a beta of 0.88. BOK Financial has a 52 week low of $85.07 and a 52 week high of $121.58.

BOK Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 27th. Stockholders of record on Wednesday, August 13th were given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Wednesday, August 13th. BOK Financial's payout ratio is 27.31%.

Hedge Funds Weigh In On BOK Financial

Several institutional investors have recently added to or reduced their stakes in BOKF. Qube Research & Technologies Ltd boosted its stake in BOK Financial by 193.7% in the second quarter. Qube Research & Technologies Ltd now owns 226,230 shares of the bank's stock worth $22,087,000 after purchasing an additional 149,201 shares in the last quarter. Treasurer of the State of North Carolina grew its holdings in BOK Financial by 88.0% during the 2nd quarter. Treasurer of the State of North Carolina now owns 103,962 shares of the bank's stock worth $10,150,000 after acquiring an additional 48,664 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised 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 worth $9,391,000 after acquiring an additional 11,057 shares during the last quarter. Invesco Ltd. lifted its position in shares of BOK Financial by 16.1% during the second quarter. Invesco Ltd. now owns 53,754 shares of the bank's stock worth $5,248,000 after purchasing an additional 7,444 shares in the last quarter. Finally, Palisade Capital Management LP grew its stake in shares of BOK Financial by 6.2% during the second quarter. Palisade Capital Management LP now owns 43,376 shares of the bank's stock valued at $4,235,000 after purchasing an additional 2,524 shares during the last quarter. 34.44% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. DA Davidson upped their price target on shares of BOK Financial from $114.00 to $120.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Wall Street Zen lowered BOK Financial from a "hold" rating to a "sell" rating in a report on Sunday. Jefferies Financial Group set a $135.00 price target on BOK Financial and gave the stock a "buy" rating in a report on Wednesday, October 8th. Wells Fargo & Company set a $110.00 price objective on BOK Financial and gave the company an "equal weight" rating in a research report on Monday, July 28th. Finally, Royal Bank Of Canada boosted their target price on shares of BOK Financial from $110.00 to $124.00 and gave the stock a "sector perform" rating in a research report on Friday, October 10th. Four equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $115.64.

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.

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