BOK Financial (NASDAQ:BOKF) Posts Earnings Results, Misses Estimates By $0.07 EPS

Key Points

• BOK Financial reported quarterly EPS of $2.59, missing analyst expectations of $2.66 by $0.07. The company posted a return on equity of 9.89% and a net margin of 18.05%.
• The stock traded lower on the day after the results, ending at $140.47, near its 52-week high of $143.53. Trading volume was also well above average at 601,142 shares versus a typical 320,173.
• The company continues to pay a quarterly dividend of $0.63 per share, equal to an annualized $2.52 and a yield of 1.8%. Analyst sentiment remains cautious, with a consensus rating of Hold and an average price target of $136.18.

BOK Financial (NASDAQ:BOKF - Get Free Report) posted its quarterly earnings results on Monday. The bank reported $2.59 earnings per share for the quarter, missing analysts' consensus estimates of $2.66 by ($0.07), FiscalAI reports. BOK Financial had a return on equity of 9.89% and a net margin of 18.05%.

BOK Financial Price Performance

Shares of BOK Financial stock traded down $0.77 during trading on Monday, hitting $140.47. 601,142 shares of the company were exchanged, compared to its average volume of 320,173. BOK Financial has a fifty-two week low of $97.40 and a fifty-two week high of $143.53. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.03. The firm has a 50 day moving average price of $133.16 and a 200 day moving average price of $130.89. The stock has a market capitalization of $8.53 billion, a price-to-earnings ratio of 14.22 and a beta of 0.80.

BOK Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th were given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Wednesday, May 13th. BOK Financial's payout ratio is currently 25.51%.

Insiders Place Their Bets

In other BOK Financial news, EVP Mark B. Wade sold 1,700 shares of the firm's stock in a transaction on Friday, May 8th. The stock was sold at an average price of $132.62, for a total transaction of $225,454.00. Following the completion of the transaction, the executive vice president owned 20,361 shares of the company's stock, valued at approximately $2,700,275.82. This trade represents a 7.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Jeffrey A. Reid sold 1,200 shares of the business's stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $135.52, for a total value of $162,624.00. Following the completion of the transaction, the executive vice president directly owned 8,116 shares of the company's stock, valued at approximately $1,099,880.32. This trade represents a 12.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 5,500 shares of company stock valued at $738,571. Corporate insiders own 63.53% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. MML Investors Services LLC purchased a new stake in BOK Financial in the 4th quarter worth approximately $281,000. Federation des caisses Desjardins du Quebec raised its holdings in BOK Financial by 16.3% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 1,768 shares of the bank's stock valued at $209,000 after acquiring an additional 248 shares during the last quarter. Polymer Capital Management HK LTD acquired a new position in BOK Financial in the 3rd quarter valued at $245,000. Tower Research Capital LLC TRC lifted its stake in shares of BOK Financial by 172.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,554 shares of the bank's stock worth $152,000 after purchasing an additional 983 shares during the period. Finally, Walleye Capital LLC acquired a new stake in shares of BOK Financial during the second quarter worth $265,000. Institutional investors and hedge funds own 34.44% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BOKF. Citigroup increased their target price on shares of BOK Financial from $138.00 to $141.00 and gave the company a "neutral" rating in a report on Thursday, June 25th. Barclays upped their price target on BOK Financial from $135.00 to $145.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 7th. Benchmark initiated coverage on BOK Financial in a report on Wednesday, June 24th. They set a "hold" rating for the company. Raymond James Financial downgraded BOK Financial from an "outperform" rating to a "market perform" rating in a research report on Wednesday, July 1st. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of BOK Financial in a report on Tuesday, June 9th. Two research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $136.18.

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.

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