BOK Financial (NASDAQ:BOKF) Shares Gap Down Following Weak Earnings

BOK Financial Co. (NASDAQ:BOKF - Get Free Report)'s share price gapped down prior to trading on Tuesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $89.65, but opened at $86.64. BOK Financial shares last traded at $86.06, with a volume of 10,396 shares.

The bank reported $1.86 EPS for the quarter, missing analysts' consensus estimates of $2.01 by ($0.15). BOK Financial had a net margin of 15.32% and a return on equity of 9.86%. The company had revenue of $500.37 million for the quarter, compared to analyst estimates of $520.86 million.

BOK Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were issued a dividend of $0.57 per share. The ex-dividend date was Wednesday, February 12th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.48%. BOK Financial's dividend payout ratio (DPR) is presently 26.21%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BOKF. Royal Bank of Canada decreased their target price on shares of BOK Financial from $119.00 to $104.00 and set a "sector perform" rating on the stock in a research report on Wednesday. StockNews.com cut BOK Financial from a "buy" rating to a "hold" rating in a report on Monday, March 17th. Stephens lowered their price objective on BOK Financial from $124.00 to $110.00 and set an "equal weight" rating for the company in a research report on Wednesday. Hovde Group reduced their target price on BOK Financial from $122.00 to $110.00 and set an "outperform" rating on the stock in a research report on Wednesday. Finally, DA Davidson lowered their price target on BOK Financial from $122.00 to $114.00 and set a "buy" rating for the company in a report on Wednesday. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, BOK Financial currently has a consensus rating of "Hold" and an average target price of $111.60.

Institutional Trading of BOK Financial

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in BOK Financial by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 2,445,542 shares of the bank's stock valued at $260,328,000 after buying an additional 11,418 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of BOK Financial by 4.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,372,203 shares of the bank's stock valued at $252,526,000 after acquiring an additional 98,588 shares in the last quarter. AQR Capital Management LLC boosted its position in BOK Financial by 80.0% during the 4th quarter. AQR Capital Management LLC now owns 414,548 shares of the bank's stock worth $44,129,000 after purchasing an additional 184,261 shares during the period. Geode Capital Management LLC boosted its position in BOK Financial by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 410,570 shares of the bank's stock worth $43,718,000 after purchasing an additional 5,028 shares during the period. Finally, Millennium Management LLC increased its holdings in BOK Financial by 29.4% in the 4th quarter. Millennium Management LLC now owns 252,779 shares of the bank's stock valued at $26,908,000 after purchasing an additional 57,420 shares in the last quarter. Hedge funds and other institutional investors own 34.44% of the company's stock.

BOK Financial Stock Up 0.7 %

The firm has a 50-day simple moving average of $99.05 and a 200 day simple moving average of $107.37. The company has a market capitalization of $5.91 billion, a PE ratio of 11.32 and a beta of 0.93. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.75 and a quick ratio of 0.79.

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.