BOK Financial (NASDAQ:BOKF) Posts Quarterly Earnings Results, Beats Estimates By $0.12 EPS

Key Points

• BOK Financial reported quarterly EPS of $2.64, beating analyst estimates by $0.12, while revenue of $561.45 million fell short of the $571.40 million consensus.
• Shares declined to $122.86 during Monday trading. The stock has a market capitalization of $7.47 billion and trades at a price-to-earnings ratio of 11.58.
• The company paid a quarterly dividend of $0.63 per share, equivalent to an annualized $2.52 dividend and a 2.1% yield. Analysts maintain a consensus “Hold” rating with an average price target of $140.70.

BOK Financial (NASDAQ:BOKF - Get Free Report) released its quarterly earnings data on Monday. The bank reported $2.64 EPS for the quarter, beating analysts' consensus estimates of $2.52 by $0.12, FiscalAI reports. The business had revenue of $561.45 million during the quarter, compared to analysts' expectations of $571.40 million. BOK Financial had a net margin of 18.97% and a return on equity of 10.09%.

BOK Financial Price Performance

Shares of NASDAQ BOKF traded down $1.97 during trading hours on Monday, hitting $122.86. 323,618 shares of the stock were exchanged, compared to its average volume of 296,664. The company's fifty day simple moving average is $134.23 and its two-hundred day simple moving average is $134.53. The company has a market cap of $7.47 billion, a PE ratio of 11.58 and a beta of 0.82. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.78 and a current ratio of 0.78. BOK Financial has a 1-year low of $102.72 and a 1-year high of $146.84.

BOK Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th were issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Wednesday, August 19th. BOK Financial's dividend payout ratio is 23.75%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on BOKF shares. Raymond James Financial cut shares of BOK Financial from an "outperform" rating to a "market perform" rating in a research note on Wednesday, July 1st. Royal Bank Of Canada reduced their target price on BOK Financial from $149.00 to $146.00 and set a "sector perform" rating for the company in a research note on Friday, October 9th. Benchmark began coverage on BOK Financial in a report on Wednesday, June 24th. They set a "hold" rating for the company. Weiss Ratings restated a "buy (b)" rating on shares of BOK Financial in a research note on Friday, September 4th. Finally, Wells Fargo & Company cut BOK Financial from an "equal weight" rating to an "underweight" rating and reduced their price objective for the stock from $148.00 to $135.00 in a report on Tuesday, September 29th. One research analyst has rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, BOK Financial presently has a consensus rating of "Hold" and an average target price of $140.70.

Insiders Place Their Bets

In other news, EVP Brad A. Vincent sold 4,015 shares of the business's stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $145.42, for a total transaction of $583,861.30. Following the completion of the transaction, the executive vice president owned 6,031 shares of the company's stock, valued at approximately $877,028.02. The trade was a 39.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven Bangert sold 1,250 shares of the company's stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $143.96, for a total value of $179,950.00. Following the sale, the director owned 31,710 shares of the company's stock, valued at approximately $4,564,971.60. This represents a 3.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 5,274 shares of company stock worth $765,067. Company insiders own 63.53% of the company's stock.

BOK Financial Company Profile

BOK Financial Corporation is a financial services holding company headquartered in Tulsa, Oklahoma. Through its banking and financial-services subsidiaries, the company serves businesses, institutions, individuals and families across the central and southwestern United States.

The company provides commercial banking, consumer banking, wealth management and capital markets services. Its offerings include deposit accounts, commercial and consumer loans, treasury and cash-management services, investment management, trust and private banking, mortgage lending, investment banking, securities brokerage and institutional trading.

BOK Financial operates under banking brands including Bank of Oklahoma, Bank of Texas and Bank of Albuquerque, with additional operations serving customers in Colorado, Kansas, Missouri and Arkansas.

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