DA Davidson Forecasts Increased Earnings for BOK Financial

BOK Financial Co. (NASDAQ:BOKF) – Equities researchers at DA Davidson increased their FY2024 earnings per share estimates for shares of BOK Financial in a note issued to investors on Wednesday, October 23rd. DA Davidson analyst P. Winter now expects that the bank will post earnings of $8.05 per share for the year, up from their previous forecast of $8.00. DA Davidson has a “Buy” rating and a $123.00 price target on the stock. The consensus estimate for BOK Financial’s current full-year earnings is $7.85 per share. DA Davidson also issued estimates for BOK Financial’s Q4 2024 earnings at $2.06 EPS.

A number of other research firms have also weighed in on BOKF. Keefe, Bruyette & Woods increased their price objective on shares of BOK Financial from $100.00 to $110.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th. StockNews.com raised BOK Financial from a “sell” rating to a “hold” rating in a report on Friday, July 26th. Wedbush reiterated a “neutral” rating and set a $115.00 price target on shares of BOK Financial in a research report on Tuesday. Hovde Group boosted their price target on BOK Financial from $106.00 to $122.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Finally, Royal Bank of Canada raised their price objective on shares of BOK Financial from $111.00 to $113.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $111.90.

BOK Financial Trading Down 2.2 %

Shares of NASDAQ:BOKF opened at $105.66 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 1.27. BOK Financial has a 52-week low of $62.42 and a 52-week high of $114.93. The business has a 50-day moving average price of $104.80 and a 200-day moving average price of $97.23. The stock has a market cap of $6.82 billion, a price-to-earnings ratio of 15.40 and a beta of 1.17.

BOK Financial (NASDAQ:BOKF) last announced its quarterly earnings data on Monday, October 21st. The bank reported $2.18 EPS for the quarter, beating the consensus estimate of $1.98 by $0.20. The firm had revenue of $888.50 million during the quarter, compared to analyst estimates of $509.43 million. BOK Financial had a net margin of 13.92% and a return on equity of 9.94%. During the same period last year, the firm posted $2.04 EPS.

BOK Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Thursday, August 15th were issued a $0.55 dividend. The ex-dividend date was Thursday, August 15th. This represents a $2.20 annualized dividend and a yield of 2.08%. BOK Financial’s payout ratio is 32.07%.

Institutional Investors Weigh In On BOK Financial

Institutional investors have recently made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. purchased a new position in BOK Financial in the 2nd quarter valued at approximately $39,000. Covestor Ltd boosted its holdings in BOK Financial by 361.8% in the first quarter. Covestor Ltd now owns 471 shares of the bank’s stock valued at $43,000 after purchasing an additional 369 shares during the period. Olistico Wealth LLC acquired a new position in BOK Financial during the 2nd quarter worth $46,000. Bessemer Group Inc. purchased a new stake in BOK Financial during the 1st quarter worth about $86,000. Finally, Point72 DIFC Ltd acquired a new stake in BOK Financial in the 2nd quarter valued at about $143,000. 34.44% of the stock is currently owned by institutional investors and hedge funds.

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.