BOK Financial (NASDAQ:BOKF) Given New $111.00 Price Target at DA Davidson

BOK Financial (NASDAQ:BOKF) had its target price lifted by DA Davidson from $97.00 to $111.00 in a report released on Wednesday morning, Benzinga reports. DA Davidson currently has a neutral rating on the bank’s stock. DA Davidson also issued estimates for BOK Financial’s Q3 2024 earnings at $1.94 EPS, FY2024 earnings at $7.85 EPS and FY2025 earnings at $8.59 EPS.

BOKF has been the topic of several other reports. Hovde Group lifted their price target on BOK Financial from $106.00 to $122.00 and gave the company an outperform rating in a research report on Wednesday. Royal Bank of Canada lifted their price target on BOK Financial from $98.00 to $99.00 and gave the company a sector perform rating in a research report on Tuesday, July 9th. Raymond James reiterated an outperform rating and set a $105.00 price objective (up previously from $103.00) on shares of BOK Financial in a research note on Thursday, April 25th. Truist Financial lifted their price objective on BOK Financial from $94.00 to $112.00 and gave the company a hold rating in a research note on Wednesday. Finally, Wedbush lifted their price objective on BOK Financial from $94.00 to $115.00 and gave the company a neutral rating in a research note on Tuesday, July 23rd. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $108.00.

BOK Financial Price Performance

Shares of BOKF stock opened at $105.72 on Wednesday. The firm has a market cap of $6.82 billion, a P/E ratio of 15.41 and a beta of 1.19. BOK Financial has a fifty-two week low of $62.42 and a fifty-two week high of $107.97. The business’s 50 day moving average price is $92.97 and its 200-day moving average price is $89.12. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.82 and a current ratio of 0.82.

BOK Financial (NASDAQ:BOKF) last released its quarterly earnings results on Monday, July 22nd. The bank reported $2.54 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.65. BOK Financial had a return on equity of 10.04% and a net margin of 13.92%. The company had revenue of $871.84 million for the quarter, compared to analyst estimates of $520.43 million. During the same period in the previous year, the company posted $2.27 earnings per share. On average, equities research analysts anticipate that BOK Financial will post 7.83 earnings per share for the current year.

BOK Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Wednesday, May 15th were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend was Tuesday, May 14th. BOK Financial’s dividend payout ratio is currently 32.07%.

Insider Transactions at BOK Financial

In other news, Director Steven Bangert sold 3,000 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $91.66, for a total value of $274,980.00. Following the completion of the transaction, the director now owns 47,985 shares in the company, valued at $4,398,305.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 56.94% of the company’s stock.

Institutional Trading of BOK Financial

A number of hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its position in BOK Financial by 4,370,260.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 218,518 shares of the bank’s stock valued at $20,025,000 after acquiring an additional 218,513 shares during the last quarter. Simplicity Wealth LLC purchased a new stake in BOK Financial during the second quarter valued at $210,000. Olistico Wealth LLC purchased a new stake in BOK Financial during the second quarter valued at $46,000. Walleye Trading LLC purchased a new stake in BOK Financial during the first quarter valued at $290,000. Finally, Jacobs Levy Equity Management Inc. increased its position in BOK Financial by 23.3% during the first quarter. Jacobs Levy Equity Management Inc. now owns 39,174 shares of the bank’s stock valued at $3,604,000 after acquiring an additional 7,412 shares during the last quarter. Hedge funds and other institutional investors own 34.44% of the company’s stock.

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.