DA Davidson Raises BOK Financial (NASDAQ:BOKF) Price Target to $111.00

BOK Financial (NASDAQ:BOKF) had its target price hoisted by DA Davidson from $97.00 to $111.00 in a report published on Wednesday morning, Benzinga reports. The brokerage 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.

Several other research firms have also recently issued reports on BOKF. Hovde Group increased their target price on BOK Financial from $106.00 to $122.00 and gave the stock an outperform rating in a research report on Wednesday. Wells Fargo & Company increased their price objective on shares of BOK Financial from $80.00 to $95.00 and gave the company an equal weight rating in a report on Wednesday, April 10th. Keefe, Bruyette & Woods lifted their price objective on shares of BOK Financial from $97.00 to $100.00 and gave the company a market perform rating in a research report on Thursday, April 25th. Truist Financial upped their target price on shares of BOK Financial from $94.00 to $112.00 and gave the stock a hold rating in a research report on Wednesday. Finally, Raymond James reiterated an outperform rating and issued a $105.00 price target (up from $103.00) on shares of BOK Financial in a report on Thursday, April 25th. Nine research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, BOK Financial presently has a consensus rating of Hold and a consensus target price of $108.00.

BOK Financial Stock Up 0.0 %

BOKF stock opened at $105.72 on Wednesday. The company has a market cap of $6.82 billion, a price-to-earnings ratio of 15.41 and a beta of 1.19. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.82 and a current ratio of 0.82. The business’s 50-day moving average is $92.97 and its two-hundred day moving average is $89.08. BOK Financial has a fifty-two week low of $62.42 and a fifty-two week high of $107.97.

BOK Financial (NASDAQ:BOKF) last issued its quarterly earnings data on Monday, July 22nd. The bank reported $2.54 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.65. BOK Financial had a net margin of 13.92% and a return on equity of 10.04%. The firm had revenue of $871.84 million for the quarter, compared to analysts’ expectations of $520.43 million. During the same quarter in the prior year, the business earned $2.27 EPS. As a group, analysts forecast that BOK Financial will post 7.72 earnings per share for the current year.

BOK Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Wednesday, May 15th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date was Tuesday, May 14th. BOK Financial’s dividend payout ratio (DPR) is 32.07%.

Insider Activity

In other BOK Financial news, Director Steven Bangert sold 3,000 shares of BOK Financial stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $91.66, for a total transaction of $274,980.00. Following the completion of the transaction, the director now directly owns 47,985 shares of the company’s stock, valued at $4,398,305.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 56.94% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Treasurer of the State of North Carolina lifted its stake in shares of BOK Financial by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 12,564 shares of the bank’s stock worth $1,076,000 after acquiring an additional 120 shares during the last quarter. New York State Common Retirement Fund increased its stake in BOK Financial by 0.8% in the fourth quarter. New York State Common Retirement Fund now owns 25,063 shares of the bank’s stock worth $2,147,000 after purchasing an additional 195 shares during the period. Covestor Ltd increased its stake in BOK Financial by 361.8% in the first quarter. Covestor Ltd now owns 471 shares of the bank’s stock worth $43,000 after purchasing an additional 369 shares during the period. GAMMA Investing LLC bought a new stake in shares of BOK Financial during the fourth quarter worth $41,000. Finally, Olistico Wealth LLC purchased a new stake in shares of BOK Financial during the second quarter valued at $46,000. Hedge funds and other institutional investors own 34.44% of the company’s stock.

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.