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

Shares of BOK Financial Co. (NASDAQ:BOKF) gapped down prior to trading on Tuesday following a dissappointing earnings announcement. 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 trading hands.

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

BOK Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were paid a $0.57 dividend. The ex-dividend date was Wednesday, February 12th. This represents a $2.28 dividend on an annualized basis and a yield of 2.59%. BOK Financial’s dividend payout ratio is currently 28.04%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BOKF. Stephens reissued an “equal weight” rating and set a $124.00 price objective on shares of BOK Financial in a report on Tuesday. Wells Fargo & Company cut their price target on shares of BOK Financial from $120.00 to $100.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 9th. StockNews.com cut shares of BOK Financial from a “buy” rating to a “hold” rating in a research report on Monday, March 17th. Royal Bank of Canada upped their target price on shares of BOK Financial from $115.00 to $120.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 22nd. Finally, Barclays lowered their price target on BOK Financial from $115.00 to $110.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 8th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $116.70.

Hedge Funds Weigh In On BOK Financial

A number of large investors have recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of BOK Financial in the fourth quarter worth $23,516,000. Freestone Grove Partners LP purchased a new stake in shares of BOK Financial during the fourth quarter worth about $21,740,000. AQR Capital Management LLC grew its stake in shares of BOK Financial by 80.0% in the fourth 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 last quarter. Dimensional Fund Advisors LP increased its holdings in 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 purchasing an additional 98,588 shares during the period. Finally, FIL Ltd bought a new position in BOK Financial during the 4th quarter valued at approximately $6,281,000. 34.44% of the stock is owned by hedge funds and other institutional investors.

BOK Financial Stock Down 1.7 %

The company has a debt-to-equity ratio of 0.57, a current ratio of 0.75 and a quick ratio of 0.79. The stock has a market capitalization of $5.66 billion, a PE ratio of 10.84 and a beta of 0.93. The company has a 50 day moving average price of $100.25 and a 200-day moving average price of $107.63.

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.