BOK Financial (NASDAQ:BOKF) Shares Gap Down After Earnings Miss

BOK Financial Co. (NASDAQ:BOKF - Get Free Report)'s stock price gapped down before the market opened on Tuesday following a weaker than expected 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.

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

BOK Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend was Wednesday, February 12th. BOK Financial's dividend payout ratio (DPR) is presently 28.04%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on BOKF shares. StockNews.com cut BOK Financial from a "buy" rating to a "hold" rating in a report on Monday, March 17th. Royal Bank of Canada cut their price objective on BOK Financial from $119.00 to $104.00 and set a "sector perform" rating for the company in a report on Wednesday. Hovde Group decreased their price target on shares of BOK Financial from $122.00 to $110.00 and set an "outperform" rating for the company in a report on Wednesday. DA Davidson cut their price objective on BOK Financial from $122.00 to $114.00 and set a "buy" rating for the company in a research report on Wednesday. Finally, Wells Fargo & Company lowered their price target on shares of BOK Financial from $120.00 to $100.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 9th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $111.60.

Institutional Trading of BOK Financial

Several hedge funds have recently modified their holdings of the company. Picton Mahoney Asset Management acquired a new stake in BOK Financial during the 4th quarter valued at $30,000. True Wealth Design LLC grew its holdings in BOK Financial by 66.9% during the 4th quarter. True Wealth Design LLC now owns 282 shares of the bank's stock worth $30,000 after acquiring an additional 113 shares during the last quarter. Venturi Wealth Management LLC increased its position in BOK Financial by 33.8% in the 4th quarter. Venturi Wealth Management LLC now owns 396 shares of the bank's stock valued at $42,000 after acquiring an additional 100 shares in the last quarter. US Bancorp DE lifted its position in shares of BOK Financial by 12.5% during the fourth quarter. US Bancorp DE now owns 1,088 shares of the bank's stock worth $116,000 after purchasing an additional 121 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd increased its holdings in shares of BOK Financial by 538.9% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,182 shares of the bank's stock valued at $126,000 after purchasing an additional 997 shares in the last quarter. Institutional investors and hedge funds own 34.44% of the company's stock.

BOK Financial Stock Up 0.7 %

The stock has a market cap of $5.91 billion, a P/E ratio of 11.32 and a beta of 0.93. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.79 and a current ratio of 0.75. The firm's 50-day moving average is $99.05 and its two-hundred day moving average is $107.36.

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.