Brokerages Expect BOK Financial Corporation (BOKF) Will Post Quarterly Sales of $392.15 Million
Brokerages expect that BOK Financial Corporation (NASDAQ:BOKF) will post $392.15 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for BOK Financial Corporation’s earnings. The highest sales estimate is $399.60 million and the lowest is $388.40 million. BOK Financial Corporation posted sales of $379.19 million during the same quarter last year, which suggests a positive year over year growth rate of 3.4%. The company is expected to issue its next earnings results before the market opens on Wednesday, October 25th.
According to Zacks, analysts expect that BOK Financial Corporation will report full-year sales of $392.15 million for the current fiscal year, with estimates ranging from $1.54 billion to $1.56 billion. For the next year, analysts anticipate that the firm will report sales of $1.56 billion per share, with estimates ranging from $1.27 billion to $1.64 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover BOK Financial Corporation.
BOK Financial Corporation (NASDAQ:BOKF) last posted its quarterly earnings results on Wednesday, July 26th. The bank reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.05. BOK Financial Corporation had a net margin of 18.96% and a return on equity of 8.87%. The company had revenue of $387.46 million for the quarter, compared to the consensus estimate of $384.52 million. During the same period last year, the company posted $1.00 EPS.
Several research analysts have recently commented on the company. Stephens set a $95.00 price objective on BOK Financial Corporation and gave the stock a “buy” rating in a report on Wednesday, July 26th. Zacks Investment Research raised BOK Financial Corporation from a “hold” rating to a “buy” rating and set a $96.00 price objective for the company in a report on Thursday, August 3rd. BidaskClub raised BOK Financial Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. ValuEngine lowered BOK Financial Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Finally, Piper Jaffray Companies reissued a “hold” rating and set a $89.00 price objective on shares of BOK Financial Corporation in a report on Friday, July 14th. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $89.75.
In other BOK Financial Corporation news, EVP Stacy Kymes sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $85.06, for a total value of $255,180.00. Following the completion of the sale, the executive vice president now owns 29,627 shares in the company, valued at $2,520,072.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Stephen D. Grossi sold 550 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $81.62, for a total value of $44,891.00. Following the completion of the sale, the executive vice president now owns 12,601 shares of the company’s stock, valued at approximately $1,028,493.62. The disclosure for this sale can be found here. Insiders sold 5,300 shares of company stock valued at $441,751 in the last quarter. Corporate insiders own 62.00% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. Amalgamated Bank lifted its position in BOK Financial Corporation by 3.2% in the first quarter. Amalgamated Bank now owns 3,684 shares of the bank’s stock valued at $288,000 after purchasing an additional 115 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of BOK Financial Corporation by 1.5% during the second quarter. Legal & General Group Plc now owns 8,819 shares of the bank’s stock valued at $742,000 after acquiring an additional 129 shares in the last quarter. People s United Financial Inc. raised its holdings in shares of BOK Financial Corporation by 1.2% during the second quarter. People s United Financial Inc. now owns 10,643 shares of the bank’s stock valued at $895,000 after acquiring an additional 130 shares in the last quarter. Alliancebernstein L.P. raised its holdings in shares of BOK Financial Corporation by 0.7% during the first quarter. Alliancebernstein L.P. now owns 20,352 shares of the bank’s stock valued at $1,593,000 after acquiring an additional 150 shares in the last quarter. Finally, Probity Advisors Inc. raised its holdings in shares of BOK Financial Corporation by 1.3% during the second quarter. Probity Advisors Inc. now owns 12,615 shares of the bank’s stock valued at $1,061,000 after acquiring an additional 157 shares in the last quarter. Hedge funds and other institutional investors own 32.34% of the company’s stock.
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Shares of BOK Financial Corporation (NASDAQ BOKF) opened at 81.51 on Friday. The stock has a 50 day moving average of $81.70 and a 200-day moving average of $81.72. The firm has a market capitalization of $5.33 billion, a P/E ratio of 17.79 and a beta of 1.00. BOK Financial Corporation has a 1-year low of $65.74 and a 1-year high of $88.80.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Friday, August 11th were given a $0.44 dividend. The ex-dividend date of this dividend was Wednesday, August 9th. This represents a $1.76 annualized dividend and a yield of 2.16%. BOK Financial Corporation’s payout ratio is currently 38.34%.
About BOK Financial Corporation
BOK Financial Corporation is a financial holding company. The Company offers full service banking in Oklahoma, Texas, New Mexico, Northwest Arkansas, Colorado, Arizona and Kansas/Missouri. The Company’s segments include Commercial Banking, Consumer Banking, Wealth Management, and Funds Management and Other.
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