Wedbush Comments on BOK Financial Co.’s Q3 2018 Earnings (BOKF)
BOK Financial Co. (NASDAQ:BOKF) – Wedbush upped their Q3 2018 earnings per share (EPS) estimates for shares of BOK Financial in a research note issued to investors on Thursday, April 26th. Wedbush analyst P. Winter now forecasts that the bank will earn $1.74 per share for the quarter, up from their prior forecast of $1.72. Wedbush currently has a “Neutral” rating and a $109.00 price target on the stock. Wedbush also issued estimates for BOK Financial’s Q4 2018 earnings at $1.74 EPS, FY2018 earnings at $6.79 EPS, Q1 2019 earnings at $1.72 EPS, Q4 2019 earnings at $1.82 EPS and FY2019 earnings at $7.11 EPS.
BOKF has been the subject of a number of other research reports. Morgan Stanley raised their price objective on shares of BOK Financial from $101.00 to $105.00 and gave the stock an “equal weight” rating in a report on Friday. DA Davidson raised their price objective on shares of BOK Financial from $103.00 to $104.00 and gave the stock a “neutral” rating in a report on Thursday. Zacks Investment Research upgraded shares of BOK Financial from a “hold” rating to a “buy” rating and set a $113.00 price objective for the company in a report on Friday, April 6th. BidaskClub upgraded shares of BOK Financial from a “buy” rating to a “strong-buy” rating in a report on Wednesday, March 21st. Finally, ValuEngine upgraded shares of BOK Financial from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Seven research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $103.22.
BOK Financial (NASDAQ:BOKF) last announced its earnings results on Wednesday, April 25th. The bank reported $1.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.52 by $0.09. The company had revenue of $375.73 million during the quarter, compared to the consensus estimate of $385.36 million. BOK Financial had a net margin of 20.79% and a return on equity of 10.40%. During the same quarter in the prior year, the company posted $1.35 earnings per share.
In other news, EVP Norman P. Bagwell sold 584 shares of BOK Financial stock in a transaction dated Monday, March 26th. The shares were sold at an average price of $99.00, for a total value of $57,816.00. Following the completion of the transaction, the executive vice president now owns 34,415 shares in the company, valued at $3,407,085. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Steven E. Nell sold 8,011 shares of BOK Financial stock in a transaction dated Wednesday, March 28th. The stock was sold at an average price of $98.12, for a total transaction of $786,039.32. Following the completion of the transaction, the chief financial officer now owns 72,061 shares of the company’s stock, valued at approximately $7,070,625.32. The disclosure for this sale can be found here. Company insiders own 60.50% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company increased its stake in shares of BOK Financial by 11.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 374,138 shares of the bank’s stock worth $34,541,000 after purchasing an additional 38,618 shares in the last quarter. Swiss National Bank increased its stake in shares of BOK Financial by 3.1% in the fourth quarter. Swiss National Bank now owns 33,500 shares of the bank’s stock worth $3,093,000 after purchasing an additional 1,000 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of BOK Financial by 15.8% in the third quarter. Public Employees Retirement System of Ohio now owns 12,144 shares of the bank’s stock worth $1,082,000 after purchasing an additional 1,659 shares in the last quarter. OppenheimerFunds Inc. increased its stake in shares of BOK Financial by 30.0% in the fourth quarter. OppenheimerFunds Inc. now owns 149,469 shares of the bank’s stock worth $13,799,000 after purchasing an additional 34,499 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in shares of BOK Financial by 7.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 26,344 shares of the bank’s stock worth $2,432,000 after purchasing an additional 1,916 shares in the last quarter. Hedge funds and other institutional investors own 33.51% 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.
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