Zacks Investment Research upgraded shares of BOK Financial (NASDAQ:BOKF) from a hold rating to a strong-buy rating in a research note published on Thursday morning. They currently have $108.00 target price on the bank’s stock.
According to Zacks, “Shares of BOK Financial have outperformed the industry over the past six months. The company has a decent earnings surprise history. It surpassed the Zacks Consensus Estimate for earnings in two of the trailing four quarters. We believe the diverse revenue mix and favorable geographic footprint will support growth in the upcoming quarters. The company's continuous expansion via acquisitions is also expected to aid top-line growth. Moreover, increasing loan balances and easing margin pressure are positives. However, consistently mounting costs remain a near-term headwind. Also, significant exposure toward brokerage and trading revenues amid challenging trading environment is a major concern.”
Several other brokerages have also recently commented on BOKF. Piper Jaffray Companies restated a hold rating and issued a $89.00 target price on shares of BOK Financial in a research report on Thursday, October 19th. ValuEngine upgraded shares of BOK Financial from a hold rating to a buy rating in a research report on Thursday, November 30th. Morgan Stanley restated an equal weight rating and issued a $86.00 target price (up from $85.00) on shares of BOK Financial in a research report on Wednesday, October 4th. Finally, Royal Bank of Canada restated a hold rating and issued a $92.00 target price on shares of BOK Financial in a research report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $93.75.
BOK Financial (BOKF) traded down $0.49 during midday trading on Thursday, reaching $95.75. 109,200 shares of the company’s stock were exchanged, compared to its average volume of 138,344. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 1.82. The company has a market cap of $6,267.49, a P/E ratio of 20.07, a P/E/G ratio of 1.98 and a beta of 1.00. BOK Financial has a 52-week low of $73.44 and a 52-week high of $96.75.
BOK Financial (NASDAQ:BOKF) last posted its quarterly earnings data on Wednesday, October 25th. The bank reported $1.31 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.36 by ($0.05). The business had revenue of $394.16 million during the quarter, compared to the consensus estimate of $392.05 million. BOK Financial had a net margin of 19.31% and a return on equity of 9.15%. During the same period in the prior year, the firm earned $1.13 EPS. research analysts forecast that BOK Financial will post 5.34 earnings per share for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in BOKF. Schwab Charles Investment Management Inc. increased its position in BOK Financial by 10.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 104,076 shares of the bank’s stock worth $8,756,000 after purchasing an additional 9,757 shares in the last quarter. Bank of New York Mellon Corp increased its position in BOK Financial by 4.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 183,362 shares of the bank’s stock worth $15,427,000 after purchasing an additional 8,015 shares in the last quarter. Legal & General Group Plc increased its position in BOK Financial by 1.5% during the 2nd quarter. Legal & General Group Plc now owns 8,819 shares of the bank’s stock worth $742,000 after purchasing an additional 129 shares in the last quarter. JPMorgan Chase & Co. increased its position in BOK Financial by 38.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 10,544 shares of the bank’s stock worth $887,000 after purchasing an additional 2,942 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in BOK Financial by 2.7% during the 2nd quarter. Wells Fargo & Company MN now owns 276,496 shares of the bank’s stock worth $23,262,000 after purchasing an additional 7,309 shares in the last quarter. Institutional investors and hedge funds own 31.56% of the company’s stock.
About BOK Financial
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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