Zacks Investment Research upgraded shares of BOK Financial (NASDAQ:BOKF) from a hold rating to a buy rating in a research note published on Friday. The brokerage currently has $113.00 price target 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 out 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. Nevertheless, lower tax rate and rising interest rates would provide support to the company's financials.”
Several other research analysts have also recently issued reports on the company. BidaskClub raised BOK Financial from a buy rating to a strong-buy rating in a research note on Wednesday, March 21st. Wedbush increased their price objective on BOK Financial from $103.00 to $106.00 and gave the stock a neutral rating in a research note on Monday, March 19th. ValuEngine raised BOK Financial from a hold rating to a buy rating in a research note on Thursday, March 1st. Keefe, Bruyette & Woods reissued a hold rating and issued a $102.00 price objective on shares of BOK Financial in a research note on Tuesday, February 27th. Finally, Morgan Stanley upped their target price on BOK Financial from $99.00 to $101.00 and gave the stock an equal weight rating in a report on Friday, January 26th. Seven research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $102.33.
BOK Financial (NASDAQ:BOKF) last announced its quarterly earnings data on Wednesday, January 24th. The bank reported $1.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.05). BOK Financial had a return on equity of 10.00% and a net margin of 20.14%. The firm had revenue of $383.70 million during the quarter, compared to the consensus estimate of $391.73 million. During the same period last year, the company earned $1.09 EPS. sell-side analysts anticipate that BOK Financial will post 6.43 EPS for the current fiscal year.
In other BOK Financial news, EVP Norman P. Bagwell sold 584 shares of the company’s stock in a transaction on Monday, March 26th. The stock was sold at an average price of $99.00, for a total transaction of $57,816.00. Following the completion of the sale, the executive vice president now owns 34,415 shares in the company, valued at $3,407,085. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Steven E. Nell sold 8,011 shares of the company’s stock in a transaction on Wednesday, March 28th. The stock was sold at an average price of $98.12, for a total value of $786,039.32. Following the sale, 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. 60.50% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of BOKF. UBS Asset Management Americas Inc. lifted its holdings in shares of BOK Financial by 4.1% during the 4th quarter. UBS Asset Management Americas Inc. now owns 15,367 shares of the bank’s stock valued at $1,419,000 after purchasing an additional 603 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of BOK Financial by 11.2% during the 3rd quarter. Legal & General Group Plc now owns 9,803 shares of the bank’s stock valued at $873,000 after purchasing an additional 984 shares during the last quarter. Swiss National Bank lifted its holdings in shares of BOK Financial by 3.1% during the 4th quarter. Swiss National Bank now owns 33,500 shares of the bank’s stock valued at $3,093,000 after purchasing an additional 1,000 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of BOK Financial during the 3rd quarter valued at $101,000. Finally, Teachers Advisors LLC lifted its holdings in shares of BOK Financial by 4.3% during the 4th quarter. Teachers Advisors LLC now owns 30,653 shares of the bank’s stock valued at $2,830,000 after purchasing an additional 1,256 shares during the last quarter. Institutional investors own 33.51% of the company’s stock.
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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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