Zacks Investment Research cut shares of BOK Financial (NASDAQ:BOKF) from a buy rating to a hold rating in a research report report published on Thursday.
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.”
A number of other research firms also recently weighed in on BOKF. Keefe, Bruyette & Woods reissued a hold rating and set a $102.00 price target on shares of BOK Financial in a research note on Tuesday, February 27th. BidaskClub downgraded shares of BOK Financial from a buy rating to a hold rating in a research note on Thursday, March 1st. DA Davidson reissued a hold rating and set a $103.00 price target on shares of BOK Financial in a research note on Thursday, January 25th. Wedbush boosted their price target on shares of BOK Financial from $103.00 to $106.00 and gave the stock a neutral rating in a research note on Monday, March 19th. Finally, Morgan Stanley boosted their price target on shares of BOK Financial from $85.00 to $99.00 and gave the stock an equal weight rating in a research note on Wednesday, December 13th. 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. BOK Financial has a consensus rating of Hold and an average price target of $102.33.
BOK Financial (NASDAQ:BOKF) last posted its quarterly earnings results on Wednesday, January 24th. The bank reported $1.29 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.34 by ($0.05). The business had revenue of $383.70 million for the quarter, compared to the consensus estimate of $391.73 million. BOK Financial had a return on equity of 10.00% and a net margin of 20.14%. During the same period last year, the firm earned $1.09 earnings per share. research analysts predict that BOK Financial will post 6.43 EPS for the current year.
In other BOK Financial news, EVP Norman P. Bagwell sold 584 shares of the company’s stock in a transaction that occurred on 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 sale, the executive vice president now owns 34,415 shares of the company’s stock, valued at $3,407,085. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Steven E. Nell sold 8,011 shares of the company’s stock in a transaction that occurred on Wednesday, March 28th. The shares were sold at an average price of $98.12, for a total transaction of $786,039.32. Following the completion of the sale, the chief financial officer now directly 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 currently owned by corporate insiders.
Large investors have recently modified their holdings of the business. SG Americas Securities LLC bought a new stake in BOK Financial in the third quarter valued at approximately $101,000. State of Alaska Department of Revenue bought a new stake in BOK Financial in the fourth quarter valued at approximately $138,000. Arthur Zaske & Associates LLC bought a new stake in BOK Financial in the third quarter valued at approximately $210,000. BNP Paribas Arbitrage SA increased its stake in BOK Financial by 560.6% in the third quarter. BNP Paribas Arbitrage SA now owns 2,550 shares of the bank’s stock valued at $227,000 after purchasing an additional 2,164 shares in the last quarter. Finally, Jefferies Group LLC acquired a new position in shares of BOK Financial in the fourth quarter valued at approximately $260,000. 33.51% of the stock is owned by hedge funds and other institutional investors.
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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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