Zacks Research Upgrades BOK Financial (NASDAQ:BOKF) to Strong-Buy

BOK Financial (NASDAQ:BOKF) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

A number of other brokerages have also recently weighed in on BOKF. Wells Fargo & Company lifted their target price on BOK Financial from $105.00 to $115.00 and gave the company an “equal weight” rating in a report on Monday, January 5th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of BOK Financial in a research note on Wednesday. Raymond James Financial reiterated an “outperform” rating and set a $140.00 target price on shares of BOK Financial in a report on Tuesday. Hovde Group lowered shares of BOK Financial from an “outperform” rating to a “market perform” rating and set a $129.00 price target on the stock. in a report on Friday, December 12th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of BOK Financial from $116.00 to $135.00 and gave the stock a “market perform” rating in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, BOK Financial has an average rating of “Moderate Buy” and an average price target of $128.50.

BOK Financial Price Performance

BOK Financial stock opened at $132.12 on Thursday. BOK Financial has a 1 year low of $85.07 and a 1 year high of $138.09. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.76 and a current ratio of 0.76. The firm has a 50 day moving average price of $119.22 and a 200 day moving average price of $111.74. The company has a market cap of $8.36 billion, a price-to-earnings ratio of 14.42 and a beta of 0.88.

BOK Financial (NASDAQ:BOKF) last announced its quarterly earnings results on Tuesday, January 20th. The bank reported $2.48 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.32. BOK Financial had a net margin of 17.10% and a return on equity of 9.37%. The company had revenue of $589.56 million for the quarter, compared to analyst estimates of $550.05 million. During the same quarter last year, the business earned $2.12 EPS. Sell-side analysts predict that BOK Financial will post 8.83 earnings per share for the current year.

Insider Activity at BOK Financial

In other news, Director Steven Bangert sold 1,500 shares of the company’s stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $106.29, for a total value of $159,435.00. Following the completion of the transaction, the director directly owned 38,416 shares in the company, valued at approximately $4,083,236.64. This represents a 3.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 3,500 shares of company stock worth $380,395 over the last 90 days. Insiders own 56.94% of the company’s stock.

Hedge Funds Weigh In On BOK Financial

A number of institutional investors have recently added to or reduced their stakes in the company. Greenleaf Trust boosted its position in BOK Financial by 2.4% in the 3rd quarter. Greenleaf Trust now owns 4,214 shares of the bank’s stock valued at $470,000 after buying an additional 98 shares during the last quarter. Forum Financial Management LP lifted its stake in shares of BOK Financial by 5.2% in the second quarter. Forum Financial Management LP now owns 2,488 shares of the bank’s stock worth $243,000 after acquiring an additional 122 shares in the last quarter. GAMMA Investing LLC boosted its holdings in BOK Financial by 8.4% in the fourth quarter. GAMMA Investing LLC now owns 1,572 shares of the bank’s stock valued at $186,000 after purchasing an additional 122 shares during the last quarter. Versant Capital Management Inc grew its stake in BOK Financial by 92.5% during the 3rd quarter. Versant Capital Management Inc now owns 256 shares of the bank’s stock valued at $29,000 after purchasing an additional 123 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its stake in BOK Financial by 173.1% during the 4th quarter. Farther Finance Advisors LLC now owns 213 shares of the bank’s stock valued at $25,000 after purchasing an additional 135 shares in the last quarter. Institutional investors and hedge funds own 34.44% of the company’s stock.

About BOK Financial

BOK Financial Corporation (NASDAQ: BOKF), headquartered in Tulsa, Oklahoma, is a diversified financial services holding company serving businesses, professionals and individuals across the central and western United States. Through its banking subsidiary, BOK Financial offers a full suite of commercial banking, treasury and payment management services, as well as consumer deposit and lending solutions. The company’s offerings also encompass wealth management, trust and asset management, investment banking, and insurance products designed to meet the needs of both retail and institutional clients.

The roots of BOK Financial date back to the founding of the Bank of Oklahoma in 1910.