BOK Financial (NASDAQ:BOKF) Downgraded by Zacks Research to Hold

Zacks Research lowered shares of BOK Financial (NASDAQ:BOKF) from a strong-buy rating to a hold rating in a research report sent to investors on Monday morning,Zacks.com reports.

Several other research analysts have also recently weighed in on BOKF. Hovde Group cut BOK Financial from an “outperform” rating to a “market perform” rating and set a $129.00 target price on the stock. in a report on Friday, December 12th. Raymond James Financial reaffirmed an “outperform” rating and issued a $140.00 price target on shares of BOK Financial in a report on Tuesday, January 20th. Royal Bank Of Canada boosted their price objective on BOK Financial from $124.00 to $132.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 21st. Keefe, Bruyette & Woods upped their target price on BOK Financial from $116.00 to $135.00 and gave the company a “market perform” rating in a report on Wednesday, January 21st. Finally, Citigroup raised their target price on BOK Financial from $124.00 to $135.00 and gave the stock a “neutral” rating in a research note on Thursday, January 22nd. Three investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $130.33.

BOK Financial Stock Performance

NASDAQ:BOKF opened at $128.06 on Monday. The company has a market cap of $7.78 billion, a P/E ratio of 13.98 and a beta of 0.88. BOK Financial has a twelve month low of $85.07 and a twelve month high of $138.42. The company’s 50-day moving average price is $129.71 and its 200-day moving average price is $119.48. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.53.

BOK Financial (NASDAQ:BOKF) last posted its quarterly earnings results on Friday, January 16th. The bank reported $2.48 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.32. The firm had revenue of $589.56 million for the quarter, compared to analyst estimates of $550.05 million. BOK Financial had a net margin of 17.10% and a return on equity of 9.36%. During the same period in the previous year, the business posted $2.12 earnings per share. On average, sell-side analysts forecast that BOK Financial will post 8.83 earnings per share for the current fiscal year.

BOK Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 5th. Stockholders of record on Thursday, February 19th were given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Thursday, February 19th. BOK Financial’s payout ratio is presently 27.51%.

Insider Buying and Selling

In related news, Director Steven Bangert sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $137.71, for a total value of $344,275.00. Following the transaction, the director directly owned 34,916 shares in the company, valued at approximately $4,808,282.36. This represents a 6.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 63.53% of the company’s stock.

Institutional Investors Weigh In On BOK Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC grew its holdings in shares of BOK Financial by 173.1% during the 4th quarter. Farther Finance Advisors LLC now owns 213 shares of the bank’s stock worth $25,000 after purchasing an additional 135 shares during the period. Versant Capital Management Inc raised its holdings in BOK Financial by 92.5% in the 3rd quarter. Versant Capital Management Inc now owns 256 shares of the bank’s stock valued at $29,000 after buying an additional 123 shares during the period. Pinnacle Holdings LLC purchased a new stake in BOK Financial in the 4th quarter valued at about $31,000. Aster Capital Management DIFC Ltd acquired a new position in BOK Financial in the third quarter valued at about $41,000. Finally, Covestor Ltd boosted its stake in BOK Financial by 108.0% during the fourth quarter. Covestor Ltd now owns 366 shares of the bank’s stock worth $43,000 after buying an additional 190 shares during the period. Hedge funds and other institutional investors 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.