Zacks Investment Research Lowers BOK Financial Corporation (BOKF) to Hold
BOK Financial Corporation (NASDAQ:BOKF) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Shares of BOK Financial have outperformed the industry in the past one year. This price performance is backed by impressive earnings surprise history. The company has surpassed the Zacks Consensus Estimate for earnings in three of the trailing four quarters. We believe the diverse revenue mix and favorable geographic footprint will likely support growth in the upcoming quarters. The company's continuous expansion via acquisitions is also expected to aid top-line growth. However, consistently mounting costs remain near-term headwind. Also, significant exposure towards brokerage and trading revenues remain a major concern.”
A number of other equities research analysts also recently weighed in on the stock. Stephens set a $95.00 price target on shares of BOK Financial Corporation and gave the company a “buy” rating in a report on Wednesday, July 26th. ValuEngine raised shares of BOK Financial Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $90.00 price objective on shares of BOK Financial Corporation in a research note on Tuesday, August 29th. BidaskClub upgraded shares of BOK Financial Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Finally, Piper Jaffray Companies reiterated a “hold” rating and issued a $89.00 target price on shares of BOK Financial Corporation in a report on Friday, July 14th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. BOK Financial Corporation currently has a consensus rating of “Hold” and a consensus price target of $89.63.
Shares of BOK Financial Corporation (NASDAQ:BOKF) traded down 0.81% during trading on Tuesday, reaching $89.44. The company had a trading volume of 65,664 shares. The firm has a market capitalization of $5.85 billion, a P/E ratio of 19.52 and a beta of 1.01. The firm’s 50 day moving average price is $82.32 and its 200 day moving average price is $82.08. BOK Financial Corporation has a 12 month low of $67.53 and a 12 month high of $90.69.
BOK Financial Corporation (NASDAQ:BOKF) last released its earnings results on Wednesday, July 26th. The bank reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.05. BOK Financial Corporation had a return on equity of 8.87% and a net margin of 18.96%. The firm had revenue of $387.46 million for the quarter, compared to analyst estimates of $384.52 million. During the same period in the previous year, the company earned $1.00 earnings per share. Equities analysts predict that BOK Financial Corporation will post $5.39 EPS for the current year.
In other news, EVP Stephen D. Grossi sold 550 shares of BOK Financial Corporation stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $81.62, for a total value of $44,891.00. Following the transaction, the executive vice president now directly owns 12,601 shares of the company’s stock, valued at $1,028,493.62. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Stacy Kymes sold 3,000 shares of BOK Financial Corporation stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $85.06, for a total transaction of $255,180.00. Following the completion of the transaction, the executive vice president now directly owns 29,627 shares in the company, valued at $2,520,072.62. The disclosure for this sale can be found here. Company insiders own 62.00% of the company’s stock.
Several large investors have recently modified their holdings of BOKF. Bank of New York Mellon Corp lifted its position in shares of BOK Financial Corporation by 5.4% in the 1st quarter. Bank of New York Mellon Corp now owns 175,347 shares of the bank’s stock valued at $13,725,000 after acquiring an additional 9,052 shares in the last quarter. UBS Asset Management Americas Inc. grew its position in BOK Financial Corporation by 12.9% during the 1st quarter. UBS Asset Management Americas Inc. now owns 8,724 shares of the bank’s stock worth $683,000 after purchasing an additional 1,000 shares in the last quarter. Karp Capital Management Corp purchased a new position in BOK Financial Corporation during the 1st quarter worth approximately $974,000. Envestnet Asset Management Inc. grew its position in BOK Financial Corporation by 17.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 18,651 shares of the bank’s stock worth $1,458,000 after purchasing an additional 2,721 shares in the last quarter. Finally, Pacer Advisors Inc. grew its position in BOK Financial Corporation by 11.7% during the 1st quarter. Pacer Advisors Inc. now owns 2,686 shares of the bank’s stock worth $210,000 after purchasing an additional 282 shares in the last quarter. Institutional investors and hedge funds own 31.71% of the company’s stock.
About BOK Financial Corporation
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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