Zacks Investment Research Upgrades BOK Financial Corporation (BOKF) to Hold
BOK Financial Corporation (NASDAQ:BOKF) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.
According to Zacks, “Shares of BOK Financial have outperformed the industry in the last six months. 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.”
Other equities research analysts also recently issued research reports about the company. Stephens set a $95.00 price objective on BOK Financial Corporation and gave the company a “buy” rating in a report on Wednesday, July 26th. ValuEngine upgraded BOK Financial Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, June 13th. Morgan Stanley reiterated an “equal weight” rating and issued a $86.00 price objective (up previously from $85.00) on shares of BOK Financial Corporation in a report on Wednesday, October 4th. BidaskClub upgraded 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 price objective on shares of BOK Financial Corporation in a report on Tuesday, September 12th. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $90.25.
Shares of BOK Financial Corporation (NASDAQ:BOKF) opened at 90.20 on Monday. The company’s 50-day moving average is $83.84 and its 200-day moving average is $82.63. BOK Financial Corporation has a 52-week low of $67.53 and a 52-week high of $90.69. The firm has a market cap of $5.90 billion, a P/E ratio of 19.69 and a beta of 1.01.
BOK Financial Corporation (NASDAQ:BOKF) last released its quarterly earnings data on Wednesday, July 26th. The bank reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.05. The business had revenue of $387.46 million during the quarter, compared to the consensus estimate of $384.52 million. BOK Financial Corporation had a return on equity of 8.87% and a net margin of 18.96%. During the same quarter in the prior year, the company posted $1.00 earnings per share. Equities research analysts forecast that BOK Financial Corporation will post $5.38 earnings per share for the current fiscal year.
In other news, EVP Stephen D. Grossi sold 550 shares of the company’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $81.62, for a total transaction of $44,891.00. Following the completion of 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 Securities & Exchange Commission, which can be accessed through this link. Also, EVP Stacy Kymes sold 3,000 shares of the company’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $85.06, for a total value of $255,180.00. Following the transaction, the executive vice president now directly owns 29,627 shares of the company’s stock, valued at $2,520,072.62. The disclosure for this sale can be found here. 62.00% of the stock is owned by corporate insiders.
Several hedge funds have recently bought and sold shares of the company. Public Employees Retirement System of Ohio boosted its position in shares of BOK Financial Corporation by 16.6% during the second quarter. Public Employees Retirement System of Ohio now owns 10,485 shares of the bank’s stock worth $882,000 after buying an additional 1,494 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in shares of BOK Financial Corporation by 58.2% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 6,687 shares of the bank’s stock worth $563,000 after buying an additional 2,461 shares during the period. 361 Capital LLC acquired a new position in shares of BOK Financial Corporation during the second quarter worth about $2,255,000. Cubist Systematic Strategies LLC acquired a new position in shares of BOK Financial Corporation during the second quarter worth about $293,000. Finally, Royal Bank of Canada boosted its position in shares of BOK Financial Corporation by 30.1% during the second quarter. Royal Bank of Canada now owns 42,057 shares of the bank’s stock worth $3,539,000 after buying an additional 9,739 shares during the period. 31.71% of the stock is owned by institutional investors.
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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