Zacks Investment Research upgraded shares of BOK Financial Corporation (NASDAQ:BOKF) from a sell rating to a hold rating in a research report released on Monday morning.
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.”
Several other analysts have also commented on BOKF. BidaskClub lowered shares of BOK Financial Corporation from a sell rating to a strong sell rating in a research note on Friday, August 18th. Morgan Stanley reissued an equal weight rating and set a $86.00 target price (up from $85.00) on shares of BOK Financial Corporation in a research note on Wednesday, October 4th. ValuEngine upgraded shares of BOK Financial Corporation from a hold rating to a buy rating in a research report on Thursday, September 28th. Piper Jaffray Companies restated a hold rating and issued a $89.00 price target on shares of BOK Financial Corporation in a research report on Tuesday, September 12th. Finally, Stephens set a $95.00 price target on shares of BOK Financial Corporation and gave the company a buy rating in a research report on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $90.25.
BOK Financial Corporation (BOKF) opened at 89.14 on Monday. The firm has a market capitalization of $5.83 billion, a P/E ratio of 19.46 and a beta of 1.01. The company’s 50 day moving average price is $84.39 and its 200 day moving average price is $82.73. BOK Financial Corporation has a 12 month low of $68.55 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 EPS for the quarter, beating the consensus estimate of $1.30 by $0.05. BOK Financial Corporation had a net margin of 18.96% and a return on equity of 8.87%. The business had revenue of $387.46 million during the quarter, compared to analyst estimates of $384.52 million. During the same period in the prior year, the business earned $1.00 earnings per share. Analysts anticipate that BOK Financial Corporation will post $5.38 EPS for the current year.
In other BOK Financial Corporation news, EVP Stephen D. Grossi sold 550 shares of the 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 completion of the sale, the executive vice president now owns 12,601 shares in the company, valued at approximately $1,028,493.62. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Stacy Kymes sold 3,000 shares of the 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 sale, the executive vice president now owns 29,627 shares of the company’s stock, valued at approximately $2,520,072.62. The disclosure for this sale can be found here. 62.00% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Amalgamated Bank lifted its position in BOK Financial Corporation by 3.2% in the 1st quarter. Amalgamated Bank now owns 3,684 shares of the bank’s stock worth $288,000 after buying an additional 115 shares in the last quarter. Legal & General Group Plc lifted its position in BOK Financial Corporation by 1.5% in the 2nd quarter. Legal & General Group Plc now owns 8,819 shares of the bank’s stock worth $742,000 after buying an additional 129 shares in the last quarter. People s United Financial Inc. lifted its position in BOK Financial Corporation by 1.2% in the 2nd quarter. People s United Financial Inc. now owns 10,643 shares of the bank’s stock worth $895,000 after buying an additional 130 shares in the last quarter. Alliancebernstein L.P. lifted its position in BOK Financial Corporation by 0.7% in the 1st quarter. Alliancebernstein L.P. now owns 20,352 shares of the bank’s stock worth $1,593,000 after buying an additional 150 shares in the last quarter. Finally, Probity Advisors Inc. lifted its position in BOK Financial Corporation by 1.3% in the 2nd quarter. Probity Advisors Inc. now owns 12,615 shares of the bank’s stock worth $1,061,000 after buying an additional 157 shares in the last quarter. Institutional investors own 31.71% of the company’s stock.
BOK Financial Corporation Company Profile
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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