Zacks Investment Research upgraded shares of BOK Financial (NASDAQ:BOKF) from a hold rating to a strong-buy rating in a research note released on Thursday morning. The brokerage currently has $108.00 target price on the bank’s stock.
According to Zacks, “Shares of BOK Financial have outperformed the industry over the past six months. The company has a decent earnings surprise history. It surpassed the Zacks Consensus Estimate for earnings in two of the trailing four quarters. We believe the diverse revenue mix and favorable geographic footprint will support growth in the upcoming quarters. The company's continuous expansion via acquisitions is also expected to aid top-line growth. Moreover, increasing loan balances and easing margin pressure are positives. However, consistently mounting costs remain a near-term headwind. Also, significant exposure toward brokerage and trading revenues amid challenging trading environment is a major concern.”
A number of other research analysts have also recently commented on BOKF. Royal Bank of Canada reissued a hold rating and issued a $92.00 target price on shares of BOK Financial in a research note on Friday, October 27th. Piper Jaffray Companies reissued a hold rating and issued a $89.00 target price on shares of BOK Financial in a research note on Thursday, October 19th. Morgan Stanley reissued an equal weight rating and issued a $86.00 target price (up previously from $85.00) on shares of BOK Financial in a research note on Wednesday, October 4th. Finally, ValuEngine raised BOK Financial from a hold rating to a buy rating in a research note on Thursday, November 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. BOK Financial currently has an average rating of Hold and an average target price of $93.75.
BOK Financial (NASDAQ BOKF) traded down $0.49 on Thursday, reaching $95.75. The company had a trading volume of 109,200 shares, compared to its average volume of 138,344. The company has a market capitalization of $6,267.49, a PE ratio of 20.07, a PEG ratio of 1.98 and a beta of 1.00. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 1.82. BOK Financial has a 1-year low of $73.44 and a 1-year high of $96.75.
BOK Financial (NASDAQ:BOKF) last released its earnings results on Wednesday, October 25th. The bank reported $1.31 EPS for the quarter, missing the Zacks’ consensus estimate of $1.36 by ($0.05). The firm had revenue of $394.16 million during the quarter, compared to the consensus estimate of $392.05 million. BOK Financial had a net margin of 19.31% and a return on equity of 9.15%. During the same period in the prior year, the company earned $1.13 EPS. equities research analysts predict that BOK Financial will post 5.34 EPS for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC purchased a new stake in BOK Financial during the third quarter valued at about $101,000. CIBC Asset Management Inc purchased a new stake in BOK Financial during the third quarter valued at about $201,000. Arthur Zaske & Associates LLC purchased a new stake in BOK Financial during the third quarter valued at about $210,000. BNP Paribas Arbitrage SA boosted its position in BOK Financial by 560.6% during the third quarter. BNP Paribas Arbitrage SA now owns 2,550 shares of the bank’s stock valued at $227,000 after buying an additional 2,164 shares during the period. Finally, D.A. Davidson & CO. boosted its position in BOK Financial by 56.1% during the second quarter. D.A. Davidson & CO. now owns 3,079 shares of the bank’s stock valued at $259,000 after buying an additional 1,106 shares during the period. Institutional investors and hedge funds own 31.56% of the company’s stock.
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About BOK Financial
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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