Zacks Investment Research upgraded shares of BOK Financial (NASDAQ:BOKF) from a hold rating to a strong-buy rating in a research note issued to investors on Thursday, January 11th. The firm currently has $108.00 price target 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.”
Several other analysts also recently issued reports on the stock. Morgan Stanley upped their price target on shares of BOK Financial from $85.00 to $99.00 and gave the company an equal weight rating in a report on Wednesday, December 13th. ValuEngine raised shares of BOK Financial from a hold rating to a buy rating in a report on Thursday, November 30th. Royal Bank of Canada reaffirmed a hold rating and issued a $92.00 price target on shares of BOK Financial in a report on Friday, October 27th. Finally, Piper Jaffray Companies reaffirmed a hold rating and issued a $89.00 price target on shares of BOK Financial in a report on Thursday, October 19th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $93.75.
Shares of BOK Financial (NASDAQ:BOKF) traded up $1.00 on Thursday, reaching $96.70. 96,000 shares of the company’s stock traded hands, compared to its average volume of 131,431. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 1.82. BOK Financial has a one year low of $73.44 and a one year high of $96.96. The firm has a market capitalization of $6,329.67, a price-to-earnings ratio of 20.27, a P/E/G ratio of 2.00 and a beta of 1.00.
BOK Financial (NASDAQ:BOKF) last issued its earnings results on Wednesday, October 25th. The bank reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.36 by ($0.05). BOK Financial had a return on equity of 9.15% and a net margin of 19.31%. The company had revenue of $394.16 million for the quarter, compared to analyst estimates of $392.05 million. During the same quarter in the previous year, the company posted $1.13 earnings per share. sell-side analysts predict that BOK Financial will post 5.36 EPS for the current fiscal year.
A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of BOK Financial by 3.0% in the second quarter. Vanguard Group Inc. now owns 2,496,617 shares of the bank’s stock worth $210,041,000 after acquiring an additional 73,025 shares in the last quarter. 361 Capital LLC acquired a new stake in shares of BOK Financial in the second quarter worth $2,255,000. Chicago Equity Partners LLC increased its position in shares of BOK Financial by 31.3% in the third quarter. Chicago Equity Partners LLC now owns 86,094 shares of the bank’s stock worth $7,669,000 after acquiring an additional 20,520 shares in the last quarter. Prudential Financial Inc. acquired a new stake in shares of BOK Financial in the third quarter worth $1,659,000. Finally, New York State Common Retirement Fund increased its position in shares of BOK Financial by 30.9% in the second quarter. New York State Common Retirement Fund now owns 73,038 shares of the bank’s stock worth $6,145,000 after acquiring an additional 17,237 shares in the last quarter. 31.56% of the stock is currently owned by institutional investors.
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BOK Financial 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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