BOK Financial Corporation (NASDAQ:BOKF) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday, June 30th.
According to Zacks, “BOK Financial’s shares have outperformed the Zacks categorized Southwest Banks industry in the past one year. The continued growth in loan balances indicates an efficient organic growth strategy. Further, its diverse revenue mix and favorable geographic footprint should support growth in the upcoming quarters. We remain encouraged by the company's continuous expansion via acquisitions that aids top-line growth. Moreover, the Fed rate hikes are likely to ease margin pressure further. Also, the approval of Financial Choice Act shall support the company’s profitability. However, consistently mounting costs remain near-term headwinds.”
Several other equities research analysts also recently issued reports on BOKF. BidaskClub upgraded BOK Financial Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Royal Bank Of Canada reiterated a “hold” rating and set a $90.00 price target on shares of BOK Financial Corporation in a report on Friday, June 2nd. Stephens upgraded BOK Financial Corporation from an “equal weight” rating to an “overweight” rating in a report on Wednesday, April 26th. TheStreet upgraded BOK Financial Corporation from a “c+” rating to a “b” rating in a report on Monday, March 20th. Finally, Hovde Group cut their price objective on BOK Financial Corporation from $97.00 to $94.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 28th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $86.44.
Shares of BOK Financial Corporation (NASDAQ BOKF) traded down 0.68% during mid-day trading on Friday, reaching $85.09. 77,883 shares of the company traded hands. The stock’s 50 day moving average is $84.58 and its 200 day moving average is $82.01. BOK Financial Corporation has a 52-week low of $62.76 and a 52-week high of $88.80. The stock has a market capitalization of $5.57 billion, a PE ratio of 18.59 and a beta of 0.99.
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 the Thomson Reuters’ consensus estimate of $1.30 by $0.05. BOK Financial Corporation had a return on equity of 8.93% and a net margin of 18.96%. The firm had revenue of $387.46 million during the quarter, compared to the consensus estimate of $384.52 million. During the same quarter in the previous year, the company posted $1.00 earnings per share. On average, analysts anticipate that BOK Financial Corporation will post $5.31 earnings per share for the current year.
In related news, EVP Donald T. Parker sold 7,650 shares of the business’s stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $82.75, for a total transaction of $633,037.50. Following the sale, the executive vice president now directly owns 43,610 shares in the company, valued at approximately $3,608,727.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Stacy Kymes sold 3,000 shares of the business’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $85.06, for a total value of $255,180.00. Following the sale, the executive vice president now owns 29,627 shares in the company, valued at $2,520,072.62. The disclosure for this sale can be found here. Insiders have sold a total of 17,712 shares of company stock worth $1,465,535 in the last ninety days. Insiders own 62.00% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of BOK Financial Corporation by 16.2% in the first quarter. Vanguard Group Inc. now owns 2,423,592 shares of the bank’s stock worth $189,696,000 after buying an additional 337,132 shares in the last quarter. Norges Bank acquired a new position in shares of BOK Financial Corporation during the fourth quarter worth $17,717,000. Aristotle Capital Management LLC raised its position in shares of BOK Financial Corporation by 5.8% in the first quarter. Aristotle Capital Management LLC now owns 1,879,501 shares of the bank’s stock worth $147,109,000 after buying an additional 103,196 shares in the last quarter. Neuberger Berman Group LLC raised its position in shares of BOK Financial Corporation by 5.1% in the first quarter. Neuberger Berman Group LLC now owns 1,809,638 shares of the bank’s stock worth $141,640,000 after buying an additional 87,853 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in shares of BOK Financial Corporation during the first quarter valued at approximately $6,586,000. Institutional investors and hedge funds own 32.81% 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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