BOK Financial (BOKF) Upgraded at Zacks Investment Research
BOK Financial (NASDAQ:BOKF) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued on Thursday. The brokerage currently has a $108.00 price objective on the bank’s stock. Zacks Investment Research‘s price target indicates a potential upside of 14.03% from the company’s previous close.
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.”
Other equities analysts have also issued reports about the stock. Morgan Stanley restated an “equal weight” rating and issued a $86.00 price objective (up from $85.00) on shares of BOK Financial in a research report on Wednesday, October 4th. ValuEngine lowered shares of BOK Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. Royal Bank of Canada restated a “hold” rating and issued a $92.00 price objective on shares of BOK Financial in a research report on Friday, October 27th. Finally, Piper Jaffray Companies restated a “hold” rating and issued a $89.00 price objective on shares of BOK Financial in a research report on Thursday, October 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. BOK Financial has an average rating of “Hold” and a consensus target price of $93.75.
BOK Financial (NASDAQ:BOKF) last released its quarterly earnings data on Wednesday, October 25th. The bank reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.05). BOK Financial had a net margin of 19.31% and a return on equity of 9.15%. The firm had revenue of $394.16 million during the quarter, compared to the consensus estimate of $392.05 million. During the same quarter last year, the business posted $1.13 earnings per share. analysts anticipate that BOK Financial will post 5.36 EPS for the current fiscal year.
Institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. lifted its holdings in shares of BOK Financial by 1.5% in the 3rd quarter. Principal Financial Group Inc. now owns 671,875 shares of the bank’s stock worth $59,850,000 after acquiring an additional 9,624 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of BOK Financial by 3.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 189,416 shares of the bank’s stock worth $16,873,000 after acquiring an additional 6,054 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of BOK Financial by 30.1% in the 2nd quarter. Royal Bank of Canada now owns 42,057 shares of the bank’s stock worth $3,539,000 after acquiring an additional 9,739 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of BOK Financial by 13.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 24,428 shares of the bank’s stock worth $2,175,000 after acquiring an additional 2,914 shares during the last quarter. Finally, Dupont Capital Management Corp bought a new stake in shares of BOK Financial in the 3rd quarter worth approximately $962,000. 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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