BOK Financial Corporation (NASDAQ:BOKF) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday, August 1st.
According to Zacks, “BOK Financial’s shares have outperformed the industry in the past one year. The company’s second-quarter 2017 earnings surpassed the Zacks Consensus Estimate. Higher net interest income, nil provisions and elevated loan balances were the tailwinds. 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. Moreover, the Fed rate hikes are likely to ease margin pressure further. Though consistently mounting costs remain near-term headwind, the approval of Financial Choice Act will likely support the company’s profitability.”
Several other equities research analysts have also recently weighed in on the stock. BidaskClub cut shares of BOK Financial Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Stephens set a $95.00 price target on shares of BOK Financial Corporation and gave the stock a “buy” rating in a research report on Wednesday, July 26th. ValuEngine cut shares of BOK Financial Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. 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 Friday, July 14th. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $90.00 price target on shares of BOK Financial Corporation in a research report on Friday, July 7th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $86.67.
BOK Financial Corporation (BOKF) opened at 79.46 on Tuesday. The company has a market cap of $5.20 billion, a price-to-earnings ratio of 17.35 and a beta of 0.99. The company’s 50 day moving average is $84.30 and its 200 day moving average is $82.05. BOK Financial Corporation has a 12-month low of $65.36 and a 12-month high of $88.80.
BOK Financial Corporation (NASDAQ:BOKF) last announced its quarterly earnings results on Wednesday, July 26th. The bank reported $1.35 earnings per share for the quarter, topping 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 company had revenue of $387.46 million for the quarter, compared to analysts’ expectations of $384.52 million. During the same quarter in the previous year, the business posted $1.00 earnings per share. Analysts forecast that BOK Financial Corporation will post $5.39 earnings per share for the current fiscal year.
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In other news, EVP Stacy Kymes sold 3,000 shares of the company’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $85.06, for a total value of $255,180.00. Following the transaction, the executive vice president now directly owns 29,627 shares in the company, valued at $2,520,072.62. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Stephen D. Grossi sold 550 shares of the company’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $81.62, for a total transaction of $44,891.00. Following the completion of the transaction, the executive vice president now owns 12,601 shares in the company, valued at $1,028,493.62. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,300 shares of company stock worth $441,751. Company insiders own 62.00% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC raised its stake in BOK Financial Corporation by 45.4% in the first quarter. SG Americas Securities LLC now owns 2,557 shares of the bank’s stock worth $200,000 after buying an additional 798 shares during the period. Pacer Advisors Inc. raised its stake in BOK Financial Corporation by 11.7% in the first quarter. Pacer Advisors Inc. now owns 2,686 shares of the bank’s stock worth $210,000 after buying an additional 282 shares during the period. D.A. Davidson & CO. raised its stake in BOK Financial Corporation by 56.1% in the second quarter. D.A. Davidson & CO. now owns 3,079 shares of the bank’s stock worth $259,000 after buying an additional 1,106 shares during the period. Laurion Capital Management LP acquired a new stake in BOK Financial Corporation during the first quarter worth $248,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in BOK Financial Corporation during the second quarter worth $293,000. Hedge funds and other institutional investors own 32.51% 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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