BOK Financial Corporation (NASDAQ:BOKF) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Monday.
According to Zacks, “Shares of BOK Financial have underperformed the industry in the last 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. BOK Financial’s third-quarter 2017 results reflected increase in expenses, higher revenues and loan growth. 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. 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 also recently issued research reports about the stock. Stephens set a $95.00 price target on shares of BOK Financial Corporation and gave the company a “buy” rating in a report on Wednesday, July 26th. Morgan Stanley reissued an “equal weight” rating and set a $86.00 price target (up previously from $85.00) on shares of BOK Financial Corporation in a report on Wednesday, October 4th. BidaskClub downgraded shares of BOK Financial Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 31st. ValuEngine downgraded shares of BOK Financial Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $92.00 price target on shares of BOK Financial Corporation in a report on Friday, October 27th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. BOK Financial Corporation has an average rating of “Hold” and an average price target of $90.50.
Shares of BOK Financial Corporation (NASDAQ:BOKF) traded down $0.21 during trading on Monday, reaching $86.61. 16,693 shares of the company’s stock were exchanged, compared to its average volume of 87,255. BOK Financial Corporation has a 52 week low of $68.72 and a 52 week high of $92.08. The stock has a market cap of $5,682.96, a P/E ratio of 18.20, a P/E/G ratio of 2.02 and a beta of 1.01. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.90 and a current ratio of 0.91.
BOK Financial Corporation (NASDAQ:BOKF) last announced its quarterly earnings results on Wednesday, October 25th. The bank reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.36 by ($0.05). BOK Financial Corporation had a net margin of 19.31% and a return on equity of 9.15%. The firm had revenue of $394.16 million for the quarter, compared to analyst estimates of $392.05 million. During the same period last year, the firm posted $1.13 EPS. equities analysts anticipate that BOK Financial Corporation will post 5.37 EPS for the current year.
In related news, EVP Stephen D. Grossi sold 550 shares of BOK Financial Corporation stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $81.62, for a total transaction of $44,891.00. Following the sale, the executive vice president now directly owns 12,601 shares in the company, valued at $1,028,493.62. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 62.00% of the stock is owned by insiders.
A number of institutional investors have recently modified their holdings of BOKF. UBS Asset Management Americas Inc. raised its position in BOK Financial Corporation by 12.9% in the first quarter. UBS Asset Management Americas Inc. now owns 8,724 shares of the bank’s stock worth $683,000 after acquiring an additional 1,000 shares in the last quarter. Alliancebernstein L.P. raised its position in BOK Financial Corporation by 0.7% in the first quarter. Alliancebernstein L.P. now owns 20,352 shares of the bank’s stock worth $1,593,000 after acquiring an additional 150 shares in the last quarter. Wellington Management Group LLP raised its position in BOK Financial Corporation by 10.6% in the first quarter. Wellington Management Group LLP now owns 5,296 shares of the bank’s stock worth $415,000 after acquiring an additional 506 shares in the last quarter. Teachers Advisors LLC raised its position in BOK Financial Corporation by 5.8% in the first quarter. Teachers Advisors LLC now owns 28,911 shares of the bank’s stock worth $2,263,000 after acquiring an additional 1,582 shares in the last quarter. Finally, Legal & General Group Plc raised its position in BOK Financial Corporation by 181.8% in the first quarter. Legal & General Group Plc now owns 8,690 shares of the bank’s stock worth $681,000 after acquiring an additional 5,606 shares in the last quarter. Hedge funds and other institutional investors own 31.65% 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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