BOK Financial Corp. (NASDAQ:BOKF) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday.
According to Zacks, “BOK Financial continues to face margin pressure due to the low rate environment. We do not expect significant improvement in margin amid the slow rise in rates. Further, mounting costs will likely hurt bottom-line expansion in the near-term. Notably, management expects to incur $6–$8 million of pretax consolidation-related charges, after closure of the deal to acquire MBT Bancshares. Also, market volatility may cause variations in transaction volumes for brokerage and trading business, thereby hurting revenue generated from them. However, the company continues to benefit from strong capital position, consistent loan growth and improving credit quality.”
Other research analysts also recently issued research reports about the company. RBC Capital Markets reiterated a “sector perform” rating and set a $68.00 target price (up previously from $61.00) on shares of BOK Financial Corp. in a report on Thursday, July 28th. Citigroup Inc. downgraded BOK Financial Corp. to a “market perform” rating in a report on Thursday, July 28th. Raymond James Financial Inc. reiterated a “market perform” rating on shares of BOK Financial Corp. in a report on Thursday, July 28th. Keefe, Bruyette & Woods upped their target price on BOK Financial Corp. from $58.00 to $69.00 and gave the stock a “market perform” rating in a report on Thursday, July 28th. Finally, Royal Bank Of Canada upped their target price on BOK Financial Corp. from $61.00 to $68.00 and gave the stock a “sector perform” rating in a report on Thursday, July 28th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $65.75.
BOK Financial Corp. (NASDAQ:BOKF) traded up 0.09% during trading on Wednesday, reaching $67.14. The company’s stock had a trading volume of 24,989 shares. The company has a market cap of $4.42 billion, a PE ratio of 18.52 and a beta of 0.86. The stock has a 50-day moving average price of $67.75 and a 200 day moving average price of $62.19. BOK Financial Corp. has a 52-week low of $44.13 and a 52-week high of $75.18.
BOK Financial Corp. (NASDAQ:BOKF) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.01. BOK Financial Corp. had a return on equity of 7.23% and a net margin of 16.55%. During the same quarter in the prior year, the firm posted $1.15 EPS. On average, analysts expect that BOK Financial Corp. will post $3.87 EPS for the current year.
In related news, Director C Fred Ball, Jr. sold 937 shares of the company’s stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $67.20, for a total value of $62,966.40. Following the transaction, the director now directly owns 6,305 shares of the company’s stock, valued at approximately $423,696. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Scott Grauer sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, August 19th. The shares were sold at an average price of $67.16, for a total value of $67,160.00. Following the completion of the transaction, the executive vice president now directly owns 26,639 shares in the company, valued at $1,789,075.24. The disclosure for this sale can be found here. 61.30% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc boosted its position in BOK Financial Corp. by 3.1% in the first quarter. Legal & General Group Plc now owns 2,373 shares of the company’s stock valued at $130,000 after buying an additional 72 shares during the period. Mariner Wealth Advisors LLC boosted its position in BOK Financial Corp. by 300.0% in the first quarter. Mariner Wealth Advisors LLC now owns 20,023 shares of the company’s stock valued at $1,094,000 after buying an additional 15,017 shares during the period. Rafferty Asset Management LLC acquired a new position in BOK Financial Corp. during the first quarter valued at about $221,000. State Street Corp boosted its position in BOK Financial Corp. by 4.8% in the first quarter. State Street Corp now owns 639,376 shares of the company’s stock valued at $34,925,000 after buying an additional 29,376 shares during the period. Finally, Zebra Capital Management LLC acquired a new position in BOK Financial Corp. during the first quarter valued at about $604,000. 36.67% of the stock is currently owned by institutional investors and hedge funds.
BOK Financial Corp. Company Profile
BOK Financial Corporation is a financial holding company. The Company offers full service banking in Oklahoma, Texas, New Mexico, Colorado, Arizona and Kansas/Missouri. Its segments include Commercial Banking, Consumer Banking, Wealth Management, and Funds Management and Other. The Commercial Banking segment includes lending, treasury and cash management services, and customer risk management products for small businesses, middle market and commercial customers.
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