Zacks Investment Research downgraded shares of BOK Financial Corporation (NASDAQ:BOKF) from a buy rating to a hold rating in a report issued on Tuesday morning.
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.”
A number of other equities research analysts have also recently weighed in on BOKF. Keefe, Bruyette & Woods set a $90.00 price objective on shares of BOK Financial Corporation and gave the company a hold rating in a research note on Tuesday, April 4th. Stephens upgraded shares of BOK Financial Corporation from an equal weight rating to an overweight rating in a research note on Wednesday, April 26th. Royal Bank Of Canada restated a hold rating on shares of BOK Financial Corporation in a research note on Thursday, April 27th. Wedbush lifted their price objective on shares of BOK Financial Corporation from $79.00 to $83.00 and gave the company a neutral rating in a research note on Thursday, April 27th. Finally, Morgan Stanley restated an equal weight rating and set a $81.00 price objective (up from $80.00) on shares of BOK Financial Corporation in a research note on Saturday, June 3rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $86.67.
Shares of BOK Financial Corporation (BOKF) traded down 0.13% during trading on Tuesday, hitting $85.24. 63,843 shares of the stock were exchanged. The stock has a 50-day moving average of $84.58 and a 200 day moving average of $82.03. The stock has a market cap of $5.58 billion, a P/E ratio of 18.61 and a beta of 0.99. BOK Financial Corporation has a 12-month low of $63.43 and a 12-month high of $88.80.
BOK Financial Corporation (NASDAQ:BOKF) last issued its quarterly earnings data on Wednesday, July 26th. The bank reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $387.46 million for the quarter, compared to analysts’ expectations of $384.52 million. During the same period in the previous year, the business earned $1.00 earnings per share. Equities analysts predict that BOK Financial Corporation will post $5.39 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Friday, August 11th will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date is Wednesday, August 9th. BOK Financial Corporation’s dividend payout ratio is currently 38.34%.
In other BOK Financial Corporation news, EVP Donald T. Parker sold 5,312 shares of the business’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $82.01, for a total value of $435,637.12. Following the sale, the executive vice president now directly owns 43,510 shares in the company, valued at $3,568,255.10. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Scott Grauer sold 1,750 shares of the business’s stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $80.96, for a total transaction of $141,680.00. Following the completion of the sale, the executive vice president now owns 23,935 shares in the company, valued at $1,937,777.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,712 shares of company stock worth $1,465,535. 62.00% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of BOKF. Vanguard Group Inc. boosted its stake 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 valued at $189,696,000 after buying an additional 337,132 shares during the period. Aristotle Capital Management LLC boosted its stake 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 valued at $147,109,000 after buying an additional 103,196 shares during the period. Neuberger Berman Group LLC boosted its stake 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 valued at $141,640,000 after buying an additional 87,853 shares during the period. State Street Corp boosted its stake in shares of BOK Financial Corporation by 3.1% in the first quarter. State Street Corp now owns 644,977 shares of the bank’s stock valued at $50,480,000 after buying an additional 19,624 shares during the period. Finally, Royce & Associates LP boosted its stake in shares of BOK Financial Corporation by 3.4% in the first quarter. Royce & Associates LP now owns 414,293 shares of the bank’s stock valued at $32,427,000 after buying an additional 13,811 shares during the period. Hedge funds and other institutional investors own 32.74% 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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