Zacks Investment Research Downgrades BOK Financial (BOKF) to Hold

BOK Financial (NASDAQ:BOKF) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

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 out of the trailing four quarters. The company’s fourth-quarter 2017 earnings reflected decreased loans, rise in revenues and decline in expenses. 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.”

A number of other research analysts have also weighed in on BOKF. BidaskClub raised BOK Financial from a “hold” rating to a “buy” rating in a report on Tuesday. Hovde Group lowered BOK Financial from an “outperform” rating to a “market perform” rating and set a $103.00 price objective on the stock. in a report on Thursday, January 25th. Morgan Stanley upped their price objective on BOK Financial from $99.00 to $101.00 and gave the stock an “equal weight” rating in a report on Friday, January 26th. DA Davidson reaffirmed a “hold” rating and set a $103.00 price objective on shares of BOK Financial in a report on Thursday, January 25th. Finally, Royal Bank of Canada upped their price objective on BOK Financial to $100.00 and gave the stock a “sector perform” rating in a report on Thursday, January 25th. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $97.89.

Shares of BOK Financial (BOKF) traded down $0.44 during mid-day trading on Tuesday, reaching $93.39. The company had a trading volume of 139,415 shares, compared to its average volume of 140,587. BOK Financial has a 52-week low of $73.44 and a 52-week high of $98.80. The firm has a market capitalization of $6,051.65, a price-to-earnings ratio of 18.24, a PEG ratio of 1.80 and a beta of 1.01. The company has a debt-to-equity ratio of 1.82, a current ratio of 0.91 and a quick ratio of 0.90.

BOK Financial (NASDAQ:BOKF) last announced its quarterly earnings data on Wednesday, January 24th. The bank reported $1.29 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.34 by ($0.05). BOK Financial had a return on equity of 10.05% and a net margin of 20.14%. The business had revenue of $383.70 million for the quarter, compared to analyst estimates of $391.73 million. During the same period in the prior year, the company earned $1.09 EPS. equities research analysts anticipate that BOK Financial will post 6.42 earnings per share for the current year.

Large investors have recently modified their holdings of the company. Bank of New York Mellon Corp lifted its position in shares of BOK Financial by 3.3% in the third quarter. Bank of New York Mellon Corp now owns 189,416 shares of the bank’s stock valued at $16,873,000 after acquiring an additional 6,054 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of BOK Financial by 1.5% in the third quarter. Principal Financial Group Inc. now owns 671,875 shares of the bank’s stock valued at $59,850,000 after acquiring an additional 9,624 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of BOK Financial by 13.5% in the third quarter. Envestnet Asset Management Inc. now owns 24,428 shares of the bank’s stock valued at $2,175,000 after acquiring an additional 2,914 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of BOK Financial by 15.8% in the third quarter. Public Employees Retirement System of Ohio now owns 12,144 shares of the bank’s stock valued at $1,082,000 after acquiring an additional 1,659 shares in the last quarter. Finally, Royal Bank of Canada lifted its position in shares of BOK Financial by 30.1% in the second quarter. Royal Bank of Canada now owns 42,057 shares of the bank’s stock valued at $3,539,000 after acquiring an additional 9,739 shares in the last quarter. Institutional investors and hedge funds own 32.68% of the company’s stock.

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BOK Financial 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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