Hovde Group Cuts BOK Financial (NASDAQ:BOKF) Price Target to $110.00

BOK Financial (NASDAQ:BOKF) had its price target lowered by Hovde Group from $122.00 to $110.00 in a research note published on Wednesday, MarketBeat reports. Hovde Group currently has an outperform rating on the bank’s stock.

Other equities analysts have also recently issued research reports about the stock. Stephens reiterated an “equal weight” rating and issued a $124.00 target price on shares of BOK Financial in a research report on Tuesday. StockNews.com lowered BOK Financial from a “buy” rating to a “hold” rating in a research report on Monday, March 17th. Royal Bank of Canada increased their price objective on BOK Financial from $115.00 to $120.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 22nd. Wells Fargo & Company decreased their target price on shares of BOK Financial from $120.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 9th. Finally, Barclays cut their price target on shares of BOK Financial from $115.00 to $110.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $111.60.

BOK Financial Stock Performance

Shares of BOKF opened at $92.00 on Wednesday. BOK Financial has a 12-month low of $85.08 and a 12-month high of $121.58. The company has a current ratio of 0.75, a quick ratio of 0.79 and a debt-to-equity ratio of 0.57. The company has a market cap of $5.91 billion, a PE ratio of 11.32 and a beta of 0.93. The stock has a 50-day moving average price of $99.05 and a 200-day moving average price of $107.36.

BOK Financial (NASDAQ:BOKF) last posted its quarterly earnings data on Monday, April 21st. The bank reported $1.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.15). BOK Financial had a return on equity of 9.86% and a net margin of 15.32%. The company had revenue of $500.37 million for the quarter, compared to the consensus estimate of $520.86 million. As a group, equities analysts forecast that BOK Financial will post 8.83 earnings per share for the current fiscal year.

BOK Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were issued a dividend of $0.57 per share. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $2.28 annualized dividend and a dividend yield of 2.48%. BOK Financial’s payout ratio is 28.04%.

Hedge Funds Weigh In On BOK Financial

A number of institutional investors and hedge funds have recently made changes to their positions in BOKF. Tidal Investments LLC boosted its stake in BOK Financial by 1.7% in the 3rd quarter. Tidal Investments LLC now owns 8,919 shares of the bank’s stock worth $933,000 after purchasing an additional 147 shares during the period. USA Financial Formulas purchased a new position in BOK Financial during the fourth quarter worth $319,000. Merit Financial Group LLC bought a new position in BOK Financial during the 4th quarter valued at about $256,000. SG Americas Securities LLC lifted its stake in shares of BOK Financial by 433.0% during the 4th quarter. SG Americas Securities LLC now owns 9,216 shares of the bank’s stock worth $981,000 after acquiring an additional 7,487 shares during the last quarter. Finally, KBC Group NV raised its stake in shares of BOK Financial by 32.7% during the fourth quarter. KBC Group NV now owns 1,201 shares of the bank’s stock valued at $128,000 after acquiring an additional 296 shares in the last quarter. Hedge funds and other institutional investors own 34.44% of the company’s stock.

BOK Financial Company Profile

BOK Financial Corporation operates as the financial holding company for BOKF, NA that provides various financial products and services in Oklahoma, Texas, New Mexico, Northwest Arkansas, Colorado, Arizona, and Kansas/Missouri. It operates through three segments: Commercial Banking, Consumer Banking, and Wealth Management.