BOK Financial Corp. (BOKF) Downgraded by Zacks Investment Research
BOK Financial Corp. (NASDAQ:BOKF) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note 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.”
BOKF has been the topic of a number of other reports. Raymond James Financial Inc. reaffirmed a “market perform” rating on shares of BOK Financial Corp. in a report on Thursday, July 28th. Royal Bank Of Canada upped their price objective on BOK Financial Corp. from $61.00 to $68.00 and gave the company a “sector perform” rating in a report on Thursday, July 28th. SunTrust Banks Inc. lowered BOK Financial Corp. from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $80.00 to $62.00 in a report on Thursday, August 25th. TheStreet upgraded BOK Financial Corp. from a “hold” rating to a “buy” rating in a research report on Monday, August 22nd. Finally, Keefe, Bruyette & Woods upped their target price on BOK Financial Corp. from $58.00 to $69.00 and gave the company a “market perform” rating in a research report on Thursday, July 28th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $65.75.
BOK Financial Corp. (NASDAQ:BOKF) traded up 0.09% during mid-day trading on Wednesday, reaching $67.14. 24,989 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $67.75 and a 200-day moving average price of $62.19. The stock has a market cap of $4.42 billion, a P/E ratio of 18.52 and a beta of 0.86. 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 issued its quarterly earnings data on Wednesday, July 27th. The company reported $1.00 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 period last year, the business posted $1.15 EPS. On average, analysts forecast that BOK Financial Corp. will post $3.87 earnings per share for the current year.
In other BOK Financial Corp. news, Director C Fred Ball, Jr. sold 937 shares of the stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $67.20, for a total value of $62,966.40. Following the completion of the transaction, the director now directly owns 6,305 shares in the company, valued at $423,696. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Scott Grauer sold 1,000 shares of the stock in a transaction dated 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 owns 26,639 shares of the company’s stock, valued at $1,789,075.24. The disclosure for this sale can be found here. Corporate insiders own 61.30% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Legal & General Group Plc increased 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 in the last quarter. Pacer Advisors Inc. purchased a new position in BOK Financial Corp. during the second quarter valued at approximately $131,000. Amalgamated Bank purchased a new position in BOK Financial Corp. during the second quarter valued at approximately $206,000. BlackRock Inc. increased its position in BOK Financial Corp. by 3,081.0% in the first quarter. BlackRock Inc. now owns 3,849 shares of the company’s stock valued at $211,000 after buying an additional 3,728 shares in the last quarter. Finally, Rafferty Asset Management LLC purchased a new position in BOK Financial Corp. during the first quarter valued at approximately $221,000. Hedge funds and other institutional investors own 36.67% of the company’s stock.
About BOK Financial Corp.
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.
Receive News & Stock Ratings for BOK Financial Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BOK Financial Corp. and related stocks with our FREE daily email newsletter.