BOK Financial (NASDAQ:BOKF) Lifted to “Hold” at BidaskClub

BidaskClub upgraded shares of BOK Financial (NASDAQ:BOKF) from a sell rating to a hold rating in a report released on Wednesday, BidAskClub reports.

Other research analysts have also issued reports about the stock. Wedbush upped their target price on shares of BOK Financial from $62.00 to $67.00 and gave the company a neutral rating in a report on Thursday, July 23rd. SunTrust Banks boosted their price target on BOK Financial from $47.00 to $57.00 and gave the company a hold rating in a research report on Tuesday, May 5th. Morgan Stanley raised their target price on shares of BOK Financial from $62.00 to $66.00 and gave the company an equal weight rating in a research note on Monday, June 8th. Finally, ValuEngine cut shares of BOK Financial from a hold rating to a sell rating in a research report on Monday, August 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $66.40.

NASDAQ BOKF traded down $0.73 during trading on Wednesday, reaching $59.91. 948,091 shares of the company’s stock traded hands, compared to its average volume of 315,594. BOK Financial has a 12-month low of $34.57 and a 12-month high of $88.28. The firm has a market cap of $4.29 billion, a price-to-earnings ratio of 11.18 and a beta of 1.60. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.78 and a quick ratio of 0.77. The company’s 50 day simple moving average is $55.03 and its two-hundred day simple moving average is $56.98.

BOK Financial (NASDAQ:BOKF) last issued its quarterly earnings data on Wednesday, July 22nd. The bank reported $0.92 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.12 by ($0.20). The company had revenue of $510.80 million for the quarter, compared to analyst estimates of $449.27 million. BOK Financial had a return on equity of 7.65% and a net margin of 17.26%. Research analysts expect that BOK Financial will post 4.87 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Monday, August 17th will be given a $0.51 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.41%. BOK Financial’s dividend payout ratio is currently 28.49%.

In related news, CEO Steven G. Bradshaw sold 10,000 shares of the company’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $65.00, for a total value of $650,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 55.70% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Marshall Wace North America L.P. acquired a new stake in BOK Financial during the 1st quarter valued at $50,000. Guggenheim Capital LLC raised its holdings in shares of BOK Financial by 41.8% during the 4th quarter. Guggenheim Capital LLC now owns 71,743 shares of the bank’s stock worth $6,270,000 after buying an additional 21,132 shares in the last quarter. Norges Bank bought a new stake in shares of BOK Financial during the 4th quarter worth $29,572,000. Nuveen Asset Management LLC boosted its stake in BOK Financial by 0.3% in the fourth quarter. Nuveen Asset Management LLC now owns 79,592 shares of the bank’s stock valued at $6,956,000 after buying an additional 266 shares in the last quarter. Finally, Arden Trust Co bought a new position in BOK Financial in the first quarter valued at about $35,000. 42.32% of the stock is currently owned by institutional investors and hedge funds.

About BOK Financial

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.

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Analyst Recommendations for BOK Financial (NASDAQ:BOKF)

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