BOK Financial Corporation (BOKF) Receives “Equal Weight” Rating from Morgan Stanley
BOK Financial Corporation (NASDAQ:BOKF)‘s stock had its “equal weight” rating reissued by equities research analysts at Morgan Stanley in a report released on Wednesday. They presently have a $86.00 price target on the bank’s stock, up from their prior price target of $85.00. Morgan Stanley’s price objective would indicate a potential downside of 2.87% from the company’s current price.
Several other equities analysts have also issued reports on the company. Stephens reissued a “buy” rating and issued a $95.00 price target on shares of BOK Financial Corporation in a research note on Tuesday, June 6th. ValuEngine raised BOK Financial Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. BidaskClub raised BOK Financial Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Hovde Group dropped their price target on BOK Financial Corporation from $97.00 to $94.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 28th. Finally, Zacks Investment Research lowered BOK Financial Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 30th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $90.25.
BOK Financial Corporation (BOKF) traded down 1.42% on Wednesday, reaching $88.60. 144,513 shares of the company’s stock were exchanged. BOK Financial Corporation has a 52 week low of $67.53 and a 52 week high of $90.69. The stock’s 50 day moving average is $82.55 and its 200 day moving average is $82.15. The company has a market cap of $5.80 billion, a price-to-earnings ratio of 19.34 and a beta of 1.01.
BOK Financial Corporation (NASDAQ:BOKF) last announced its earnings results on Wednesday, July 26th. The bank reported $1.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.05. BOK Financial Corporation had a return on equity of 8.87% and a net margin of 18.96%. 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 prior year, the business posted $1.00 earnings per share. On average, equities analysts anticipate that BOK Financial Corporation will post $5.39 earnings per share for the current year.
In other news, EVP Stacy Kymes sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $85.06, for a total transaction of $255,180.00. Following the transaction, the executive vice president now directly owns 29,627 shares of the company’s stock, valued at $2,520,072.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Stephen D. Grossi sold 550 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $81.62, for a total value of $44,891.00. Following the transaction, the executive vice president now directly owns 12,601 shares in the company, valued at $1,028,493.62. The disclosure for this sale can be found here. 62.00% of the stock is owned by corporate insiders.
Several large investors have recently modified their holdings of BOKF. Bank of New York Mellon Corp raised its position in shares of BOK Financial Corporation by 5.4% during the first quarter. Bank of New York Mellon Corp now owns 175,347 shares of the bank’s stock worth $13,725,000 after purchasing an additional 9,052 shares during the period. UBS Asset Management Americas Inc. raised its position in BOK Financial Corporation by 12.9% in the 1st quarter. UBS Asset Management Americas Inc. now owns 8,724 shares of the bank’s stock valued at $683,000 after buying an additional 1,000 shares during the last quarter. Karp Capital Management Corp purchased a new stake in BOK Financial Corporation in the 1st quarter valued at $974,000. Pacer Advisors Inc. raised its position in BOK Financial Corporation by 11.7% in the 1st quarter. Pacer Advisors Inc. now owns 2,686 shares of the bank’s stock valued at $210,000 after buying an additional 282 shares during the last quarter. Finally, Stifel Financial Corp raised its position in BOK Financial Corporation by 4.7% in the 1st quarter. Stifel Financial Corp now owns 4,189 shares of the bank’s stock valued at $329,000 after buying an additional 189 shares during the last quarter. 31.71% of the stock is currently owned by institutional investors.
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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