BOK Financial (NASDAQ:BOKF) Earns Market Perform Rating from Analysts at Hovde Group

Key Points

• Hovde Group initiated coverage of BOK Financial with a “market perform” rating and a $143 price target, implying 5.76% upside. The broader analyst consensus remains “Hold,” with an average target price of $141.64.
• BOK Financial shares opened at $135.21, while the bank’s latest quarterly results showed revenue of $589.4 million—above expectations—but earnings per share of $2.59, below the $2.68 consensus estimate.
• Insiders sold 5,274 shares worth approximately $765,067 over the past 90 days, while institutional investors own 34.44% of the company and have made several notable purchases or stake increases.

Hovde Group initiated coverage on shares of BOK Financial (NASDAQ:BOKF - Get Free Report) in a research note issued to investors on Friday, Marketbeat.com reports. The brokerage set a "market perform" rating and a $143.00 price target on the bank's stock. Hovde Group's price objective would indicate a potential upside of 5.76% from the company's current price.

Several other brokerages have also recently weighed in on BOKF. Weiss Ratings restated a "buy (b)" rating on shares of BOK Financial in a report on Friday, September 4th. DA Davidson reaffirmed a "neutral" rating and issued a $150.00 price target on shares of BOK Financial in a report on Thursday, September 3rd. Barclays lifted their price objective on BOK Financial from $150.00 to $155.00 and gave the stock an "equal weight" rating in a research report on Monday, August 3rd. Wells Fargo & Company boosted their price objective on BOK Financial from $138.00 to $148.00 and gave the stock an "equal weight" rating in a research note on Monday, August 10th. Finally, Raymond James Financial cut BOK Financial from an "outperform" rating to a "market perform" rating in a report on Wednesday, July 1st. Two investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $141.64.

BOK Financial Trading Up 0.5%

Shares of BOKF opened at $135.21 on Friday. The firm's fifty day moving average is $140.32 and its two-hundred day moving average is $134.04. The stock has a market cap of $8.22 billion, a PE ratio of 12.74 and a beta of 0.79. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.57. BOK Financial has a 52-week low of $102.72 and a 52-week high of $146.84.

BOK Financial (NASDAQ:BOKF - Get Free Report) last posted its quarterly earnings results on Monday, July 20th. The bank reported $2.59 earnings per share for the quarter, missing the consensus estimate of $2.68 by ($0.09). The business had revenue of $589.40 million during the quarter, compared to analysts' expectations of $568.08 million. BOK Financial had a return on equity of 10.09% and a net margin of 18.97%.The business's quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.19 earnings per share. Research analysts forecast that BOK Financial will post 10.32 earnings per share for the current fiscal year.

Insider Activity

In other BOK Financial news, Director Steven Bangert sold 1,250 shares of the company's stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $143.96, for a total value of $179,950.00. Following the transaction, the director owned 31,710 shares of the company's stock, valued at $4,564,971.60. This represents a 3.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Brad Vincent sold 4,015 shares of the stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $145.42, for a total transaction of $583,861.30. Following the transaction, the executive vice president directly owned 6,031 shares of the company's stock, valued at approximately $877,028.02. This trade represents a 39.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 5,274 shares of company stock worth $765,067. 63.53% of the stock is owned by insiders.

Institutional Trading of BOK Financial

Institutional investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System increased its stake in BOK Financial by 10,240.3% during the 2nd quarter. California State Teachers Retirement System now owns 3,199,795 shares of the bank's stock worth $444,388,000 after buying an additional 3,168,850 shares during the period. Cibc World Markets Corp purchased a new position in BOK Financial in the fourth quarter valued at $130,994,000. Freestone Grove Partners LP increased its holdings in shares of BOK Financial by 407.0% in the 3rd quarter. Freestone Grove Partners LP now owns 363,610 shares of the bank's stock valued at $40,521,000 after acquiring an additional 291,894 shares during the last quarter. Norges Bank acquired a new stake in shares of BOK Financial during the 4th quarter worth about $32,755,000. Finally, Cibc World Market Inc. raised its position in shares of BOK Financial by 39.0% during the 4th quarter. Cibc World Market Inc. now owns 908,800 shares of the bank's stock worth $107,656,000 after acquiring an additional 254,800 shares in the last quarter. Institutional investors and hedge funds own 34.44% of the company's stock.

About BOK Financial

BOK Financial Corporation NASDAQ: BOKF is a financial services holding company headquartered in Tulsa, Oklahoma. Through its principal banking subsidiary, BOKF, NA, the company provides banking, investment and wealth management services to businesses, institutions and individual customers.

The company operates regional banking brands including Bank of Oklahoma, Bank of Texas and Bank of Albuquerque. Its services include commercial and consumer banking, commercial real estate lending, treasury and cash management, mortgage lending and servicing, investment banking, securities brokerage, trust services and investment management.

BOK Financial primarily serves customers in Oklahoma, Texas, New Mexico, Colorado, Kansas, Missouri and Arkansas through banking offices and specialized financial services operations.

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