Jefferies Financial Group Forecasts Strong Price Appreciation for BOK Financial (NASDAQ:BOKF) Stock

Key Points

• Jefferies Financial Group has increased its price target for BOK Financial from $110.00 to $120.00, predicting a potential upside of 7.70% from the stock's previous close.
• Current analyst ratings reflect a mixed outlook, with three ratings as "Buy," eight as "Hold," and one downgrade to "Sell," leading to an average consensus price target of $113.83.
• BOK Financial's quarterly earnings surpassed expectations with an EPS of $2.19, exceeding the consensus estimate of $1.98, indicating strong financial performance.

BOK Financial (NASDAQ:BOKF - Get Free Report) had its price objective increased by equities research analysts at Jefferies Financial Group from $110.00 to $120.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a "hold" rating on the bank's stock. Jefferies Financial Group's target price suggests a potential upside of 6.64% from the stock's previous close.

A number of other research firms have also recently commented on BOKF. Barclays lifted their price target on shares of BOK Financial from $110.00 to $115.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 8th. Wall Street Zen cut shares of BOK Financial from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Citigroup upped their target price on shares of BOK Financial from $97.00 to $100.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. Royal Bank Of Canada upped their target price on shares of BOK Financial from $104.00 to $110.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 23rd. Finally, DA Davidson upped their price target on shares of BOK Financial from $114.00 to $120.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Three analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $113.83.

BOK Financial Stock Down 0.3%

BOKF stock traded down $0.29 during mid-day trading on Wednesday, reaching $112.53. 67,086 shares of the company traded hands, compared to its average volume of 192,542. BOK Financial has a fifty-two week low of $85.07 and a fifty-two week high of $121.58. The firm's 50 day moving average price is $105.20 and its 200 day moving average price is $99.75. The stock has a market cap of $7.16 billion, a price-to-earnings ratio of 13.48 and a beta of 0.91. The company has a quick ratio of 0.77, a current ratio of 0.78 and a debt-to-equity ratio of 0.70.

BOK Financial (NASDAQ:BOKF - Get Free Report) last announced its earnings results on Monday, July 21st. The bank reported $2.19 earnings per share for the quarter, topping analysts' consensus estimates of $1.98 by $0.21. BOK Financial had a return on equity of 9.39% and a net margin of 15.80%.The firm had revenue of $525.50 million for the quarter, compared to the consensus estimate of $521.80 million. During the same quarter in the previous year, the business earned $2.54 EPS. As a group, equities research analysts predict that BOK Financial will post 8.83 EPS for the current fiscal year.

Institutional Investors Weigh In On BOK Financial

A number of institutional investors have recently made changes to their positions in BOKF. Norges Bank purchased a new stake in BOK Financial in the second quarter worth approximately $24,764,000. First Trust Advisors LP raised its position in shares of BOK Financial by 94.8% during the 2nd quarter. First Trust Advisors LP now owns 377,391 shares of the bank's stock valued at $36,845,000 after purchasing an additional 183,668 shares during the period. AQR Capital Management LLC raised its position in shares of BOK Financial by 39.8% during the 1st quarter. AQR Capital Management LLC now owns 579,732 shares of the bank's stock valued at $59,446,000 after purchasing an additional 165,184 shares during the period. Qube Research & Technologies Ltd raised its position in shares of BOK Financial by 193.7% during the 2nd quarter. Qube Research & Technologies Ltd now owns 226,230 shares of the bank's stock valued at $22,087,000 after purchasing an additional 149,201 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of BOK Financial by 3.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,463,151 shares of the bank's stock valued at $256,531,000 after purchasing an additional 90,948 shares during the period. Hedge funds and other institutional investors own 34.44% of the company's stock.

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.