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 investment analysts at Jefferies Financial Group from $110.00 to $120.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a "hold" rating on the bank's stock. Jefferies Financial Group's target price suggests a potential upside of 7.70% from the stock's previous close.

A number of other brokerages also recently issued reports on BOKF. Barclays lifted their price objective on shares of BOK Financial from $110.00 to $115.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 8th. DA Davidson increased their price objective 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. Royal Bank Of Canada upped their price target on shares of BOK Financial from $104.00 to $110.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 23rd. Wall Street Zen downgraded shares of BOK Financial from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Finally, Wells Fargo & Company set a $110.00 price objective on shares of BOK Financial and gave the company an "equal weight" rating in a report on Monday, July 28th. Three equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, BOK Financial currently has an average rating of "Hold" and a consensus price target of $113.83.

BOK Financial Price Performance

Shares of BOKF opened at $111.42 on Wednesday. The company has a 50 day moving average price of $104.22 and a 200-day moving average price of $99.78. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.77 and a current ratio of 0.78. The stock has a market capitalization of $7.09 billion, a PE ratio of 13.34 and a beta of 0.91. BOK Financial has a fifty-two week low of $85.07 and a fifty-two week high of $121.58.

BOK Financial (NASDAQ:BOKF - Get Free Report) last released its quarterly earnings results on Monday, July 21st. The bank reported $2.19 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $521.80 million. During the same period in the previous year, the company posted $2.54 EPS. Equities analysts predict that BOK Financial will post 8.83 earnings per share for the current fiscal year.

Institutional Trading of BOK Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of BOK Financial in the 1st quarter valued at about $47,000. EverSource Wealth Advisors LLC raised its stake in shares of BOK Financial by 109.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 500 shares of the bank's stock worth $49,000 after buying an additional 261 shares during the period. Sprucegrove Investment Management Ltd. purchased a new position in shares of BOK Financial during the 2nd quarter valued at approximately $127,000. Versant Capital Management Inc grew its stake in BOK Financial by 1,046.7% in the 1st quarter. Versant Capital Management Inc now owns 1,376 shares of the bank's stock valued at $143,000 after acquiring an additional 1,256 shares during the period. Finally, GAMMA Investing LLC increased its holdings in BOK Financial by 203.0% in the 2nd quarter. GAMMA Investing LLC now owns 1,494 shares of the bank's stock worth $146,000 after acquiring an additional 1,001 shares in the last quarter. Institutional investors and hedge funds own 34.44% of the company's stock.

BOK Financial Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.