Keefe, Bruyette & Woods Issues Positive Forecast for BOK Financial (NASDAQ:BOKF) Stock Price

Key Points

• Keefe, Bruyette & Woods raised its price target on BOK Financial to $146 from $143, while keeping a market perform rating. The new target suggests only modest upside from the previous close.
• BOK Financial shares were up 1.2% to $142.94, near the stock’s 52-week high of $143.59. The company’s market cap is about $8.69 billion with a P/E ratio of 13.49.
• The bank’s latest quarterly results showed EPS of $2.59, missing estimates, but revenue of $589.4 million came in above expectations and rose 5.4% year over year. Analysts still expect BOK Financial to earn $10.41 per share for the full fiscal year.

BOK Financial (NASDAQ:BOKF - Get Free Report) had its price objective hoisted by investment analysts at Keefe, Bruyette & Woods from $143.00 to $146.00 in a report released on Friday,Benzinga reports. The brokerage presently has a "market perform" rating on the bank's stock. Keefe, Bruyette & Woods' price objective indicates a potential upside of 2.14% from the company's previous close.

A number of other research firms have also recently commented on BOKF. Wells Fargo & Company upped their price objective on shares of BOK Financial from $130.00 to $138.00 and gave the company an "equal weight" rating in a research report on Monday, July 6th. Zacks Research cut BOK Financial from a "strong-buy" rating to a "hold" rating in a report on Monday, March 30th. Raymond James Financial downgraded shares of BOK Financial from an "outperform" rating to a "market perform" rating in a report on Wednesday, July 1st. Benchmark began coverage on shares of BOK Financial in a report on Wednesday, June 24th. They issued a "hold" rating for the company. Finally, Barclays raised their price objective on shares of BOK Financial from $145.00 to $150.00 and gave the stock an "equal weight" rating in a report on Wednesday. Two equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $139.00.

BOK Financial Trading Up 1.2%

Shares of NASDAQ BOKF traded up $1.73 during mid-day trading on Friday, hitting $142.94. The company's stock had a trading volume of 77,202 shares, compared to its average volume of 318,900. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market cap of $8.69 billion, a price-to-earnings ratio of 13.49 and a beta of 0.80. The company's fifty day simple moving average is $134.16 and its 200-day simple moving average is $131.51. BOK Financial has a one year low of $97.40 and a one year high of $143.59.

BOK Financial (NASDAQ:BOKF - Get Free Report) last announced its quarterly earnings data on Monday, July 20th. The bank reported $2.59 EPS for the quarter, missing analysts' consensus estimates of $2.68 by ($0.09). BOK Financial had a return on equity of 10.13% and a net margin of 18.97%.The company had revenue of $589.40 million for the quarter, compared to analyst estimates of $568.08 million. During the same period last year, the firm earned $2.19 earnings per share. The firm's revenue for the quarter was up 5.4% on a year-over-year basis. On average, sell-side analysts anticipate that BOK Financial will post 10.41 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Mark B. Wade sold 1,700 shares of the business's stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $132.62, for a total transaction of $225,454.00. Following the completion of the sale, the executive vice president owned 20,361 shares in the company, valued at $2,700,275.82. The trade was a 7.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Steven Bangert sold 2,100 shares of the company's stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $134.78, for a total value of $283,038.00. Following the completion of the transaction, the director directly owned 32,816 shares in the company, valued at $4,422,940.48. The trade was a 6.01% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 4,300 shares of company stock worth $575,947. Insiders own 63.53% of the company's stock.

Institutional Investors Weigh In On BOK Financial

Institutional investors have recently modified their holdings of the business. Farther Finance Advisors LLC boosted its position in shares of BOK Financial by 173.1% during the 4th quarter. Farther Finance Advisors LLC now owns 213 shares of the bank's stock worth $25,000 after acquiring an additional 135 shares in the last quarter. Pinnacle Holdings LLC acquired a new stake in shares of BOK Financial in the 4th quarter valued at $31,000. Fifth Third Bancorp raised its holdings in shares of BOK Financial by 2,291.7% during the 1st quarter. Fifth Third Bancorp now owns 287 shares of the bank's stock worth $37,000 after buying an additional 275 shares in the last quarter. Covestor Ltd lifted its position in shares of BOK Financial by 108.0% during the 4th quarter. Covestor Ltd now owns 366 shares of the bank's stock worth $43,000 after buying an additional 190 shares during the last quarter. Finally, Root Financial Partners LLC raised its stake in BOK Financial by 56.2% during the first quarter. Root Financial Partners LLC now owns 367 shares of the bank's stock worth $47,000 after acquiring an additional 132 shares in the last quarter. Institutional investors own 34.44% of the company's stock.

About BOK Financial

BOK Financial Corporation NASDAQ: BOKF, headquartered in Tulsa, Oklahoma, is a diversified financial services holding company serving businesses, professionals and individuals across the central and western United States. Through its banking subsidiary, BOK Financial offers a full suite of commercial banking, treasury and payment management services, as well as consumer deposit and lending solutions. The company's offerings also encompass wealth management, trust and asset management, investment banking, and insurance products designed to meet the needs of both retail and institutional clients.

The roots of BOK Financial date back to the founding of the Bank of Oklahoma in 1910.

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