Royal Bank Of Canada Issues Positive Forecast for BOK Financial (NASDAQ:BOKF) Stock Price

Key Points

• Royal Bank of Canada raised its price target on BOK Financial from $136 to $145 while keeping a "sector perform" rating, implying roughly a 7.7% upside from the current share price.
• BOK Financial topped quarterly expectations with EPS of $2.58 vs. $2.30 expected and revenue of $552.3M, and analysts project about 9.76 EPS for the fiscal year.
• The consensus view is a Hold (three Buys, nine Holds) with an average target of $132.25, while shares trade around $134.67 and the company has a market cap of $8.18B.

BOK Financial (NASDAQ:BOKF - Get Free Report) had its target price raised by research analysts at Royal Bank Of Canada from $136.00 to $145.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a "sector perform" rating on the bank's stock. Royal Bank Of Canada's target price suggests a potential upside of 7.67% from the company's current price.

BOKF has been the topic of a number of other reports. Raymond James Financial reaffirmed an "outperform" rating and set a $140.00 price target on shares of BOK Financial in a research report on Tuesday, January 20th. Barclays upped their price target on BOK Financial from $135.00 to $145.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 7th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of BOK Financial in a research report on Wednesday, January 21st. Wells Fargo & Company upped their price target on BOK Financial from $115.00 to $127.00 and gave the stock an "equal weight" rating in a research report on Monday, March 30th. Finally, Zacks Research downgraded BOK Financial from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 30th. Three research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat, BOK Financial has a consensus rating of "Hold" and an average target price of $132.25.

BOK Financial Stock Up 0.4%

Shares of BOKF stock traded up $0.54 during trading hours on Wednesday, reaching $134.67. 26,551 shares of the company's stock were exchanged, compared to its average volume of 352,058. The stock's 50 day moving average is $129.86 and its 200-day moving average is $121.79. The company has a market cap of $8.18 billion, a price-to-earnings ratio of 13.60 and a beta of 0.85. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.53. BOK Financial has a fifty-two week low of $88.11 and a fifty-two week high of $139.73.

BOK Financial (NASDAQ:BOKF - Get Free Report) last issued its quarterly earnings results on Monday, April 20th. The bank reported $2.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.30 by $0.28. The business had revenue of $552.33 million for the quarter, compared to the consensus estimate of $549.71 million. BOK Financial had a return on equity of 9.90% and a net margin of 18.05%.During the same period in the prior year, the firm posted $1.86 earnings per share. Analysts predict that BOK Financial will post 9.76 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Steven Bangert sold 2,500 shares of the company's stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $137.71, for a total value of $344,275.00. Following the transaction, the director directly owned 34,916 shares of the company's stock, valued at $4,808,282.36. This represents a 6.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 63.53% of the stock is currently owned by insiders.

Hedge Funds Weigh In On BOK Financial

Hedge funds have recently made changes to their positions in the company. Farther Finance Advisors LLC grew its position in 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 purchasing an additional 135 shares during the period. Versant Capital Management Inc grew its position in BOK Financial by 92.5% during the 3rd quarter. Versant Capital Management Inc now owns 256 shares of the bank's stock worth $29,000 after purchasing an additional 123 shares during the period. Pinnacle Holdings LLC acquired a new stake in BOK Financial during the 4th quarter worth about $31,000. Aster Capital Management DIFC Ltd acquired a new stake in BOK Financial during the 3rd quarter worth about $41,000. Finally, Covestor Ltd grew its position in BOK Financial by 108.0% during the 4th quarter. Covestor Ltd now owns 366 shares of the bank's stock worth $43,000 after purchasing an additional 190 shares during the period. 34.44% of the stock is owned by institutional investors and hedge funds.

BOK Financial Company Profile

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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