Wells Fargo & Company Forecasts Strong Price Appreciation for BOK Financial (NASDAQ:BOKF) Stock

Key Points

• Wells Fargo raised its price target on BOK Financial to $138 from $130, while keeping an equal weight rating on the stock. The new target implies only a slight downside from the prior close.
• Other analysts have also recently adjusted views on BOK Financial, with several maintaining neutral/hold ratings. Overall, MarketBeat shows an average rating of Hold and an average target price of $136.18.
• BOK Financial recently reported better-than-expected quarterly earnings, posting $2.58 EPS versus the $2.30 estimate and revenue above forecasts. The stock was trading near its 52-week high, with shares opening at $139.29.

BOK Financial (NASDAQ:BOKF - Get Free Report) had its price target lifted by investment analysts at Wells Fargo & Company from $130.00 to $138.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an "equal weight" rating on the bank's stock. Wells Fargo & Company's price target suggests a potential downside of 0.93% from the stock's previous close.

A number of other analysts also recently commented on BOKF. Citigroup boosted their price objective on BOK Financial from $138.00 to $141.00 and gave the stock a "neutral" rating in a research note on Thursday, June 25th. Benchmark started coverage on BOK Financial in a report on Wednesday, June 24th. They set a "hold" rating on the stock. DA Davidson boosted their price target on shares of BOK Financial from $132.00 to $139.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 22nd. Zacks Research downgraded shares of BOK Financial from a "strong-buy" rating to a "hold" rating in a report on Monday, March 30th. Finally, Raymond James Financial lowered shares of BOK Financial from an "outperform" rating to a "market perform" rating in a research report on Wednesday. Two investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $136.18.

BOK Financial Stock Performance

Shares of NASDAQ:BOKF opened at $139.29 on Monday. The company has a 50 day moving average of $132.02 and a 200-day moving average of $129.57. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.03. The firm has a market cap of $8.46 billion, a P/E ratio of 14.10 and a beta of 0.80. BOK Financial has a twelve month low of $97.40 and a twelve month high of $142.00.

BOK Financial (NASDAQ:BOKF - Get Free Report) last announced its earnings results on Monday, April 20th. The bank reported $2.58 EPS for the quarter, topping the consensus estimate of $2.30 by $0.28. The firm had revenue of $553.82 million for the quarter, compared to analysts' expectations of $549.71 million. BOK Financial had a return on equity of 9.89% and a net margin of 18.05%.During the same quarter in the previous year, the company earned $1.86 earnings per share. As a group, analysts anticipate that BOK Financial will post 10.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Steven Bangert sold 500 shares of the firm's stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $134.91, for a total transaction of $67,455.00. Following the completion of the sale, the director directly owned 10,436 shares of the company's stock, valued at $1,407,920.76. This trade represents a 4.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jeffrey A. Reid sold 1,200 shares of BOK Financial stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $135.52, for a total value of $162,624.00. Following the sale, the executive vice president owned 8,116 shares of the company's stock, valued at approximately $1,099,880.32. This represents a 12.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 5,500 shares of company stock valued at $738,571. Corporate insiders own 63.53% of the company's stock.

Hedge Funds Weigh In On BOK Financial

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

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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