BOK Financial (NASDAQ:BOKF) Cut to “Hold” at Zacks Research

Zacks Research lowered shares of BOK Financial (NASDAQ:BOKF) from a strong-buy rating to a hold rating in a research report released on Monday,Zacks.com reports.

A number of other brokerages have also issued reports on BOKF. Barclays raised their price objective on shares of BOK Financial from $125.00 to $135.00 and gave the company an “equal weight” rating in a report on Wednesday, January 21st. Wells Fargo & Company upped their price target on shares of BOK Financial from $115.00 to $127.00 and gave the company an “equal weight” rating in a research report on Monday. Royal Bank Of Canada raised their price target on shares of BOK Financial from $124.00 to $132.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 21st. Hovde Group lowered shares of BOK Financial from an “outperform” rating to a “market perform” rating and set a $129.00 price target on the stock. in a report on Friday, December 12th. Finally, Citigroup boosted their price objective on shares of BOK Financial from $124.00 to $135.00 and gave the stock a “neutral” rating in a research note on Thursday, January 22nd. Three investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $130.33.

BOK Financial Price Performance

Shares of BOKF opened at $128.09 on Monday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.53. The stock has a market cap of $7.78 billion, a PE ratio of 13.98 and a beta of 0.85. BOK Financial has a 12-month low of $85.07 and a 12-month high of $138.42. The business has a 50-day simple moving average of $129.55 and a two-hundred day simple moving average of $119.54.

BOK Financial (NASDAQ:BOKF) last announced its quarterly earnings results on Friday, January 16th. The bank reported $2.48 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.32. The firm had revenue of $589.56 million for the quarter, compared to analyst estimates of $550.05 million. BOK Financial had a return on equity of 9.36% and a net margin of 17.10%.During the same period last year, the firm posted $2.12 earnings per share. Analysts anticipate that BOK Financial will post 8.83 earnings per share for the current fiscal year.

BOK Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 5th. Investors of record on Thursday, February 19th were issued a $0.63 dividend. The ex-dividend date was Thursday, February 19th. This represents a $2.52 annualized dividend and a yield of 2.0%. BOK Financial’s dividend payout ratio is presently 27.51%.

Insiders Place Their Bets

In other BOK Financial news, Director Steven Bangert sold 1,300 shares of the firm’s stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $137.91, for a total transaction of $179,283.00. Following the completion of the transaction, the director owned 10,936 shares in the company, valued at approximately $1,508,183.76. This trade represents a 10.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 56.94% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Greenleaf Trust increased its position in shares of BOK Financial by 2.4% during the third quarter. Greenleaf Trust now owns 4,214 shares of the bank’s stock worth $470,000 after buying an additional 98 shares during the period. Cowa LLC lifted its holdings in BOK Financial by 1.7% in the fourth quarter. Cowa LLC now owns 6,123 shares of the bank’s stock valued at $725,000 after buying an additional 101 shares during the period. GAMMA Investing LLC lifted its holdings in BOK Financial by 8.4% in the fourth quarter. GAMMA Investing LLC now owns 1,572 shares of the bank’s stock valued at $186,000 after buying an additional 122 shares during the period. Versant Capital Management Inc boosted its position in BOK Financial by 92.5% during the third quarter. Versant Capital Management Inc now owns 256 shares of the bank’s stock valued at $29,000 after acquiring an additional 123 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its position in BOK Financial by 173.1% during the fourth quarter. Farther Finance Advisors LLC now owns 213 shares of the bank’s stock valued at $25,000 after acquiring an additional 135 shares during the last quarter. Institutional investors and hedge funds own 34.44% of the company’s stock.

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.