BOK Financial (NASDAQ:BOKF) Rating Increased to Buy at Truist Financial

BOK Financial (NASDAQ:BOKF) was upgraded by equities researchers at Truist Financial from a “hold” rating to a “buy” rating in a report issued on Friday, MarketBeat Ratings reports. The firm currently has a $123.00 target price on the bank’s stock, up from their previous target price of $112.00. Truist Financial’s price objective would suggest a potential upside of 16.22% from the company’s current price.

BOKF has been the subject of several other research reports. Wedbush increased their price target on BOK Financial from $94.00 to $115.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. DA Davidson raised their target price on BOK Financial from $97.00 to $111.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Stephens reiterated an “equal weight” rating and issued a $104.00 price target on shares of BOK Financial in a research report on Tuesday, July 23rd. Hovde Group raised their price objective on shares of BOK Financial from $106.00 to $122.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Finally, StockNews.com upgraded shares of BOK Financial from a “sell” rating to a “hold” rating in a report on Friday, July 26th. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $109.10.

BOK Financial Stock Performance

Shares of BOKF stock opened at $105.83 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 1.27. The business has a 50 day moving average of $101.99 and a two-hundred day moving average of $94.18. The company has a market cap of $6.83 billion, a P/E ratio of 15.43 and a beta of 1.18. BOK Financial has a 52 week low of $62.42 and a 52 week high of $108.01.

BOK Financial (NASDAQ:BOKF) last released its quarterly earnings data on Monday, July 22nd. The bank reported $2.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.65. BOK Financial had a net margin of 13.92% and a return on equity of 9.94%. The business had revenue of $871.84 million for the quarter, compared to analysts’ expectations of $520.43 million. During the same quarter last year, the company earned $2.27 EPS. As a group, analysts anticipate that BOK Financial will post 7.78 EPS for the current year.

Institutional Trading of BOK Financial

A number of hedge funds have recently made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. acquired a new position in BOK Financial in the 2nd quarter valued at approximately $39,000. Covestor Ltd raised its holdings in shares of BOK Financial by 361.8% during the first quarter. Covestor Ltd now owns 471 shares of the bank’s stock worth $43,000 after acquiring an additional 369 shares in the last quarter. Olistico Wealth LLC acquired a new stake in BOK Financial during the second quarter valued at $46,000. Bessemer Group Inc. purchased a new position in BOK Financial in the first quarter valued at about $86,000. Finally, Quest Partners LLC acquired a new position in BOK Financial in the 4th quarter worth about $134,000. 34.44% of the stock is owned by hedge funds and other institutional investors.

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.