BOK Financial (NASDAQ:BOKF) Upgraded to “Buy” at Truist Financial

BOK Financial (NASDAQ:BOKF) was upgraded by investment analysts at Truist Financial from a “hold” rating to a “buy” rating in a research report issued on Friday, Briefing.com reports. The firm presently has a $123.00 price objective on the bank’s stock, up from their prior price objective of $112.00. Truist Financial’s price objective indicates a potential upside of 14.41% from the company’s current price.

A number of other research firms have also weighed in on BOKF. Royal Bank of Canada upped their target price on shares of BOK Financial from $99.00 to $114.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 24th. Stephens reiterated an “equal weight” rating and set a $104.00 price target on shares of BOK Financial in a report on Tuesday, July 23rd. Hovde Group lifted their price objective on shares of BOK Financial from $106.00 to $122.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. StockNews.com upgraded shares of BOK Financial from a “sell” rating to a “hold” rating in a report on Friday, July 26th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of BOK Financial from $100.00 to $110.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $109.10.

BOK Financial Stock Performance

Shares of BOKF stock opened at $107.51 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. BOK Financial has a 52 week low of $62.42 and a 52 week high of $108.00. The firm has a 50 day moving average of $101.52 and a 200-day moving average of $93.90. The company has a market cap of $6.94 billion, a price-to-earnings ratio of 15.67 and a beta of 1.18.

BOK Financial (NASDAQ:BOKF) last issued its earnings results on Monday, July 22nd. The bank reported $2.54 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.65. The business had revenue of $871.84 million during the quarter, compared to analyst estimates of $520.43 million. BOK Financial had a return on equity of 9.94% and a net margin of 13.92%. During the same period in the previous year, the company posted $2.27 EPS. On average, equities analysts forecast that BOK Financial will post 7.78 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BOKF. Point72 DIFC Ltd bought a new position in BOK Financial during the second quarter worth about $143,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in BOK Financial during the 2nd quarter valued at $39,000. Sanctuary Advisors LLC purchased a new stake in shares of BOK Financial during the second quarter worth $540,000. Creative Planning boosted its stake in BOK Financial by 66.4% in the 2nd quarter. Creative Planning now owns 5,191 shares of the bank’s stock worth $476,000 after purchasing an additional 2,071 shares during the period. Finally, Dark Forest Capital Management LP purchased a new position in BOK Financial during the 2nd quarter valued at about $302,000. Hedge funds and other institutional investors own 34.44% of the company’s stock.

About BOK Financial

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.