In a report released yesterday, Timur Braziler from Wells Fargo maintained a Hold rating on Bok Financial (BOKF – Research Report), with a price target of $95.00.
Timur Braziler has given his Hold rating due to a combination of factors including the projected revenue inflection in the second quarter and the year-over-year earnings per share (EPS) decline, which is one of the highest within its peer group. Although Bok Financial has a strong reliance on fee income, which could provide some revenue stability in case of declining rates, the current valuation appears to fully reflect the existing market conditions, suggesting limited potential for further upside in the stock’s price.
The financial analysis indicates that Bok Financial’s operating EPS exceeded expectations due to higher net interest income (NII), better-than-anticipated expense management, and a lower provision, despite a slight drop in fee income. Furthermore, the company has demonstrated robust deposit growth and credit performance, with nonperforming loans (NPLs) showing significant improvement. Despite these positive aspects, the deposit cost pressure and the modest increase in tangible book value (TBV) quarter-over-quarter indicate areas of concern that prevent an outright positive rating at this time.
In another report released yesterday, Citi also maintained a Hold rating on the stock with a $100.00 price target.
Based on the recent corporate insider activity of 101 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BOKF in relation to earlier this year.
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Bok Financial (BOKF) Company Description:
BOK Financial Corp. is a holding company, which engages in the provision of financial solutions. It operates through the following segments: Commercial Banking; Consumer Banking; Wealth Management; and Funds Management. The Commercial Banking segment includes lending, treasury, and cash management services, as well as customers risk management products for small businesses, middle market, and larger commercial customers. The Consumer Banking segment offers retail lending and deposit services; lending and deposit services to small business customers served through the retail branch network; and all mortgage banking activities. The Wealth Management segment provides fiduciary services, private bank services, and investment advisory services in all markets, as well as underwriting state and municipal securities. The Funds Management unit manages overall liquidity needs and interest rate risks. The company was founded in 1990 and is headquartered in Tulsa, OK.
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