BOK Financial (NASDAQ:BOKF) Receives Lower Rating From Piper Jaffray. What’s The Reasoning Behind This Move?

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BOK Financial (NASDAQ:BOKF) Receives a Downgrade

In an interesting research report revealed today, Piper Jaffray downgraded shares of BOK Financial (NASDAQ:BOKF) to a Neutral rating from the previous Overweight rating.

From a total of 9 analysts covering BOK Financial (NASDAQ:BOKF) stock, 1 rate it a ”Buy”, 0 a “Sell”, and 8 a ”Hold”. This means that 11% of the ratings are positive. The highest target price is $76 while the lowest target price is $67. The mean of all analyst targets is $70.22 with a 8.20% above today’s ($61.37) stock price. BOK Financial was the topic of 10 analyst reports since July 30, 2015 according to the firm StockzIntelligence Inc. Zacks upgraded shares on September 3 to “Buy” rating. SunTrust downgraded BOKF stock in a recent report from August 25 to “Buy” rating.

Approximately 91,994 shares of stock traded hands. BOK Financial Corporation (NASDAQ:BOKF) has declined 4.19% since May 13, 2015 and is downtrending. It has underperformed by 1.56% the S&P500.

The overall sentiment of institutions has decreased to 1.06 in Q2 2015. Its down 0.28, from 1.34 in 2015Q2. The ratio turned negative, as 14 institutions have sold all the shares of BOK Financial Corporation that they owned while 56 funds have taken shares off the table. 13 funds have purchased shares for the first time while 61 added to their positions. These institutions now hold 32.54 million shares or 33.36% more than the 24.40 million shares they owned in 2015Q2.

The Fund George Kaiser Family Foundation currently is holding shares equating to 88.23% of its total portfolio in BOK Financial Corporation representing a total of 6.99 million shares. Another fund,Nuance Investments Llc, is holding a total of 881,484 shares equating to 6.23% of their holdings. Additionally, Reinhart Partners Inc. has a 370,698 share stake in BOK Financial Corporation which represents 2.41% of their total portfolio. The Fund, Columbia Wanger Asset Management Llc, based out of Illinois, has also built up a stake in the stock, which represents a total of 0.95% of their total portfolio. Finally Zebra Capital Management Llc, a fund which is based in the state of Connecticut reported a total holdings of 21,742 shares.

Insider activity is a very important aspect to track on any stock. Going back to March 10, 2015, shareholders of BOK Financial Corporation have witnessed 0 buys, and a total of 1 sale equating to a net activity of approximately $70,208 . Grauer Scott sold 1,000 shares worth approximately $70,208. Ball C Fred Jr sold 489 shares worth approximately $29,805. Bagwell Norman P sold 5,000 shares worth approximately $300,000.

BOK Financial Corporation is a financial holding company. The company has a market cap of $4.21 billion. BOK Financial offers full service banking in Oklahoma, Texas, New Mexico, Northwest Arkansas, Colorado, Arizona and Kansas/Missouri. It has 14.44 P/E ratio.

According to Zacks Investment Research, “BOK FINANCIAL CORP., through its subsidiaries, provides a wide range of financial services to commercial and intrial customers, other financial institutions and consumers throughout Oklahoma, Northwest Arkansas and North Texas. These services include depository and cash management; lending and lease financing; mortgage banking; securities brokerage; trading and underwriting; and personal and corporate trust.”

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