BOK Financial upgraded
Zacks upgrades its recommendation on the financial company to 'outperform' from 'neutral.'
By Zacks Equity Research
Zacks is upgrading its recommendation on BOK Financial Corp. (BOKF) to "outperform" from "neutral" based on the improvements in its credit quality trends amidst economic recovery across its primary markets.
Aided by growth in net interest revenue as well as fees and commissions revenue, BOK Financial reported first-quarter earnings of $1.22 per share, well above the Zacks Consensus Estimate of $1.03.
The company also reported growth in commercial loan balances. Its diverse revenue mix and favorable geographic footprint also backed its growth.
BOK Financial also remains committed to boost shareholders' wealth. With a solid capital position and consistent performance, BOK Financial hiked its quarterly cash dividend by a nickel, which now stands at 38 cents per share. This marked the seventh consecutive annual increase since the company paid its first cash dividend in 2005.
While a low interest rate environment and regulatory issues are the headwinds for BOK Financial, we believe that its diverse revenue mix and favorable geographic footprint would back its growth.
In fact, strategic expansions and the local-leadership based business model of BOK Financial, which has peers such as Cullen/Frost Bankers Inc. (CFR) and First Financial Bankshares Inc. (FFIN), aided it to expand into a leading financial service provider from a bank in Oklahoma.
Besides its diverse revenue base and sturdy capital position, expense control initiatives augur well for investors. Moreover, BOK Financial's capital deployment efforts will give a fillip to investors' confidence in the stock.
In addition, the shares of BOK Financial currently retain a Zacks #2 Rank, which translates into a short-term "buy" rating.
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
The apparel chain takes a hard hit after blaming the weather for its quarterly sales decline. But cold temperatures don't explain the drop in full-year sales as well.
VIDEO ON MSN MONEY
Top Stocks provides analysis about the most noteworthy stocks in the market each day, combining some of the best content from around the MSN Money site and the rest of the Web.
Contributors include professional investors and journalists affiliated with MSN Money.
Follow us on Twitter @topstocksmsn.