| Over a week ago | ||||
Keefe Bruyette to hold a conference »
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Winter Financial Services… Winter Financial Services Conference will be held in Miami on February 13-14. | ||||
Keefe Bruyette to hold a conference »
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Winter Financial Services… Winter Financial Services Conference will be held in Miami on February 13-14. | ||||
Dallas Banks Field Trip… Dallas Banks Field Trip travels throughout Dallas visiting with various banks on February 3-5. | ||||
Dallas Banks Field Trip… Dallas Banks Field Trip travels throughout Dallas visiting with various banks on February 3-5. | ||||
Dallas Banks Field Trip… Dallas Banks Field Trip travels throughout Dallas visiting with various banks on February 3-5. | ||||
| Over a month ago | ||||
DA Davidson analyst Gary… DA Davidson analyst Gary Tenner downgraded BOK Financial to Neutral from Buy with a price target of $90, down from $95, following its worse than expected Q4 results. The analyst notes that the earnings miss was driven by multiple line items that included lower than projected revenue, higher provision for loan loss due to energy weakness, and higher operating expenses. Tenner adds that BOK Financial's net interest margins compressed by 13bps to 2.88% amid declining loan yields. | ||||
DA Davidson analyst Gary… DA Davidson analyst Gary Tenner downgraded BOK Financial to Neutral from Buy. | ||||
"The fourth quarter… "The fourth quarter concluded our second-consecutive year of record earnings for the organization," said Steven G. Bradshaw, president and chief executive officer. "Achieving our business integration and financial goals for CoBiz early in 2019 set the tone for a monumental year, and helped drive momentum in two of our high-growth markets. The balance between our banking and fee service businesses was evident all year, allowing us to continue our strong earnings growth even with industry headwinds intensifying. This is a testament to how BOK Financial has been carefully constructed over many years with the distinct ability to outperform in challenging conditions. While the economic and political environment in 2020 will bring its own set of challenges, our focus remains on the long-term. We fully expect that our approach to creating and sustaining earnings and growing shareholder value will continue to serve us well in 2020." Reports Q4 Book value per share $68.80. Reports Q4 CET1 ratio 11.39%. | ||||
SunTrust raises price targets on select regional banks on improved margins »
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SunTrust analyst Jennifer… SunTrust analyst Jennifer Demba is raising her price targets on select regional bank stocks heading into 2020, reflecting the expectations of a benign interest rate environment with maintained interest rates along with a "slightly better" forecast for net interest margins and continued strong asset quality, in spite of the slower loan growth and lower refinancing related mortgage fees. The analyst raises her price target forecast on Zions (ZION) to $60 from $52, United Community Bank (UCBI) to $35 from $32, South State Corp (SSB) to $97 from $90, Synovus Financial (SNV) to $48 from $40, SVB Financial (SIVB) to $285 from $250, Pinnacle Financial Corp (PNFP) to $74 from $65; Bank OZK (OZK) to $32 from $29, Hancock Holding (HWC) to $47 from $42, FB Financial (FBK) to $46 from $43, Comerica (CMA) to $75 from $67, Cadence Bancorp (CADE) to $19 from $16, BOK Financial (BOKF) to $90 from $82, and Ameris (ABCB) to $50 from $47. | ||||
Catch up on today's… Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Michaels (MIK) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst Simeon Gutman saying while the company is trying to transform, it is challenged by declining core comparable sales, a continuing ramp up in competition and the liquidation of A.C. Moore. 2. Galapagos (GLPG) downgraded to Neutral from Buy at UBS. 3. CalAmp (CAMP) downgraded to Neutral from Outperform at First Analysis with analyst Howard Smith saying after the company's "mixed" Q3 results, he feels the company's margin profile is not following suit with management commentary, "suggesting expansion is being delayed at least a few quarters." 4. Hershey (HSY) downgraded to Neutral from Buy at BofA/Merrill with analyst Bryan Spillane citing valuation. 5. BOK Financial (BOKF) downgraded to Neutral from Outperform at Wedbush with analyst Peter Winter saying BOK Financial is "a high quality company with a strong management team," but also one that is very asset sensitive. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here. | ||||