Fly News Breaks for January 31, 2019
Jan 31, 2019 | 08:18 EDT
SunTrust analyst Jennifer Demba raised her price target on BOK Financial to $92 to reflect the higher industry valuations as well as its Q4 earnings beat reported yesterday. The analyst says the higher provisioning in the quarter were offset by higher spread income and expects the loan growth and loss provision to drive BOK Financial earnings higher this year. Demba keeps her Hold rating on the shares however, noting that at 10.7-times forward earnings and 1.89-times total book value multiples, the stock trades at a premium to peer median multiples of 9.7-times and 1.61-times respectively.
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