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Fly News Breaks for January 23, 2020
Jan 23, 2020 | 08:09 EDT
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.
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