BOK Financial (BOKF) PT Raised to $139 at DA Davidson on Raised Earnings Forecasts

DA Davidson analyst Peter Winter raised the price target on BOK Financial (NASDAQ: BOKF) to $139.00 (from $132.00) while maintaining a Neutral rating.

The analyst commented, "BOKF is off to a great start in 1Q, led by solid loan growth, diversified fee income growth, well controlled expenses and excellent credit quality. Margin was down more than expected due to a few unusual factors, but the outlook is for NIM expansion going forward. Despite macro uncertainty, mgmt maintained a positive outlook and slightly lowered its efficiency ratio to ~63% (was 63%-64%) and lowered provision expense range by $10M, we still expect provision will come in below that. Consequently, we meaningfully increased our EPS forecasts. Maintain NEUTRAL, but raising our PT to 139 (was $132)."

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