Citi Reiterates Neutral Rating on BOK Financial (BOKF)

Citi analyst Benjamin Gerlinger reiterated a Neutral rating and $110.00 price target on BOK Financial (NASDAQ: BOKF)

The analyst comments "We are refreshing our model ahead of 3Q earnings. Our EPS estimates remain roughly in line to consensus in 2024 and 2025 – we believe loan growth is likely to outpace consensus expectations, however, we find overall future NIM trends to be a little softer than current expectations – driven by both elevated loan growth (with lower new money rates) and limited downside deposit beta capture. We maintain our Neutral rating given we do not see much room for positive EPS revisions or multiple expansion – also, we view the current share price premium to peers to be already pricing in a good amount of fee income upside potential (mainly mortgage and brokerage). We kept our target price at $110, which factors in 10.75% cost of equity and 15.5% normalized ROTCE."

For an analyst ratings summary and ratings history on BOK Financial click here. For more ratings news on BOK Financial click here.

Shares of BOK Financial closed at $104.38 yesterday.

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