BOK Financial price target lowered to $114 from $122 at DA Davidson

DA Davidson lowered the firm’s price target on BOK Financial (BOKF) to $114 from $122 and keeps a Buy rating on the shares. The company’s Q1 results were heavily weighed down from weak brokerage and trading and another quarter of elevated loan pay downs, which overshadowed solid net interest margin expansion, good fee income growth in other businesses, and strong credit trends, the analyst tells investors in a research note. The management also did not change its net interest income forecast or total revenue forecast of mid-to-upper single digit growth, which is going to be difficult to achieve, the firm added.