BOK Financial price target lowered to $96 from $99 at DA Davidson

DA Davidson lowered the firm’s price target on BOK Financial to $96 from $99 and keeps a Neutral rating on the shares after meeting with its management team. The discussion left the analyst incrementally more positive from an investment standpoint as the bank is well positioned to take market share with other banks pulling back, given its strong capital and liquidity position, pristine credit quality, and operations in strong Southwest markets, the firm tells investors in a research note. DA Davidson adds however that the industry is in the early stages of credit costs normalizing, which could pressure the group.