Truist analyst Brandon King lowered the firm’s price target on BOK Financial to $97 from $99 and keeps a Hold rating on the shares as part of a broader research note recapping Q1 earnings among Community and Regional Banks. The firm’s updated model for Fed funds rate forecast calls for zero cuts in 2024 and four 25bps cuts in 2025 from three in 2023 and 2024 previously, the analyst tells investors in a research note. Truist is also revising its FY24 and FY25 EPS on the bank to $7.40 and $8.07 from $7.20 and $7.84, with estimate revisions reflecting higher net interest income and lower provisioning offset partially by lower fees in 2025.
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