3. BOK Financial
Shares of BOK Financial (BOKF - Get Report) of Tulsa, Okla., closed at $54.10 Monday, for a year-to-date decline of 1%, following a 5% return last year. Based on a 33-cent quarterly payout, the shares have a 2.09% dividend yield.
The company had $25.1 billion in total assets as of Sep. 30, with branch operations in Oklahoma, Texas, New Mexico, Colorado, Arkansas, Arizona, Kansas, Missouri and Utah.BOK Financial's ROA ranged from 1.05% to 1.38% in 2011. The shares trade for 1.6 times tangible book value and for 13 times the consensus 2012 EPS estimate of $4.18. The consensus 2013 EPS estimate is $4.36. The company reported fourth-quarter earnings of $67.0 million, or 98 cents a share, declining from $85.1 million, or $1.24 a share, the previous quarter, reflecting a 17% decline in transaction card revenue as the Durbin Rule clamping down on debit card interchange fees was implemented, as well as a decline in brokerage and trading revenue and the previous quarter's securities gains. Morgan Stanley analyst Ken Zerbe has a neutral rating on BOK Financial, with a $60 price target, and said on Feb. 2 after the fourth-quarter results were announced, that the results were consistent with his "broader concerns about limited top line growth across the industry." Going forward, Zerbe said BOK Financial "faces considerable