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3 A-Rated Bank Stocks

BOK Financial

Shares of BOK Financial (BOKF - Get Report) of Tulsa, Okla., closed at $56.36 Tuesday, returning 4% year-to-date, following a 5% last year. The five-year total return was 27%.

Based on a 33-cent quarterly payout, the shares have a 2.34% dividend yield.

The company had $25.9 billion as of March 31, with branch operations in Oklahoma, Texas, New Mexico, Colorado, Arkansas, Arizona, Kansas, Missouri and Utah.

BOK Financial's ROA has ranged from 1.05% to 1.38% over the past five quarters.

The shares trade for 1.6 times tangible book value, and for 12 times the consensus 2013 EPS estimate of $4.54. The consensus 2012 EPS estimate is $4.55.

Sterne Agee analyst Brett Rabatin has a neutral rating on BOK Financial and said on April 25 after the company reported its first-quarter results that the company continued "to exceed our profitability assumptions" and that "results were very impressive in 1Q12 given strong fee income mostly from mortgage banking and solid loan growth," however, the analyst also said that he believed the company's ROA would "be slightly lower going forward."

Rabatin said that "BOKF's model of diversified fee revenues sources and geographic positioning are continuing to result in stronger profitability than we expected," and that "the shares have some modest near-term upside and we continue to view the shares as a lower valuation alternative to more dearly valued Texas peers," but that "a more bullish thesis requires expectations for higher interest rates, since securities account for ~50% of earning assets."

The analyst estimates that Bok Financial will earn $4.68 a share during 2012, followed by 2013 EPS of $4.33.

Interested in more on BOK Financial? See TheStreet Ratings' report card for this stock.

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