Yesterday’s Downgrade: Southwest Bancorp, Inc (OKSB)

Southwest Bancorp, Inc. (NASDAQ:OKSB) received a stock rating downgrade from Hovde Group on Mar-29-16. In a note to investors, the firm issued a Market Perform rating and lowered the target price on the stock from $18 to $17. The analysts previously had an Outperform rating on the stock.

Analysts have a consensus target price of $ 18.71 in the 12-month period. The price objective is 24.73% higher than the recent closing price of $ 15.00. The 52-week price range is $ 14.00 – 18.88 and the company has a market capitalization of $ 291.90M. Analysts covering the shares maintain a consensus Buy rating, according to Zacks Investment Research. zero analyst has rated the stock with a sell rating, 2 has assigned a hold rating, 1 says it’s a buy, and 2 have assigned a strong buy rating to the company.

Southwest Bancorp, Inc. (NASDAQ:OKSB) on February 24, 2016 announced that its Board of Directors has authorized a new stock repurchase program for one year effective as of the earlier of: (a) the date Southwest completes its repurchase of all of the shares of Southwest’s common stock that it is authorized to purchase under its current stock repurchase program that became effective as of August 14, 2015; or (b) August 14, 2016, which is the original expiration date of the current program.  The new stock repurchase program authorizes Southwest to purchase up to 5% of its common stock, par value $1.00 per share, outstanding as of the effective date.  Southwest has approximately $2.4 billion in total assets with equity capital in excess of $296 million as of December 31, 2015.

In announcing the new stock repurchase program, Mark Funke, Southwest’s Chief Executive Officer, commented: “Southwest has executed and nearly completed our second 5% stock repurchase program that was announced in the first quarter of 2015.  Southwest’s Board of Directors believes that the adoption of another 5% stock repurchase program demonstrates our continuing commitment to increase shareholder value and reflects our belief that Southwest’s stock continues to represent a good investment opportunity.”

Southwest commenced its first of the three stock repurchase programs in August 2014 and its second program in August 2015.  Under these two programs, Southwest has repurchased 1,649,931 shares for a total of $27.1 million.  Southwest has approximately 169,000 shares remaining under its second stock repurchase program.

See also: A Peek Inside Donald Trump’s Financials Shows How He Takes Advantage Of A Little Known Income Stream That’s Available To Everyone!