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Bok Financial
(NASDAQ:BOKF)
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Rating:68Neutral
Price Target:
$154.00
â–²(11.50% Upside)
Action:Reiterated
Date:05/12/26
The score is driven mainly by improved TTM profitability and cash generation alongside a constructive earnings outlook (loan growth, strong credit, and expense discipline). These positives are tempered by balance-sheet re-leveraging and near-term NIM/NII pressure, while valuation is supportive and technicals suggest a steady longer-term uptrend with some short-term softness.
Positive Factors
Credit Quality
Exceptionally low NPAs and minimal net charge‑offs indicate durable underwriting quality and conservative reserving. Over the next 2–6 months this supports steadier earnings, lower provision variability, and gives management bandwidth to pursue loan growth without materially raising credit risk.
Negative Factors
Re‑leveraging Trend
A rising leverage ratio increases funding and credit risk sensitivity. If funding costs climb or asset performance deteriorates, higher leverage could magnify losses, constrain capital actions and force more conservative lending or higher provisions over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Credit Quality
Exceptionally low NPAs and minimal net charge‑offs indicate durable underwriting quality and conservative reserving. Over the next 2–6 months this supports steadier earnings, lower provision variability, and gives management bandwidth to pursue loan growth without materially raising credit risk.
Read all positive factors
Bok Financial (BOKF) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$8.58B
Dividend Yield1.74%
Average Volume (3M)257.43K
Price to Earnings (P/E)14.3
Beta (1Y)0.80
Revenue Growth-2.17%
EPS Growth13.60%
CountryUS
Employees5,030
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)9.90
Shares Outstanding60,759,990
10 Day Avg. Volume239,995
30 Day Avg. Volume257,425
Financial Highlights & Ratios
PEG Ratio1.01
Price to Book (P/B)1.22
Price to Sales (P/S)2.17
P/FCF Ratio9.76
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$141.67Price Target Upside2.57% Upside
Rating ConsensusHold
Number of Analyst Covering8
EPS Forecast (FY)10.3
Revenue Forecast (FY)$2.28B
Bok Financial Business Overview & Revenue Model
Company Description
BOK Financial Corporation (BOKF) functions as the holding company for its primary banking subsidiary, BOKF, NA, delivering a comprehensive suite of financial products and services. Its operations span a multi-state region, including Oklahoma, Texa...
How the Company Makes Money
BOK Financial primarily earns revenue through a mix of net interest income and noninterest (fee-based) income. Net interest income is generated by collecting interest and fees on loans and other interest-earning assets (such as securities) and pay...
Bok Financial Earnings Call Summary
Earnings Call Date:Apr 20, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Oct 28, 2026
Earnings Call Sentiment Positive
The call presented multiple constructive operating themes: profitable quarter (EPS $2.58), continued and broad-based loan growth (2.1% sequential; guidance near 10% for 2026), very strong credit metrics (low NPAs and net charge-offs), disciplined expense management (expenses down $6.9M; efficiency 63.2%), resilient fee businesses (fee income $209.8M; syndication activity +40% YoY), and strong capital ratios (TCE 9.3%, CET1 12.6%). Offsetting items included near-term net interest margin compression (NII down $2.7M; margin -8 bps) and a $3B AUMA decline that pressures fee revenue, plus some seasonal funding and deposit dynamics. Management maintained mid-single-digit revenue growth guidance, trimmed NII guidance modestly, and raised fee expectations. Overall, the positives (loan growth, credit quality, expense control, fee resilience, capital strength) outweigh the near-term margin and market-driven headwinds.Positive Updates
Strong GAAP Earnings and EPS
Reported earnings of $155.8 million and diluted EPS of $2.58 for Q1 2026, demonstrating profitable core operations.
Negative Updates
Net Interest Income and Margin Compression
Net interest income fell $2.7 million and reported net interest margin declined 8 basis points sequentially (core NII excluding trading down $4.8 million and core margin down 7 bps). Management cited several small simultanous headwinds: seasonal DDA low, lower loan fees, normalization of SOFR spreads, funding costs for energy derivative margin, and full-quarter impact of November subordinated debt issuance.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong GAAP Earnings and EPS
Reported earnings of $155.8 million and diluted EPS of $2.58 for Q1 2026, demonstrating profitable core operations.
Read all positive updates
Company Guidance
Management guided 2026 to continued growth with loan growth near 10% and total revenue up in the mid‑single‑digits, NII now expected at $1.42–$1.45 billion and fee income $820–$845 million, expense growth in the low single digits producing a full‑year average efficiency ratio around 63%, and provision expense of $15–$35 million. The outlook assumes no rate cuts in 2026 (versus two cuts previously) but anticipates margin expansion after Q1’s 2.90% NIM (Q1 NII down $2.7M, core NII down $4.8M, margin -8 bps; management notes long‑run margin potential ≈3.15% as securities roll to ~4.50%), and funding/fee mix is rate‑curve dependent. Capital and credit remain strong: tangible common equity 9.3%, CET1 12.6%, ACL $323M (1.23% of loans), NPAs ex‑government $52M (20 bps of loans), and Q1 net charge‑offs $1.9M (3 bps LTM). Management also expects to participate in the Visa Class B exchange (half of ~190k share‑equivalent position ≈95k shares) which could yield roughly a $29M pretax gain at $309/share (not included in guidance).Bok Financial Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
58
Neutral
Cash Flow
63
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.36B | 3.33B | 3.36B | 3.05B | 2.00B | 1.83B |
| Gross Profit | 2.18B | 2.12B | 1.92B | 1.93B | 1.79B | 1.87B |
| EBITDA | 866.22M | 793.89M | 771.95M | 793.14M | 767.72M | 898.57M |
| Net Income | 613.98M | 577.99M | 523.57M | 530.75M | 520.27M | 618.12M |
Balance Sheet | ||||||
| Total Assets | 53.76B | 52.24B | 49.69B | 49.82B | 47.79B | 50.25B |
| Cash, Cash Equivalents and Short-Term Investments | 8.90B | 7.05B | 14.29B | 13.63B | 12.90B | 16.00B |
| Total Debt | 6.87B | 4.63B | 4.45B | 8.96B | 7.14B | 2.49B |
| Total Liabilities | 47.79B | 46.32B | 44.13B | 44.68B | 43.10B | 44.88B |
| Stockholders Equity | 5.97B | 5.92B | 5.55B | 5.14B | 4.68B | 5.36B |
Cash Flow | ||||||
| Free Cash Flow | 1.79B | 739.62M | 1.26B | -99.73M | 4.91B | -3.90B |
| Operating Cash Flow | 1.94B | 739.62M | 1.43B | 66.18M | 5.12B | -3.69B |
| Investing Cash Flow | -4.08B | -1.52B | -477.23M | -1.79B | -4.60B | 2.60B |
| Financing Cash Flow | 2.13B | 1.01B | -866.79M | 1.67B | -1.95B | 2.75B |
Bok Financial Technical Analysis
Positive
138.12
Price Trends
133.12
Positive
131.23
Positive
124.13
Positive
Market Momentum
2.14
Negative
60.11
Neutral
77.17
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BOKF, the sentiment is Positive. The current price of 138.12 is below the 20-day moving average (MA) of 138.18, above the 50-day MA of 133.12, and above the 200-day MA of 124.13, indicating a bullish trend. The MACD of 2.14 indicates Negative momentum. The RSI at 60.11 is Neutral, neither overbought nor oversold. The STOCH value of 77.17 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BOKF.
Bok Financial Risk Analysis
Bok Financial disclosed 25 risk factors in its most recent earnings report. Bok Financial reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Bok Financial Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $5.90B | 8.43 | 11.63% | 3.68% | 0.67% | 0.52% | |
73 Outperform | $15.27B | 12.44 | 7.42% | 0.95% | 39.90% | 16.82% | |
71 Outperform | $8.81B | 13.31 | 6.80% | 3.31% | -0.62% | 5.42% | |
68 Neutral | $8.58B | 14.27 | 10.32% | 1.93% | -2.17% | 13.60% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% |
* Financial Sector Average
BOKF
Bok Financial
141.24
36.74
35.16%
OZK
Bank OZK
52.01
2.17
4.36%
PNFP
Pinnacle Financial Partners
101.05
-13.97
-12.15%
PB
Prosperity Bancshares
73.49
3.46
4.94%
Bok Financial Corporate Events
Business Operations and StrategyFinancial Disclosures
BOK Financial Highlights Strategy in New Investor Presentation
Positive
May 11, 2026
On May 11, 2026, BOK Financial posted a new investor presentation outlining its strategy and financial profile, highlighting total assets of $53.8 billion, loans of $26.2 billion and deposits of $38.7 billion as of March 31, 2026. The materials em...
Executive/Board ChangesShareholder Meetings
BOK Financial Shareholders Back Board, Pay and Auditor
Positive
May 7, 2026
On May 5, 2026, BOK Financial Corporation held its annual meeting of shareholders, during which all nominated directors, including Alan S. Armstrong, George B. Kaiser and others, were elected with substantial majorities despite some withheld votes...
Business Operations and StrategyFinancial Disclosures
BOK Financial Reports Solid First-Quarter 2026 Earnings Performance
Neutral
Apr 20, 2026
BOK Financial reported first-quarter 2026 net income of $155.8 million, or $2.58 per diluted share, down from $177.3 million in the prior quarter, as net interest income slipped to $342.6 million and net interest margin narrowed to 2.90%. Fee and ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.