Bok Financial Corp. (BOKF)
NASDAQ:BOKF
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Bok Financial
(NASDAQ:BOKF)
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Rating:71Outperform
Price Target:
$142.00
â–²(5.03% Upside)
Action:ReiteratedDate:04/07/26
BOKF scores well overall on attractive valuation and a strong, upbeat earnings-call outlook (record performance, margin/loan growth, strong credit and capital). The biggest offset is financial-quality risk from volatile cash flow, while technicals suggest a longer-term uptrend but muted near-term momentum.
Positive Factors
Fee-heavy revenue & asset management
A fee-heavy model with growing AUMA provides recurring, less rate-sensitive revenue that cushions interest-rate cyclicality. Persistent asset-management and transaction fees support margin stability, predictable cash inflows, and long-term earnings diversification versus pure net-interest reliance.
Negative Factors
Volatile cash generation
Large year-to-year swings in operating and free cash flow reduce predictability for capital returns, reinvestment and provisioning. Persistent volatility raises reliance on market funding and complicates long-term capital allocation, heightening execution risk during stress periods.
Read all positive and negative factors
Positive Factors
Negative Factors
Fee-heavy revenue & asset management
A fee-heavy model with growing AUMA provides recurring, less rate-sensitive revenue that cushions interest-rate cyclicality. Persistent asset-management and transaction fees support margin stability, predictable cash inflows, and long-term earnings diversification versus pure net-interest reliance.
Read all positive factors
Bok Financial (BOKF) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$8.15B
Dividend Yield1.93%
Average Volume (3M)349.78K
Price to Earnings (P/E)10.2
Beta (1Y)0.87
Revenue Growth-2.81%
EPS Growth14.96%
CountryUS
Employees5,030
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)2.89
Shares Outstanding60,761,060
10 Day Avg. Volume310,317
30 Day Avg. Volume349,776
Financial Highlights & Ratios
PEG Ratio0.98
Price to Book (P/B)1.22
Price to Sales (P/S)2.17
P/FCF Ratio12.54
Enterprise Value/Market Cap1.37
Enterprise Value/Revenue3.37
Enterprise Value/Gross Profit5.28
Enterprise Value/Ebitda14.10
Forecast
1Y Price Target
$136.14Price Target Upside0.70% Upside
Rating ConsensusHold
Number of Analyst Covering7
EPS Forecast (FY)9.69
Revenue Forecast (FY)$2.27B
Bok Financial Business Overview & Revenue Model
Company Description
BOK Financial Corporation operates as the financial holding company for BOKF, NA that provides various financial products and services in Oklahoma, Texas, New Mexico, Northwest Arkansas, Colorado, Arizona, and Kansas/Missouri. It operates through ...
How the Company Makes Money
BOKF primarily makes money through a combination of (1) net interest income and (2) noninterest income. Net interest income is earned from the spread between interest income generated on earning assets (such as commercial loans, consumer loans, an...
Bok Financial Earnings Call Summary
Earnings Call Date:Jan 16, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 20, 2026
Earnings Call Sentiment Positive
The call presented a strong operational and financial performance: record EPS, broad-based loan growth, margin expansion, resilient fee income (asset management and AUMA growth), excellent credit metrics, and solid capital levels with opportunistic buybacks. Lowlights were mostly manageable or one-time factors (Q4 non-recurring gains and FDIC benefit, a modest q/q CRE decline, early-stage mortgage finance funding timing, and sensitivity to market-driven trading and deposit dynamics). Given the materially positive operating results and conservative/transparent guidance that accounts for potential normalization, the positives significantly outweigh the negatives.Positive Updates
Record Quarterly and Annual Earnings
Q4 earnings of $177.3 million and EPS of $2.89; full year 2025 earnings $578 million and EPS $9.17 — record high EPS for both the quarter and the year.
Negative Updates
Quarterly Commercial Real Estate Softness
Commercial real estate decreased 1.4% sequentially in Q4 (driven by refinancing into the permanent market), though CRE remains +12.1% YoY and has a robust origination pipeline.
Read all updates
Q4-2025 Updates
Positive
Negative
Record Quarterly and Annual Earnings
Q4 earnings of $177.3 million and EPS of $2.89; full year 2025 earnings $578 million and EPS $9.17 — record high EPS for both the quarter and the year.
Read all positive updates
Company Guidance
For full-year 2026 management guided to upper-single-digit end-of-period loan growth (building on >10% annualized growth over the last three quarters), net interest income of $1.44–$1.48 billion (assuming two cuts in H2 and a slightly steeper curve), fee income of $800–$825 million, and mid-single-digit total revenue growth off a $2.18 billion 2025 baseline; expenses are expected to grow in the low single digits, yielding a full-year average efficiency ratio of about 63–64% that should migrate lower through the year. They forecast provision expense of $25–$45 million, expect continued margin expansion (Q4 NIM +7 bps; core margin +6 bps) aided by securities repricing (~$700M/quarter, ~60–75 bps step-up) and fixed-rate loan repricing (~$200M/quarter, ~100 bps step-up), expect deposit growth but loan growth to outpace deposits (L/D to drift up from mid-60s), and assume deposit betas and interest-bearing liability betas consistent with prior cycles (deposit betas mid-60s; IBL betas upper-70s).Bok Financial Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
71
Positive
Cash Flow
46
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 3.33B | 3.36B | 3.05B | 2.00B | 1.83B |
| Gross Profit | 2.12B | 1.92B | 1.93B | 1.79B | 1.87B |
| EBITDA | 793.89M | 771.95M | 793.14M | 767.72M | 898.57M |
| Net Income | 577.99M | 523.57M | 530.75M | 520.27M | 618.12M |
Balance Sheet | |||||
| Total Assets | 52.24B | 49.69B | 49.82B | 47.79B | 50.25B |
| Cash, Cash Equivalents and Short-Term Investments | 7.05B | 14.29B | 13.63B | 12.90B | 16.00B |
| Total Debt | 4.63B | 4.45B | 8.96B | 7.14B | 2.49B |
| Total Liabilities | 46.32B | 44.13B | 44.68B | 43.10B | 44.88B |
| Stockholders Equity | 5.92B | 5.55B | 5.14B | 4.68B | 5.36B |
Cash Flow | |||||
| Free Cash Flow | 575.23M | 1.26B | -99.73M | 4.91B | -3.90B |
| Operating Cash Flow | 739.62M | 1.43B | 66.18M | 5.12B | -3.69B |
| Investing Cash Flow | -1.52B | -477.23M | -1.79B | -4.60B | 2.60B |
| Financing Cash Flow | 1.01B | -866.79M | 1.67B | -1.95B | 2.75B |
Bok Financial Technical Analysis
Positive
135.20
Price Trends
129.60
Positive
124.56
Positive
115.42
Positive
Market Momentum
1.51
Negative
66.65
Neutral
88.64
Negative
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 135.2 is above the 20-day moving average (MA) of 127.70, above the 50-day MA of 129.60, and above the 200-day MA of 115.42, indicating a bullish trend. The MACD of 1.51 indicates Negative momentum. The RSI at 66.65 is Neutral, neither overbought nor oversold. The STOCH value of 88.64 is Negative, 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 |
|---|---|---|---|---|---|---|---|
75 Outperform | $5.44B | 7.10 | 11.93% | 3.68% | 2.79% | 2.11% | |
74 Outperform | $6.98B | 12.03 | 7.14% | 3.31% | 0.55% | 19.13% | |
73 Outperform | $13.99B | 11.43 | 9.48% | 0.95% | 7.76% | 49.85% | |
71 Outperform | $8.15B | 10.18 | 9.79% | 1.93% | -2.81% | 14.96% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% |
* Financial Sector Average
BOKF
Bok Financial
135.20
47.83
54.75%
OZK
Bank OZK
48.01
11.03
29.81%
PNFP
Pinnacle Financial Partners
92.85
1.83
2.01%
PB
Prosperity Bancshares
69.18
5.77
9.10%
Bok Financial Corporate Events
Business Operations and StrategyExecutive/Board Changes
BOK Financial Promotes Scott Andrews to Lead Specialized Banking
Positive
Apr 6, 2026
On March 31, 2026, BOK Financial announced that Scott Andrews has been promoted to head of specialized industries banking, effective Dec. 1, 2026, succeeding Executive Vice President Brad Vincent, who plans to retire on Nov. 30, 2026. Andrews will...
Business Operations and StrategyFinancial Disclosures
BOK Financial Highlights Diversified Growth in Investor Presentation
Positive
Feb 9, 2026
On February 9, 2026, BOK Financial Corporation posted a new investor presentation outlining its financial position, strategic focus and business mix as of December 31, 2025. The materials highlight a diversified loan portfolio spanning energy, hea...
Dividends
BOK Financial Declares Quarterly Cash Dividend to Shareholders
Positive
Feb 3, 2026
On February 3, 2026, BOK Financial Corporation’s board of directors declared a cash dividend of 63 cents per share on its common stock, reinforcing the company’s pattern of returning capital to shareholders. The dividend is scheduled t...
Stock BuybackFinancial Disclosures
BOK Financial Posts Record Quarterly and Full-Year Earnings
Positive
Jan 16, 2026
For the fourth quarter ended December 31, 2025, BOK Financial Corporation reported record quarterly earnings of $177.3 million, or $2.89 per diluted share, and record full-year 2025 earnings of $578.0 million, or $9.17 per diluted share, driven by...
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.