Group 1 - The article discusses the Q4 earnings season for regional banks, specifically focusing on BOK Financial Corporation (BOKF) [1] - The analysis emphasizes the importance of regional bank performance as an indicator of broader economic trends [1] - The article highlights the expertise of Quad 7 Capital, a team of analysts known for their investment strategies and market insights [1] Group 2 - Quad 7 Capital has a track record of successful investment calls, including a notable recommendation to sell everything and go short in February 2020 [1] - The team focuses on short- and medium-term investments, income generation, and momentum trades, providing in-depth research and clear entry and exit targets [1] - The benefits of BAD BEAT Investing include educational resources for investors, access to trading tools, and weekly trade ideas [1]

Group 1 - 3M Co. is expected to report quarterly earnings of $1.80 per share on revenue of $6.01 billion, with shares slipping 0.2% to $167.45 in after-hours trading [1] - D.R. Horton Inc. is projected to post quarterly earnings of $1.93 per share on revenue of $6.60 billion, with shares falling 0.2% to $155.67 in after-hours trading [1] - BOK Financial Corp. reported better-than-expected earnings of $2.89 per share, exceeding the analyst consensus estimate of $2.18 per share, with quarterly sales of $589.563 million surpassing the estimate of $550.100 million; shares gained 0.4% to close at $128.21 [1] - United Airlines Holdings Inc. is projected to report quarterly earnings of $2.94 per share on revenue of $15.40 billion, with shares slipping 0.1% to $113.45 in after-hours trading [1] - Netflix Inc. is expected to post quarterly earnings of 55 cents per share on revenue of $11.97 billion, with shares rising 0.5% to $88.44 in after-hours trading [1]

Core Insights - BOK Financial Corporation (BOKF) reported a fourth-quarter 2025 adjusted net income per share of $2.48, exceeding the Zacks Consensus Estimate of $2.13, marking a 16.9% increase from the prior-year quarter [1][7] - The company's performance was driven by higher net interest income (NII) and total fees and commissions, alongside growth in loans and deposits, although rising operating expenses were a concern [1][11] Financial Performance - Net income attributable to shareholders for the quarter was $177.3 million, reflecting a 30.2% year-over-year increase [2] - Quarterly net revenues reached $589.6 million, a 12.7% increase year-over-year, surpassing the Zacks Consensus Estimate of $543 million [3] - Full-year revenues totaled $2.17 billion, up 7% year-over-year [3] Income and Expenses - Net interest income was reported at $345.3 million, a 10.3% increase year-over-year, with the net interest margin expanding by 23 basis points to 2.98% [3] - Total fees and commissions amounted to $214.9 million, up 3.8% year-over-year, driven by growth in nearly all components [4] - Total operating expenses were $361.1 million, also up 3.8% year-over-year, primarily due to higher personnel costs [4] Loan and Deposit Growth - As of December 31, 2025, total loans increased to $25.6 billion, a 3.2% rise from the prior quarter, mainly due to growth in commercial loans and loans to individuals [5][7] - Total deposits rose 2.4% sequentially to $39.4 billion, supported by higher interest-bearing transaction accounts, demand deposits, and savings deposits [5] Credit Quality - Non-performing assets stood at $74.5 million, or 0.29% of outstanding loans, compared to $48.9 million, or 0.20%, in the prior-year quarter [6] - The company recorded net charge-offs of $1.4 million, up from $528 thousand in the year-ago quarter [8] Capital and Profitability Ratios - As of December 31, 2025, the common equity Tier 1 capital ratio was 12.89%, down from 13.03% a year earlier [9] - Return on average equity improved to 11.80%, up from 9.71% in the prior year, while return on average assets increased to 1.36% from 1.07% [9] Share Repurchase Activity - During the reported quarter, BOK Financial repurchased 2,617,414 shares at an average price of $107.99 per share [10]

Core Viewpoint - BOK Financial Corporation reported its operating results for the fourth quarter and full year of 2025, indicating a significant financial performance review scheduled for January 20, 2026 [1] Financial Results - The fourth quarter earnings release for 2025 is available for review, providing detailed insights into the company's financial performance [1] - A conference call is set to take place on January 20, 2026, at noon central time to discuss the financial results [1]

Financial Performance - BOK Financial Corporation reported annual net income of $578 million, or $9.17 per diluted share, for 2025, compared to $523.6 million, or $8.14 per diluted share, in 2024[2]. - Fourth quarter net income was $177.3 million, or $2.89 per diluted share, an increase from $140.9 million, or $2.22 per diluted share, in the prior quarter[1]. - Net income attributable to BOK Financial Corporation shareholders for Q4 2025 was $177,301 thousand, a 30.2% increase from $136,154 thousand in Q4 2024[50]. - Net income per share for Q4 2025 was $2.89, up from $2.12 in Q4 2024, representing a growth of 36.4%[50]. - Adjusted net income for Q4 2025 was $152,134,000, resulting in adjusted earnings per share of $2.48, compared to $2.89 for net income attributable to shareholders[55]. Revenue and Income Sources - Net interest income for 2025 totaled $1.3 billion, an increase of $116.6 million from the previous year, with a net interest margin of 2.87% compared to 2.65%[2]. - Fees and commissions revenue for the fourth quarter was $214.9 million, up $10.4 million, led by growth in trading revenue and fiduciary and asset management revenue[9]. - Other operating revenue increased by 15.9% to $244.3 million in the fourth quarter, driven by a $23.5 million pre-tax gain on the sale of a merchant banking investment[12]. - Total fees and commissions for the quarter reached $214,864 thousand, up from $206,938 thousand in the previous year, indicating a growth of 3.4%[51]. Loan and Deposit Growth - Average outstanding loan balances increased by $416 million to $25.2 billion, primarily driven by growth in the commercial loan portfolio[5]. - Period end loans grew by $786 million to $25.7 billion, with nonperforming assets stable at $75 million, or 0.29% of outstanding loans[1]. - Outstanding loans increased by $786 million to $25.7 billion, primarily driven by growth in commercial loans, with unfunded loan commitments growing by $590 million[16][17]. - Period-end deposits totaled $39.4 billion, an increase of $935 million, with interest-bearing transaction accounts up by $867 million[24]. - Total loans increased to $25,651,462,000 in Q4 2025, up from $24,865,194,000 in Q3 2025, representing a growth of 3.2%[61]. Operating Expenses and Efficiency - Operating expenses decreased by $8.7 million to $361.1 million in the fourth quarter, while personnel expenses decreased by $3.6 million[1]. - Total operating expenses for Q4 2025 were $361.1 million, a decrease of $8.7 million or 2.4% from the previous quarter[13]. - The efficiency ratio improved to 60.71% in Q4 2025 from 66.66% in Q3 2025, indicating better operational efficiency[54]. - The efficiency ratio for the year ended December 31, 2025, was 65.13%, indicating the company's operational efficiency[55]. Capital and Asset Management - The company's common equity Tier 1 capital ratio was 12.89% at December 31, 2025, down from 13.60% at September 30, 2025[26]. - Total assets increased to $52.2 billion as of December 31, 2025, up from $50.2 billion at September 30, 2025[47]. - The fair value of the available-for-sale securities portfolio increased by $126 million to $13.6 billion at December 31, 2025, with a net unrealized loss of $133 million[35]. - The tangible common equity ratio decreased to 9.46% in Q4 2025 from 10.06% in Q3 2025[54]. Credit Quality and Risk Management - Nonperforming assets totaled $75 million, or 0.29% of outstanding loans, showing a slight improvement from 0.30% in the previous quarter[29]. - Net charge-offs for the fourth quarter of 2025 were $1.4 million, or 0.02% of average loans, with trailing twelve months net charge-offs at $6.7 million, or 0.03% of average loans[31]. - The combined allowance for loan losses and off-balance sheet credit risk was $327 million, or 1.28% of outstanding loans, as of December 31, 2025[33]. - The allowance for loan losses to period end loans was 1.08% as of December 31, 2025, down from 1.12% in the previous quarter, suggesting a slight improvement in loan quality[67]. Shareholder Returns and Stock Activity - The company repurchased 2,617,414 shares of common stock at an average price of $107.99 per share during the fourth quarter[1]. - Cash dividends paid in the quarter amounted to $38,042 thousand, up from $36,421 thousand in the previous year, reflecting a growth of 4.5%[52]. - Shares repurchased during the quarter totaled 2,617,414, with an amount of $282,645 thousand spent, reflecting a significant investment in share buybacks[52]. Segment Performance - Commercial Banking segment contributed $164.0 million to net income before taxes, an increase of $24.2 million from the previous quarter, with average loans rising by $249 million, or 1%[40]. - Consumer Banking segment net income before taxes was $15.1 million, with average loans increasing by $83 million, or 3%[41]. - Wealth Management segment contributed $42.7 million to net income before taxes, an increase of $6.1 million, with assets under management rising by $3.9 billion, or 3%[42].

Core Viewpoint - BOK Financial Corporation is expected to report an increase in fourth-quarter earnings and revenue compared to the previous year [1] Earnings Expectations - The company is projected to report fourth-quarter earnings of $2.16 per share, up from $2.12 per share in the same period last year [1] - The consensus estimate for quarterly revenue is $549.37 million, an increase from $525.56 million reported last year [1] Recent Stock Performance - Shares of BOK Financial gained 2.1% to close at $127.69 [2] Analyst Ratings and Price Targets - Wells Fargo analyst Timur Braziler maintained an Equal-Weight rating and raised the price target from $105 to $115 [3] - Barclays analyst Jared Shaw maintained an Equal-Weight rating and increased the price target from $120 to $125 [3] - Hovde Group analyst Brett Rabatin downgraded the stock from Outperform to Market Perform [3] - DA Davidson analyst Peter Winter maintained a Buy rating and raised the price target from $120 to $122 [3] - Keefe, Bruyette & Woods analyst Wood Lay maintained a Market Perform rating and cut the price target from $118 to $116 [3]

Core Viewpoint - BOK Financial Corporation (NASDAQ:BOKF) is a financial holding company with a stable outlook, offering various financial products and services across multiple states, and is expected to report strong earnings growth soon [1][3][6] Group 1: Company Overview - BOK Financial operates through three main segments: Commercial Banking, Consumer Banking, and Wealth Management [1] - The company competes with mid-cap finance companies like First Financial Bankshares (NASDAQ:FFIN) [1] Group 2: Price Target Analysis - The consensus price target for BOK Financial's stock has shown slight fluctuations, remaining around $120 over the past year, with a recent increase to $121.4 [2][6] - Wells Fargo has set a lower price target of $105, indicating a more cautious outlook compared to other analysts [2] Group 3: Earnings Expectations - BOK Financial is anticipated to report earnings next week, with Wall Street expecting growth and a strong potential for an earnings beat based on past performance [3][6] - The company has consistently delivered impressive earnings surprises, suggesting a favorable outlook for the upcoming quarterly report [3] Group 4: Economic and Strategic Factors - Economic conditions such as interest rates, inflation, and regional economic growth are vital for BOK Financial's performance [4] - Strategic initiatives, including mergers, acquisitions, and market expansions, can significantly influence analysts' price targets [5][6]

Core Viewpoint - BOK Financial (BOKF) is well-positioned to continue its earnings-beat streak in the upcoming report, supported by a strong earnings history and positive analyst sentiment [1][5]. Earnings Performance - For the most recent quarter, BOK Financial reported earnings of $2.22 per share, exceeding the expected $2.1 per share, resulting in a surprise of 5.71% [2]. - In the previous quarter, the company reported $2.19 per share against an expectation of $1.98 per share, achieving a surprise of 10.61% [2]. Analyst Estimates - Recent estimates for BOK Financial have been increasing, with a positive Earnings ESP (Expected Surprise Prediction) indicating a strong likelihood of an earnings beat [5][8]. - The current Earnings ESP for BOK Financial is +3.53%, reflecting growing bullish sentiment among analysts regarding its near-term earnings potential [8]. Zacks Rank and Predictive Power - BOK Financial holds a Zacks Rank of 2 (Buy), which, when combined with a positive Earnings ESP, suggests a high probability of another earnings beat [8]. - Stocks with a positive Earnings ESP and a Zacks Rank of 3 (Hold) or better have historically produced a positive surprise nearly 70% of the time [6].

Core Insights - BOK Financial Corporation (BOKF) shares have increased by 17.9% over the past six months, significantly outperforming the industry growth of 3% and its peers, First Horizon Corporation (FHN) and Cullen/Frost Bankers, Inc. (CFR) [1][8] Performance Overview - The Zacks Consensus Estimate for BOKF's earnings for 2025 and 2026 has been revised upward, indicating a 1.1% and 7.7% rise respectively, reflecting analyst optimism about the company's future earnings [4][5][8] Growth Drivers - BOKF has experienced stable organic growth with a compound annual growth rate (CAGR) of 2% in loans over the six years ending in 2024, supported by a diversified business model and increased lending activity [9] - Deposits have also shown consistent growth, achieving a CAGR of 7.1% over the same period, bolstered by a balanced mix of commercial, consumer, wealth, and small business deposits [12] - The company expects loan growth of 5–7% in 2025, compared to $24.1 billion reported at the end of 2024, driven by a strong loan pipeline and rising deposit balances [15][16] Financial Metrics - BOKF's net interest income (NII) has benefited from higher interest rates, achieving a four-year CAGR of 2.8% through 2024, with continued growth in the first nine months of 2025 [17] - Despite a decline in net interest margin (NIM) to 2.75% in 2024 from 2.93% in 2023, NIM showed modest expansion in the first nine months of 2025 due to easing funding costs and improved asset yields [18] Asset Quality - The company has demonstrated strong improvement in asset quality, with non-performing assets declining at a CAGR of 24.6% over the five years ending in 2024, continuing to decline in the first nine months of 2025 [20] - Net charge-offs have recorded a five-year negative CAGR of 40.9% through 2024, indicating a resilient balance sheet capable of navigating potential economic slowdowns [21] Strategic Expansion - BOKF has strategically expanded into key neighboring markets, including a new office in Memphis, TN, and an expansion into the San Antonio market, enhancing its competitive standing [22][23] Capital Distribution - The company has a disciplined capital distribution strategy, raising its quarterly dividend by 3.6% to 57 cents per share in October 2024, with a current dividend yield of 2.11% [24][28] Near-Term Concerns - Rising operating expenses have recorded a CAGR of 3.4% over the six years ended 2024, expected to remain elevated due to ongoing investments in technology and higher employee-related compensation [29] - The company's liquidity position is relatively low compared to its elevated debt levels, with total debt of $4.2 billion against cash and equivalents of $1.4 billion as of September 30, 2025 [30] Valuation - BOKF stock is currently trading at a 12-month trailing price-to-earnings (P/E) ratio of 13.34X, higher than the industry's 12.98X, indicating a premium valuation [31] Conclusion - Despite near-term concerns, BOKF's consistent loan and deposit growth, improving asset quality, and favorable earnings estimate revisions suggest a well-run, growth-oriented bank with strong fundamentals and shareholder-friendly policies [34]

Core Viewpoint - BOK Financial Corporation will host a conference call to discuss its fourth quarter and full-year 2025 financial results on January 20, 2026 [1] Company Developments - The conference call may include discussions on company developments and forward-looking statements [1] Financial Matters - The call will cover other material information regarding business and financial matters [1]