We BOK Financial Corporation reports quarterly earnings of $140 million, or $2.18 per share, in the third quarter. | --- | --- | |----------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

Analysts on Wall Street project that BOK Financial (BOKF) will announce quarterly earnings of $2 per share in its forthcoming report, representing a decline of 2% year over year. Revenues are projected to reach $509.43 million, increasing 2.1% from the same quarter last year. The consensus EPS estimate for the quarter has been revised 1.4% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this time ...

D A Davidson analyst Peter J. Winter upgraded BOK Financial Corporation BOKF to Buy from Neutral and raised the price target to $124 (from $113). The analyst writes that BOKF is well-positioned for lower rates, leading them to upgrade the EPS estimates for the second half of 2024 and 2025 to the top end of consensus. Although BOKF lowered its revenue outlook in July, expecting only one rate cut in the second half of 2024 instead of two, the recent 50 basis point cut in September and signs of further rate cu ...

BOK Financial (BOKF) is expected to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price. The earnings report, which is expected to be released on October 21, 2024, might help the stock move higher if these key numbers are better ...

Core Insights - Investors in BOK Financial Corporation (BOKF) should monitor stock movements due to high implied volatility in the options market, particularly the Sep 20, 2024 $45.00 Put option [1] Company Analysis - BOK Financial is currently rated as Zacks Rank 3 (Hold) within the Banks - Southwest industry, which ranks in the top 17% of Zacks Industry Rank [3] - Over the last 60 days, one analyst has raised earnings estimates for the current quarter, while two have lowered theirs, resulting in a decrease in the Zacks Consensus Estimate from $1.96 to $1.94 per share [3] Options Market Insights - The high implied volatility suggests that options traders are anticipating significant price movement for BOK Financial shares, indicating potential trading opportunities [4] - Seasoned options traders often seek high implied volatility options to sell premium, aiming for the underlying stock to not move as much as expected by expiration [4]

BOK Financial Corporation (BOKF) shares have gained 23.3% in the past six months, outperforming the industry's growth of 15%. BOKF has also outperformed its close peers like Cullen/Frost Bankers, Inc. (CFR) and First Horizon Corporation's (FHN) rise of 2.3% and 15.8%, respectively. Image Source: Zacks Investment Research BOKF is currently trading just 2.8% below its 52-week high of $107.98 hit on July 23. However, after such a significant rally, the question on every investor's mind is whether they should b ...

Financial Performance - BOK Financial reported net income of $163.7 million or $2.54 per diluted share for Q2 2024, up from $83.7 million or $1.29 per diluted share in Q1 2024[6]. - Total net income for Q2 2024 was $163.7 million, a significant increase of 96% from $83.7 million in Q1 2024[55]. - The company reported a net gain of $57.4 million in the second quarter of 2024, significantly up from $4.3 million in the first quarter, driven by a $53.8 million pre-tax gain on Visa shares[40]. - Net income for the three months ended June 30, 2024, was $163,732 thousand, compared to $151,636 thousand for the same period in 2023, representing an increase of 7.3%[184]. - Earnings per share increased to $2.54, up from $1.29 in the previous quarter, indicating strong earnings growth[152]. Revenue and Income Sources - Net interest income for Q2 2024 totaled $296.0 million, an increase of $2.4 million from the prior quarter, with a net interest margin of 2.56% compared to 2.61% in Q1 2024[6]. - Tax-equivalent net interest income for the second quarter of 2024 was $2,449 million, a decrease of $85,016 million compared to the previous period[22]. - Other operating revenue increased to $259.7 million in Q2 2024, up by $98.0 million from Q1 2024, driven by a $53.8 million pre-tax gain from Visa B shares conversion[24]. - Total fees and commissions revenue for the second quarter was $200.0 million, showing a slight decrease of $537, remaining stable compared to the previous quarter[25]. - Total interest revenue for the six months ended June 30, 2024, was $1,317,029 thousand, up from $1,087,096 thousand in 2023, reflecting a growth of 21.1%[183]. Loan and Deposit Growth - Outstanding loan balances grew to $24.6 billion at June 30, 2024, an increase of $381 million from March 31, 2024, primarily due to growth in commercial loans[8]. - Period end deposits reached $36.2 billion at June 30, 2024, an increase of $858 million over March 31, 2024, with average deposits rising by $627 million[9]. - Average outstanding balance of loans attributed to Commercial Banking increased by $337 million or 2% to $20.4 billion in Q2 2024[59]. - Average deposits attributed to Commercial Banking increased by $459 million or 3% to $16.2 billion in Q2 2024[59]. - Total deposits reached $36,241 million as of June 30, 2024, up from $35,384 million in the previous quarter[136]. Credit Quality and Loss Provisions - The provision for credit losses was $8.0 million in Q2 2024, reflecting continued loan growth and a stable economic forecast[8]. - Net loans charged off increased to $6.1 million in Q2 2024, up 47% from $4.2 million in Q1 2024[58]. - The allowance for loan losses totaled $288 million, representing 1.17% of outstanding loans as of June 30, 2024[113]. - Total nonperforming assets decreased to $93.017 million as of June 30, 2024, down from $122.375 million on March 31, 2024[122]. - Nonaccruing loans decreased by $29 million compared to March 31, 2024, with new nonaccruing loans identified totaling $24 million[123]. Operating Expenses - Total operating expenses for the six months ended June 30, 2024, were $677.1 million, an increase of $52.6 million compared to the same period in 2023[13]. - Other operating expenses for Q2 2024 totaled $336.7 million, a decrease of $3.7 million compared to Q1 2024, with an efficiency ratio of 59.83%[45]. - Personnel expenses decreased by $11.6 million compared to Q1 2024, primarily due to a $7.1 million decrease in cash-based incentive compensation[46]. - Operating expenses increased by $6.0 million or 9% compared to Q1 2024, primarily due to an increase in other expenses[58]. - Total other operating expense for the three months ended June 30, 2024, was $336,690 thousand, compared to $318,673 thousand in 2023, reflecting an increase of 5.7%[183]. Capital and Equity - The tangible common equity ratio improved to 8.38% at June 30, 2024, up from 8.21% at March 31, 2024[10]. - Common equity Tier 1 capital ratio was 12.10% at June 30, 2024, compared to 11.99% at March 31, 2024[10]. - The company’s equity capital was $5.2 billion, reflecting a $100 million increase from March 31, 2024[144]. - Total shareholders' equity increased to $5,229,130 million, up from $5,128,751 million in the previous period[152]. - Return on average equity was 12.79% for the quarter ended June 30, 2024, compared to 6.53% for the previous quarter[148]. Market and Economic Outlook - The company anticipates growth in operating revenues through new product offerings and market expansion, despite potential economic and regulatory challenges[26]. - The probability-weighted economic scenario forecast includes a 50% base case, 35% downside, and 15% upside, with GDP growth projected at 1.7% over the next 12 months[117]. - A stress test measures market risk from interest rate changes, with a $20 million market risk limit approved for mortgage servicing rights net of economic hedges[165]. - The company has implemented strategies to manage balance sheet exposure to interest rate changes within established policy limits[160]. - Forward-looking statements indicate that actual results may differ due to various risks and uncertainties, including changes in interest rates and market conditions[180].

BOK Financial Corporation (NASDAQ:BOKF) Q2 2024 Earnings Conference Call July 23, 2024 1:00 PM ET Company Participants Heather King - Director of Investor Relations Stacy Kymes - President and Chief Executive Officer Martin Grunst - Executive Vice President and Chief Financial Officer Marc Maun - Executive Vice President, Regional Banking Scott Grauer - Executive Vice President, Wealth Management Conference Call Participants Michael Rose - Raymond James Brett Rabatin - Hovde Group Jon Arfstrom - RBC Capital ...

Core Viewpoint - BOK Financial Corporation's second-quarter 2024 adjusted earnings per share (EPS) of $2.02 exceeded expectations but declined compared to the previous year, indicating mixed financial performance driven by higher loans and deposits but hindered by lower net interest revenues [2][15]. Financial Performance - Adjusted EPS of $2.02 surpassed the Zacks Consensus Estimate of $1.89 but fell from $2.27 a year ago [2]. - Net income attributable to shareholders was $131.1 million, down 14.6% year over year, excluding certain gains and expenses [3]. - Quarterly net revenues were $496.1 million, a decrease of 6.6% year over year, missing the consensus estimate of $520.4 million [5]. - Net interest revenues were $296 million, down 8.1% year over year, with a net interest margin decline of 44 basis points to 2.56% [5]. Revenue and Expenses - Total fees and commissions were $200 million, down 0.2% year over year, with mixed performance across different revenue streams [6]. - Total other operating expenses decreased by 1.1% year over year to $336.7 million, primarily due to reduced personnel expenses [6]. Asset Quality and Provisions - Non-performing assets were $93 million, or 0.38% of outstanding loans, down from $136.5 million or 0.59% a year ago [8]. - Provisions for credit losses were $8 million, a significant decrease of 52.9% from the prior year [9]. - Net charge-offs increased to $6.9 million, up 3.6% year over year, with the allowance for loan losses at 1.17% of outstanding loans [10]. Capital Ratios and Profitability - Common equity Tier 1 capital ratio was 12.10%, slightly down from 12.12% a year ago [11]. - Return on average equity improved to 12.79% from 12.28% year over year, while return on average assets increased to 1.29% from 1.27% [12]. Share Repurchase Activity - During the second quarter, the company repurchased approximately 0.41 million shares at an average price of $90.38 per share [14].

For the quarter ended June 2024, BOK Financial (BOKF) reported revenue of $496.05 million, down 6.6% over the same period last year. EPS came in at $2.02, compared to $2.27 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $520.43 million, representing a surprise of -4.69%. The company delivered an EPS surprise of +6.88%, with the consensus EPS estimate being $1.89. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and ...