Economic Growth and Inflation - U.S. economic growth slowed more than expected in the fourth quarter, with GDP increasing at a 1.4% annualized rate compared to a forecast of 3.0% [2][10] - Underlying U.S. inflation increased more than anticipated in December, indicating further acceleration in January, leading traders to expect a potential interest-rate cut by the Fed in June [3][11] Stock Market Performance - The main U.S. stock indexes declined, with the Dow Jones Industrial Average falling 105.01 points (0.21%), the S&P 500 losing 16.50 points (0.24%), and the Nasdaq Composite dropping 66.81 points (0.29%) [11] - Eight of the 11 S&P sectors declined, particularly information technology and consumer discretionary, with major stocks like Tesla and Nvidia trading lower [8][11] Private Equity and Technology Sector - Private capital firm Blue Owl Capital experienced a significant drop of 6.5% after a previous decline of 5.9%, due to investor concerns over its strategy to return capital and halt redemptions [8][11] - Other private equity firms, including KKR & Co and Apollo Global Management, also saw declines of around 1% each [9][11] - Technology stocks faced pressure from concerns over high valuations and the effectiveness of AI investments, with companies like Akamai Technologies and Copart reporting significant losses [9][11]

TULSA, OK / ACCESS Newswire / February 19, 2026 / BOK Financial announced that Brad Vincent, specialized industries banking executive, will retire effective Nov. 30, after 29 years with the company and over four decades in the industry. BOK Financial expects a successor to be named in early April. ...

Financial Performance - Net income for the year ended December 31, 2025, totaled $578.0 million, or $9.17 per diluted share, compared to $523.6 million, or $8.14 per diluted share, for 2024[134]. - Net income for the fourth quarter of 2025 was $177.3 million, or $2.89 per diluted share, compared to $140.9 million, or $2.22 per diluted share, for the third quarter[136]. - The return on average assets was 1.12% for 2025, up from 1.03% in 2024, while the return on average shareholders' equity was 9.89%[131]. - Net income for the year ended December 31, 2025, was $577,978, compared to $523,553 in 2024, reflecting a growth of 10.4%[159]. - Earnings per share for 2025 was $9.17, up from $8.14 in 2024, indicating a year-over-year increase of 12.7%[159]. Assets and Deposits - BOK Financial reported total consolidated assets of $52 billion as of December 31, 2025[16]. - Average deposits grew by $2.4 billion to $38.7 billion, with period-end deposits increasing by $1.2 billion to $39.4 billion[137]. - Total assets as of December 31, 2025, reached $51,706,906, an increase from $50,749,498 in 2024[158]. - Total interest-bearing deposits increased to $30,740,981 in 2025, up from $27,902,808 in 2024, representing a growth of 10.0%[159]. Revenue and Income Sources - Net interest income reached $1.3 billion for 2025, a $116.6 million increase from the prior year, with a net interest margin of 2.87% compared to 2.65% in 2024[135]. - Fees and commissions revenue was $800.7 million for 2025, consistent with the prior year, while brokerage and trading revenue decreased by $58.4 million[135]. - Other operating revenue for 2025 was $848.1 million, an increase of $8.5 million, or 1%, compared to 2024[180]. - Mortgage banking revenue totaled $77.6 million in 2025, a $3.5 million, or 5%, increase from 2024, with mortgage servicing revenue accounting for $68.9 million[183]. Expenses and Costs - Other operating expenses increased by $67.1 million to $1.4 billion, with personnel expenses growing by $66.7 million due to merit increases and business expansion[135]. - Personnel expense for 2025 was $878.0 million, an increase of $66.7 million, or 8%, driven by merit increases and higher loan volumes[196]. - Other operating expense for 2025 totaled $1.4 billion, a $67.1 million, or 5%, increase over the prior year[194]. - Income tax expense for 2025 was $162.6 million, or 22.0% of net income before taxes, compared to $143.1 million, or 21.5%, for 2024[202]. Market Position and Competition - The company holds 14% of total deposits in Oklahoma, with 33% market share in Tulsa and 13% in Oklahoma City[23]. - BOK Financial competes with various financial institutions, including large national banks and regional banks, across its operational areas[22]. - The company has a market share of approximately 1% in the Dallas-Fort Worth area and less than 1% in Houston and San Antonio[24]. - BOK Financial faces substantial competition from various financial institutions, including large national banks with greater access to capital[63]. Regulatory Environment - The company is subject to extensive regulations under federal and state laws, particularly due to the Dodd-Frank Act[26]. - Regulatory changes and increased compliance costs are anticipated as BOK Financial's asset size exceeds $50 billion, potentially limiting growth[68]. - The Company continues to perform capital stress testing regularly despite the elimination of the Dodd-Frank Act Stress Test requirement for banks with assets less than $250 billion[47]. Risk Factors - BOK Financial's business is highly sensitive to changes in interest rates, which could affect loan origination and net interest income[79]. - A significant increase in market interest rates could lead to higher nonperforming assets and net charge-offs, adversely affecting BOK Financial's business[80]. - The company faces liquidity risks due to potential disruptions in funding sources, including reliance on the Federal Home Loan Bank[86]. - Climate change and related regulations present physical and transition risks that could adversely affect BOK Financial and its customers[71]. Employee and Operational Insights - BOK Financial employs 5,034 full-time and part-time employees, with the majority being full-time[25]. - The company faces challenges in hiring and retaining qualified employees, particularly in technology roles, which are critical for strategic initiatives[103]. - The company is heavily reliant on third-party vendors for critical infrastructure, which poses operational risks and potential service disruptions[97]. Shareholder and Capital Management - The principal shareholder controls approximately 63% of the company's common stock, which could affect market price and governance[100]. - The company repurchased 2,982,961 shares under its stock repurchase plan as of December 31, 2025, with a maximum of 5 million shares authorized for repurchase[129]. - The dividend payout ratio for 2025 was 25.41%, a decrease from 27.20% in 2024[131].

Core Insights - BOK Financial (BOKF) is experiencing solid improvement in earnings estimates, which may lead to continued short-term price momentum [1] - Analysts are increasingly optimistic about BOK Financial's earnings prospects, as reflected in the upward trend of estimate revisions [2] - The Zacks Rank system indicates a strong correlation between earnings estimate revisions and stock price movements, with BOK Financial currently holding a Zacks Rank 1 (Strong Buy) [3][9] Current-Quarter Estimate Revisions - The earnings estimate for the current quarter is $2.29 per share, representing a year-over-year increase of +23.1% [6] - Over the past 30 days, the Zacks Consensus Estimate for BOK Financial has risen by 10.63%, with one estimate moving higher and no negative revisions [6] Current-Year Estimate Revisions - For the full year, BOK Financial is expected to earn $9.79 per share, reflecting a year-over-year change of +11.8% [7] - The consensus estimate has increased by 9.09% over the past month, with two estimates moving higher and no negative revisions [8] Favorable Zacks Rank - The positive estimate revisions have contributed to BOK Financial achieving a Zacks Rank 1 (Strong Buy), which is associated with significant outperformance compared to the S&P 500 [9] - Stocks with Zacks Rank 1 and 2 are shown to significantly outperform the market [9] Bottom Line - BOK Financial's strong estimate revisions have led to an 8.7% increase in stock price over the past four weeks, indicating potential for further upside [10]

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1] Company Overview: BOK Financial (BOKF) - BOK Financial currently holds a Momentum Style Score of A, indicating strong momentum potential [3] - The company has a Zacks Rank of 1 (Strong Buy), which historically outperforms the market [4] Price Performance - BOKF shares have increased by 3.05% over the past week, while the Zacks Banks - Southwest industry remained flat [6] - Over the past month, BOKF's price change is 8.03%, significantly outperforming the industry's 0.66% [6] - In the last quarter, BOKF shares rose by 24.24%, and over the past year, they gained 17.86%, compared to the S&P 500's increases of 2.61% and 15.23%, respectively [7] Trading Volume - The average 20-day trading volume for BOKF is 285,453 shares, which serves as a bullish indicator when combined with rising stock prices [8] Earnings Outlook - In the past two months, two earnings estimates for BOKF have been revised upwards, with no downward revisions, raising the consensus estimate from $8.95 to $9.40 [10] - For the next fiscal year, one estimate has increased, with no downward revisions noted [10] Conclusion - Given the strong momentum indicators and positive earnings outlook, BOKF is positioned as a strong buy candidate for investors seeking short-term opportunities [12]

Core Viewpoint - Barclays maintains a "Positive" rating for BOK Financial Corporation (BOKF) and raises the price target from $125 to $135, indicating confidence in the company's future performance [2][5]. Group 1: Company Overview - BOK Financial Corporation is a prominent financial services company in the United States, offering services such as commercial banking, mortgage banking, and wealth management [1]. - The company competes with major financial institutions like JPMorgan Chase and Wells Fargo [1]. Group 2: Stock Performance - BOKF's stock price recently reached a high of $131.52, with a current price of $129.78, reflecting a 1.22% increase [2][5]. - The stock has shown substantial growth over the past year, with a low of $85.08 [4]. - Today's trading volume for BOKF is 413,849 shares, indicating active investor interest [4]. Group 3: Financial Health - BOK Financial's market capitalization is approximately $8.21 billion, highlighting its significant presence in the financial sector [3][5]. - Insights from the recent Q4 2025 earnings call likely discussed earnings, revenue, and strategic direction, providing valuable information for investors [3].

Core Viewpoint - BOK Financial Corporation (BOKF) is positioned for potential growth, as indicated by a new price target set by Raymond James and recent performance metrics [2][6]. Financial Performance - BOK Financial recently held its Q4 2025 earnings call, providing insights into its financial performance and strategic direction [3][6]. - The company's stock price is currently $129.78, reflecting an increase of $1.57, or 1.22% [4]. - The stock has fluctuated between a low of $127.39 and a high of $131.52 today, with the latter being its highest point in the past year [4]. Market Position - BOK Financial has a market capitalization of approximately $8.21 billion, indicating its size and influence in the financial sector [5]. - Today's trading volume for BOKF is 413,849 shares, demonstrating active investor interest and engagement with the stock [5]. Price Target and Growth Potential - Raymond James has set a new price target of $140 for BOKF, suggesting a potential increase of 7.87% from its current trading price [2][6].

Core Insights - BOK Financial Corporation (BOKF) reported strong financial performance with an EPS of $2.91, exceeding the estimated EPS of $2.16, indicating robust operational efficiency and strategic direction [2][6] - The company's revenue for Q4 2025 reached approximately $560.1 million, surpassing the estimated revenue of $549.4 million, driven by growth in loans and deposits [3][6] - BOKF's net interest margin expanded to 2.98%, supported by reduced funding costs and disciplined expense management, reflecting strong financial health [4][6] Financial Performance - Loans increased by 3.2% sequentially to $25.6 billion, while deposits rose by 2.4% to $39.4 billion, indicating sustained economic momentum in key markets [3] - Adjusted net income per share reached $2.48, surpassing the Zacks Consensus Estimate of $2.13, marking a 16.9% increase from the previous year [4] - The company has a P/E ratio of approximately 13.68 and a price-to-sales ratio of about 2.47, reflecting its market valuation [5] Operational Metrics - The enterprise value to sales ratio is around 3.56, while the enterprise value to operating cash flow ratio is approximately 7.80, indicating the company's ability to generate cash from operations [5] - The earnings yield stands at about 7.31%, and the debt-to-equity ratio is approximately 0.78, showcasing BOKF's financial health [5]

Financial Data and Key Metrics Changes - The company reported earnings of $177.3 million for Q4 2025, with an EPS of $2.89, and full-year earnings reached $578 million, or $9.17 per diluted share, marking record highs for both the quarter and the year [3][4] - Loan balances increased by over $1.5 billion, or 6.4% for the year, with a sequential growth of $786 million, or 3.2% in Q4 [3][6] - Net interest income grew by $7.6 million, and the net interest margin expanded by seven basis points [14][4] Business Line Data and Key Metrics Changes - Fee income contributed $801 million to revenue, representing 38% of total revenue, with a sequential increase of 5.1% [4][11] - The Fiduciary and Asset Management and Transaction Card lines achieved record revenue for both the quarter and the full year, with AUMA surpassing $126 billion [7][12] - The core C&I loan portfolio grew by 5.5% sequentially, while healthcare loans increased by 3.3% [8][6] Market Data and Key Metrics Changes - Growth in Texas was particularly strong, contributing $561 million to total growth in Q4 [6] - The company outperformed the KBW Regional Banking Index in total shareholder return over one, three, five, and ten-year periods by 7%, 3%, 42%, and 51%, respectively [4] Company Strategy and Development Direction - The company aims to create long-term sustainable shareholder value while maintaining a disciplined approach to risk management [3] - Future loan growth is expected to be in the upper single digits, with net interest income projected to be between $1.44 billion and $1.48 billion for 2026 [16][17] - The company is focused on investing in growth areas while aligning its expense base with future needs [17][41] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's performance and the path ahead, highlighting the diverse growth across various lending types and geographies [5][21] - The outlook for credit quality remains strong, with expectations of net charge-offs remaining below historical norms [10][59] - Management noted that while credit normalization is expected in the long term, the current environment remains favorable [10][59] Other Important Information - The company repurchased over 2.6 million shares at an average price of $107.99 per share during the quarter [7] - Total expenses decreased by $8.7 million, with personnel expenses down by $3.6 million [15] Q&A Session Summary Question: Drivers of Upper Single-Digit Loan Growth - Management highlighted diverse growth across geography and lending types, with significant contributions from the mortgage finance business [20][21] Question: Future Share Buybacks and CET1 Ratio - Management indicated that share buybacks would be opportunistic and not tied to a specific CET1 ratio [23] Question: Deposit Growth and Competition - Management noted that while competition for deposits remains high, it is at a normal level without irrational behavior in the market [30][31] Question: Fee Income Expectations - Management expects mid-single-digit growth in fee income, with trading revenue potentially shifting to net interest income due to market conditions [37][39] Question: Outlook for Expenses and Efficiency - Management anticipates a strong efficiency outlook with a target efficiency ratio of 63%-64% for 2026 [40][41] Question: Mortgage Finance Business Contribution - Management expects the mortgage finance business to reach a billion in commitments by the end of 2026, with a significant portion funded [46] Question: Capital Deployment Opportunities - Management remains open to M&A opportunities but prioritizes loan growth and is cautious about deploying capital aggressively [93][94]

Financial Data and Key Metrics Changes - The company reported earnings of $177.3 million, or EPS of $2.89 per diluted share for Q4 2025, with full-year earnings reaching $578 million, or $9.17 per diluted share, marking record highs for both the quarter and the year [3][4] - Loan balances expanded by more than $1.5 billion, or 6.4% for the year, with a sequential growth of $786 million, or 3.2% in Q4 [3][5] - Net interest income increased by $7.6 million, with net interest margin expanding by seven basis points [12][4] Business Line Data and Key Metrics Changes - The fee income engine contributed $801 million to revenue, representing 38% of total revenue, with total fee income increasing by 5.1% sequentially [4][10] - The core C&I loan portfolio grew by 5.5% sequentially, while healthcare loans increased by 3.3% and energy loans grew by over $200 million [6][7] - Commercial real estate loans decreased by 1.4% quarter-over-quarter but increased by 12.1% year-over-year [7] Market Data and Key Metrics Changes - The company outperformed the KBWF Regional Bank Index in total shareholder return over one, three, five, and ten-year periods by 7%, 3%, 42%, and 51% respectively [4] - The capital levels remained robust, with tangible common equity at 9.5% and CET1 at 12.9% [6] Company Strategy and Development Direction - The company aims for upper single-digit loan growth in 2026, reflecting continued growth in the existing portfolio and contributions from the new mortgage finance segment [15] - The strategy includes maintaining a disciplined approach to risk management while investing in long-term sustainable shareholder value [3][4] - The company is opportunistic regarding share buybacks and M&A opportunities, focusing on intrinsic strategic value [81][82] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate the current environment and capitalize on market disruptions [89] - The outlook for credit quality remains strong, with expectations of net charge-offs remaining below historical norms [9][56] - Management anticipates that credit normalization will occur over the long term, but no immediate concerns are evident [9][56] Other Important Information - The company repurchased over 2.6 million shares at an average price of $107.99 per share during the quarter [6] - A notable pre-tax gain of $23.5 million was recognized from exiting a merchant banking investment [13] Q&A Session Questions and Answers Question: Can you provide more detail on the drivers of upper single-digit loan growth? - Management noted that loan growth has been diverse across geography and lending types, with significant contributions from various segments, including a $100 million increase from the mortgage finance business in Q4 [20] Question: How are you thinking about future share buybacks? - Management indicated that share buybacks are opportunistic and linked to the company's long history of shareholder value orientation [22] Question: Can you discuss the competition for deposits and the outlook for deposit growth? - Management described the deposit environment as competitive but rational, with expectations for loan growth to exceed deposit growth [30] Question: What are the expectations for fee income growth? - Management expects mid-single-digit growth in fee income, with a shift from fee income to net interest income anticipated due to the steepening yield curve [73] Question: How do you plan to fund the mortgage finance business as it grows? - The mortgage finance business will be funded through a mix of wholesale and core deposits, maintaining a strong funding profile [59] Question: What are the expectations for credit quality moving forward? - Management expects credit quality to remain strong in the short term, with loan growth and economic outlook being the primary drivers for provision levels [56]