BOK Financial Corporation (BOKF) is about to show us what it's been up to. The Oklahoma-based bank will report fourth-quarter earnings before the market opens on Friday, January 16, and Wall Street's top analysts have been busy adjusting their expectations.
Analysts are projecting earnings of $2.16 per share for the quarter, a modest uptick from the $2.12 per share BOK Financial posted a year ago. Revenue estimates sit at $549.37 million, compared to $525.56 million in last year's fourth quarter. So we're looking at growth on both fronts, which is generally what you want to see.
The company gave investors something to feel good about back in October when it delivered better-than-expected third-quarter results. That momentum seems to be holding. Shares climbed 2.1% on Thursday to close at $127.69.
What the Smart Money Is Saying
Recent months have brought a flurry of analyst activity around BOKF. Here's how some of Wall Street's most accurate forecasters are positioning themselves:
Wells Fargo's Timur Braziler, who maintains a 66% accuracy rate, kept his Equal-Weight rating on January 5 but bumped his price target from $105 to $115. That's a meaningful increase, suggesting he sees more upside than he did previously.
Barclays analyst Jared Shaw, sporting a 70% accuracy rate, also stuck with an Equal-Weight rating on December 19 while raising his target from $120 to $125. Moving price targets higher while maintaining neutral ratings often signals that the stock has performed well but may be fairly valued at current levels.
Not everyone is staying bullish, though. Hovde Group's Brett Rabatin downgraded BOK Financial from Outperform to Market Perform on December 12. With a 61% accuracy rate, Rabatin's move suggests some caution is warranted despite the stock's recent strength.
DA Davidson analyst Peter Winter remains the most optimistic, maintaining a Buy rating on October 22 while nudging his price target from $120 to $122. Winter boasts the highest accuracy rate of the group at 75%, so his continued confidence carries some weight.
Meanwhile, Keefe, Bruyette & Woods analyst Wood Lay kept a Market Perform rating but actually trimmed his price target from $118 to $116 on October 22, making him the most conservative voice in this bunch. His 65% accuracy rate puts him solidly in the middle of the pack.
The picture that emerges is one of cautious optimism. Nobody is pounding the table to buy, but most analysts see decent value around current levels. Friday morning's earnings report should give us a clearer sense of whether that optimism is justified.
