BOK Financial (BOKF)
Market Price (6/9/2026): $128.92 | Market Cap: $7.7 BilSector: Financials | Industry: Regional Banks
BOK Financial (BOKF)
Market Price (6/9/2026): $128.92Market Cap: $7.7 BilSector: FinancialsIndustry: Regional Banks
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 9.9%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 5.6%, FCF Yield is 6.1% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 22%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 22% Low stock price volatilityVol 12M is 24% Megatrend and thematic driversMegatrends include Fintech & Digital Payments. Themes include Online Banking & Lending, Digital Payments, and Wealth Management Technology. | Weak multi-year price returns3Y Excs Rtn is -8.9% | Key risksBOKF key risks include [1] significant credit exposure to the volatile energy industry, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 9.9%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 5.6%, FCF Yield is 6.1% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 22%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 22% |
| Low stock price volatilityVol 12M is 24% |
| Megatrend and thematic driversMegatrends include Fintech & Digital Payments. Themes include Online Banking & Lending, Digital Payments, and Wealth Management Technology. |
| Weak multi-year price returns3Y Excs Rtn is -8.9% |
| Key risksBOKF key risks include [1] significant credit exposure to the volatile energy industry, Show more. |
Qualitative Assessment
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Updated on 6/1/2026
BOK Financial (BOKF) stock has gained about 5% since 2/28/2026 because of the following key factors:
1. Mixed Q1 2026 Earnings Performance. BOK Financial reported stronger-than-expected diluted earnings per share (EPS) of $2.58 for Q1 2026, surpassing consensus estimates that ranged from $2.30 to $2.38. Net income increased to $155.8 million, up from $119.8 million a year earlier. The company also demonstrated robust loan growth, with total loans increasing 2.1% sequentially and 10.5% year-over-year to $26.2 billion. However, these positives were tempered by a sequential decline in net interest margin (NIM) by 8 basis points to 2.90% and a 1.9% sequential decrease in deposits to $38.7 billion. This combination of strong operational performance in loan growth and credit quality, alongside pressures on margins and deposits, likely resulted in a balanced market reaction, contributing to the stock's relatively stable price.
2. Neutral Analyst Sentiment and Price Targets. Analysts generally maintained a neutral stance on BOK Financial, with a consensus "Hold" rating from brokerages (8 out of 11 firms). The average 12-month price target among analysts was approximately $134.91, which closely aligns with the stock's trading levels during the period (e.g., $128.04 on May 29, 2026). While some analysts raised their price targets (e.g., Barclays to $145 and RBC Capital to $145), others maintained or downgraded their ratings (e.g., Zacks Research downgraded to "Hold"), indicating a lack of strong conviction for significant upward momentum.
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BOK Financial (BOKF) stock has gained about 5% since 2/28/2026 because of the following key factors:
1. Mixed Q1 2026 Earnings Performance. BOK Financial reported stronger-than-expected diluted earnings per share (EPS) of $2.58 for Q1 2026, surpassing consensus estimates that ranged from $2.30 to $2.38. Net income increased to $155.8 million, up from $119.8 million a year earlier. The company also demonstrated robust loan growth, with total loans increasing 2.1% sequentially and 10.5% year-over-year to $26.2 billion. However, these positives were tempered by a sequential decline in net interest margin (NIM) by 8 basis points to 2.90% and a 1.9% sequential decrease in deposits to $38.7 billion. This combination of strong operational performance in loan growth and credit quality, alongside pressures on margins and deposits, likely resulted in a balanced market reaction, contributing to the stock's relatively stable price.
2. Neutral Analyst Sentiment and Price Targets. Analysts generally maintained a neutral stance on BOK Financial, with a consensus "Hold" rating from brokerages (8 out of 11 firms). The average 12-month price target among analysts was approximately $134.91, which closely aligns with the stock's trading levels during the period (e.g., $128.04 on May 29, 2026). While some analysts raised their price targets (e.g., Barclays to $145 and RBC Capital to $145), others maintained or downgraded their ratings (e.g., Zacks Research downgraded to "Hold"), indicating a lack of strong conviction for significant upward momentum.
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Stock Movement Drivers
Fundamental Drivers
The 3.1% change in BOKF stock from 2/28/2026 to 6/8/2026 was primarily driven by a 3.9% change in the company's Net Income Margin (%).| (LTM values as of) | 2282026 | 6082026 | Change |
|---|---|---|---|
| Stock Price ($) | 125.11 | 128.94 | 3.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,097 | 2,144 | 2.2% |
| Net Income Margin (%) | 27.6% | 28.6% | 3.9% |
| P/E Multiple | 13.2 | 12.6 | -4.4% |
| Shares Outstanding (Mil) | 61 | 60 | 1.4% |
| Cumulative Contribution | 3.1% |
Market Drivers
2/28/2026 to 6/8/2026| Return | Correlation | |
|---|---|---|
| BOKF | 3.1% | |
| Market (SPY) | 8.1% | 45.0% |
| Sector (XLF) | 1.6% | 66.7% |
Fundamental Drivers
The 15.6% change in BOKF stock from 11/30/2025 to 6/8/2026 was primarily driven by a 7.5% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 11302025 | 6082026 | Change |
|---|---|---|---|
| Stock Price ($) | 111.54 | 128.94 | 15.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,994 | 2,144 | 7.5% |
| Net Income Margin (%) | 26.9% | 28.6% | 6.4% |
| P/E Multiple | 13.1 | 12.6 | -3.4% |
| Shares Outstanding (Mil) | 63 | 60 | 4.7% |
| Cumulative Contribution | 15.6% |
Market Drivers
11/30/2025 to 6/8/2026| Return | Correlation | |
|---|---|---|
| BOKF | 15.6% | |
| Market (SPY) | 8.8% | 38.2% |
| Sector (XLF) | -1.7% | 59.8% |
Fundamental Drivers
The 39.4% change in BOKF stock from 5/31/2025 to 6/8/2026 was primarily driven by a 20.1% change in the company's P/E Multiple.| (LTM values as of) | 5312025 | 6082026 | Change |
|---|---|---|---|
| Stock Price ($) | 92.47 | 128.94 | 39.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,982 | 2,144 | 8.1% |
| Net Income Margin (%) | 28.2% | 28.6% | 1.5% |
| P/E Multiple | 10.5 | 12.6 | 20.1% |
| Shares Outstanding (Mil) | 64 | 60 | 5.9% |
| Cumulative Contribution | 39.4% |
Market Drivers
5/31/2025 to 6/8/2026| Return | Correlation | |
|---|---|---|
| BOKF | 39.4% | |
| Market (SPY) | 26.9% | 47.1% |
| Sector (XLF) | 3.6% | 62.5% |
Fundamental Drivers
The 69.9% change in BOKF stock from 5/31/2023 to 6/8/2026 was primarily driven by a 55.3% change in the company's P/E Multiple.| (LTM values as of) | 5312023 | 6082026 | Change |
|---|---|---|---|
| Stock Price ($) | 75.89 | 128.94 | 69.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,985 | 2,144 | 8.0% |
| Net Income Margin (%) | 31.2% | 28.6% | -8.3% |
| P/E Multiple | 8.1 | 12.6 | 55.3% |
| Shares Outstanding (Mil) | 66 | 60 | 10.5% |
| Cumulative Contribution | 69.9% |
Market Drivers
5/31/2023 to 6/8/2026| Return | Correlation | |
|---|---|---|
| BOKF | 69.9% | |
| Market (SPY) | 83.8% | 51.0% |
| Sector (XLF) | 71.7% | 66.9% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| BOKF Return | 58% | 1% | -15% | 27% | 14% | 10% | 114% |
| Peers Return | 29% | -28% | 25% | 8% | 29% | -0% | 62% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 8% | 97% |
Monthly Win Rates [3] | |||||||
| BOKF Win Rate | 75% | 42% | 33% | 67% | 67% | 67% | |
| Peers Win Rate | 44% | 50% | 56% | 50% | 65% | 48% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| BOKF Max Drawdown | -19% | -38% | -38% | -11% | -23% | -9% | |
| Peers Max Drawdown | -22% | -39% | -36% | -25% | -24% | -23% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: NEWT, ATLO, AGBK, NU, FITB.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/8/2026 (YTD)
How Low Can It Go
| Event | BOKF | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -20.7% | -18.8% |
| % Gain to Breakeven | 26.1% | 23.1% |
| Time to Breakeven | 133 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -29.1% | -9.5% |
| % Gain to Breakeven | 41.0% | 10.5% |
| Time to Breakeven | 132 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -27.0% | -6.7% |
| % Gain to Breakeven | 37.0% | 7.1% |
| Time to Breakeven | 432 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -31.8% | -24.5% |
| % Gain to Breakeven | 46.7% | 32.4% |
| Time to Breakeven | 105 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -55.8% | -33.7% |
| % Gain to Breakeven | 126.4% | 50.9% |
| Time to Breakeven | 297 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -26.7% | -19.2% |
| % Gain to Breakeven | 36.4% | 23.8% |
| Time to Breakeven | 800 days | 105 days |
In The Past
BOK Financial's stock fell -20.7% during the 2025 US Tariff Shock. Such a loss loss requires a 26.1% gain to breakeven.
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Asset Allocation
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| Event | BOKF | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -20.7% | -18.8% |
| % Gain to Breakeven | 26.1% | 23.1% |
| Time to Breakeven | 133 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -29.1% | -9.5% |
| % Gain to Breakeven | 41.0% | 10.5% |
| Time to Breakeven | 132 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -27.0% | -6.7% |
| % Gain to Breakeven | 37.0% | 7.1% |
| Time to Breakeven | 432 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -31.8% | -24.5% |
| % Gain to Breakeven | 46.7% | 32.4% |
| Time to Breakeven | 105 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -55.8% | -33.7% |
| % Gain to Breakeven | 126.4% | 50.9% |
| Time to Breakeven | 297 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -26.7% | -19.2% |
| % Gain to Breakeven | 36.4% | 23.8% |
| Time to Breakeven | 800 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -31.4% | -12.2% |
| % Gain to Breakeven | 45.7% | 13.9% |
| Time to Breakeven | 171 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -30.8% | -6.8% |
| % Gain to Breakeven | 44.6% | 7.3% |
| Time to Breakeven | 133 days | 15 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -55.7% | -53.4% |
| % Gain to Breakeven | 125.6% | 114.4% |
| Time to Breakeven | 373 days | 1085 days |
In The Past
BOK Financial's stock fell -20.7% during the 2025 US Tariff Shock. Such a loss loss requires a 26.1% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About BOK Financial (BOKF)
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 three segments: Commercial Banking, Consumer Banking, and Wealth Management. The Commercial Banking segment offers lending, treasury, cash management, and customer commodity risk management products for small businesses, middle market, and larger commercial customers, as well as operates TransFund electronic funds transfer network. The Consumer Banking segment provides lending and deposit services to small business customers through consumer branch network; and engages in the mortgage loan origination and servicing activities. The Wealth Management segment offers fiduciary, private bank, insurance, and investment advisory services; and brokerage and trading services primarily related to providing liquidity to the mortgage markets through trading of U.S. government agency mortgage-backed securities and related derivative contracts, as well as underwrites state and municipal securities. The company also provides commercial loans, such as loans for working capital, facilities acquisition or expansion, purchases of equipment, and other needs of commercial customers; and service, healthcare, manufacturing, wholesale/retail, energy, and other sector loans. In addition, it offers commercial real estate loans for the construction of buildings or other enhancements to real estate and property held by borrowers for investment purposes; and residential mortgage and personal loans. Further, the company provides automated teller machine (ATM), call center, and Internet and mobile banking services. As of December 31, 2021, it operated 2,593 TransFund ATM locations. The company was founded in 1910 and is headquartered in Tulsa, Oklahoma.
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It's like a regional Bank of America, but primarily serving the South Central U.S. states.
Think of it as a full-service regional bank, similar to U.S. Bank, but concentrated in Oklahoma, Texas, and nearby states.
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```html- Commercial Lending Services: Provides various loans to small businesses, middle market, and larger commercial customers for working capital, equipment, and real estate.
- Consumer Lending Services: Offers residential mortgage loans and personal loans to individual consumers and small businesses through consumer channels.
- Deposit Services: Provides a range of deposit accounts for businesses and individual customers.
- Treasury and Cash Management: Delivers solutions for businesses to manage their cash flow, payments, and liquidity.
- Wealth Management Services: Offers fiduciary, private banking, insurance, and investment advisory services to clients.
- Brokerage and Trading Services: Provides trading services primarily focused on U.S. government agency mortgage-backed securities and related derivatives.
- Municipal Securities Underwriting: Underwrites state and municipal bonds.
- TransFund Electronic Funds Transfer (EFT) Network: Operates a network facilitating electronic transactions, including ATM services.
- Customer Commodity Risk Management: Offers products to help commercial customers mitigate commodity price risks.
- Digital Banking Services: Provides internet and mobile banking platforms for convenient access to financial services.
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```htmlBOK Financial (BOKF) serves a diverse customer base encompassing individuals, small businesses, and larger commercial and institutional clients. While the company has extensive commercial offerings, identifying specific named major customer companies is not feasible as banks typically serve numerous businesses and do not publicly disclose individual client names. Given the broad range of services provided to individuals and the intent to categorize customer types for a financial institution, the major customers can be described across the following categories:
- Individual Consumers: This category includes individuals utilizing general banking services such as deposit accounts, residential mortgage loans, personal loans, and accessing services via ATMs, call centers, internet, and mobile banking. It also encompasses high-net-worth individuals who receive private banking, insurance, and investment advisory services through the Wealth Management segment.
- Small Businesses: BOK Financial specifically targets small business customers, providing them with lending, deposit, treasury, and cash management services. These services are offered through both the Commercial Banking and Consumer Banking segments.
- Middle Market and Larger Commercial & Institutional Customers: This segment comprises a wide range of businesses, from middle market to large commercial entities across various sectors (e.g., service, healthcare, manufacturing, wholesale/retail, energy). BOK Financial offers them extensive commercial loans (for working capital, facilities, equipment), commercial real estate loans, treasury and cash management, and customer commodity risk management products. This category also includes institutional clients benefiting from fiduciary services and those involved in mortgage markets through brokerage and trading services, as well as state and municipal entities for whom the company underwrites securities.
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Stacy Kymes, President and Chief Executive Officer
Stacy Kymes is the President and CEO of BOK Financial Corporation, a position he assumed in January 2022. He joined the company in 1996 and has served in numerous leadership capacities, including chief operating officer, executive vice president overseeing specialized banking areas (such as energy, commercial real estate, healthcare, and treasury services), chief auditor, corporate controller, treasurer, and chief credit officer. Kymes began his career at KPMG LLP, where he audited public and private companies within the financial services sector. He has also been actively involved in economic development projects in Tulsa, including fundraising for a new minor league ballpark and the privatization of the local zoo.
Marty Grunst, Executive Vice President, Chief Financial Officer
Marty Grunst serves as the Executive Vice President and Chief Financial Officer of BOK Financial, responsible for accounting, finance, tax, corporate treasury, mergers and acquisitions, investor relations, and enterprise data and analytics. He joined BOK Financial in 2009 and previously held roles as chief risk officer and treasurer from 2009 to 2016. Prior to his tenure at BOK Financial, Grunst spent six years as Treasurer of Citizens Bank and Citizens Republic Bancorp and held various treasury and finance positions at Bank One/JPMorgan Chase.
Scott B. Grauer, Executive Vice President, Wealth Management; CEO, BOK Financial Securities, Inc.
Scott Grauer is the Executive Vice President for Wealth Management at BOK Financial Corporation and CEO of its broker/dealer, BOK Financial Securities, Inc. In this role, he oversees all of the company's wealth management business lines, including institutional wealth, the private bank, and international banking, and chairs Cavanal Hill Investment Management. Grauer joined BOK Financial in 1991 following the company's acquisition of an independent retail brokerage operation. He was named manager of BOKF Financial Securities, Inc. retail in 1996 and became president and CEO of the firm in late 1999, taking responsibility for retail, institutional, and investment banking activities.
Mindy Mahaney, Executive Vice President, Chief Risk Officer
Mindy Mahaney is the Executive Vice President and Chief Risk Officer for BOK Financial, where she is responsible for enterprise-wide risk management and ensuring compliance with government regulations. She joined BOK Financial in July 2008. Her previous roles at the company include chief operating and administrative officer for the wealth management division and senior business group controller for consumer banking, wealth management, treasury, international services, and the Colorado and Kansas City commercial markets.
Derek S. Martin, Executive Vice President, Chief Information Officer
Derek Martin is the Executive Vice President and Chief Information Officer for BOK Financial. He leads the enterprise operations and information technology division, which supports nearly every aspect of the company. Martin has been with BOK Financial since 1994, holding various positions across the consumer bank, most recently serving as consumer banking executive.
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Here are the key risks to BOK Financial (BOKF):
- Concentrated Exposure to Energy and Commercial Real Estate Sectors: BOK Financial has significant exposure to the energy sector, particularly within its commercial loan portfolio, making its performance highly correlated with crude oil prices. A downturn in the energy sector could negatively impact borrowers' ability to repay loans. Similarly, concentrated exposure to commercial real estate (CRE) also poses a risk, with potential pressures on credit quality if the CRE market experiences a decline.
- Interest Rate Fluctuations: As a financial institution, BOK Financial's profitability is highly sensitive to changes in interest rates. Fluctuations in interest rates can significantly impact the company's net interest margin (NIM). For instance, potential interest rate cuts by the Federal Reserve could put downward pressure on profitability, while rapid changes can affect loan demand and credit quality.
- Intense Competition and Technological Disruption: BOK Financial operates within a highly competitive financial services landscape, facing competition from various entities including regional and national banks, diversified financial firms, and emerging fintech companies. This intense competition can pressure market share and profitability. The need for continuous adaptation and investment in technology to keep pace with innovative solutions offered by competitors also presents a risk.
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Digital-first financial technology companies (Fintechs) and neobanks
Specialized online lenders and alternative credit providers
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BOK Financial (symbol: BOKF) operates in several key financial markets across the United States. The addressable market sizes for their main products and services in the U.S. are as follows:
- Commercial Lending: The U.S. commercial banking market size is estimated at USD 765.53 billion in 2026, with commercial lending constituting a significant portion of this market. Another source indicates the broader global commercial lending market was valued at USD 10,923.28 billion in 2025.
- Cash Management and Treasury Services: The U.S. cash management system market is estimated at USD 21.78 billion in 2026 and is expected to reach USD 30.56 billion by 2031. The demand for cash management services in the USA is projected to grow from USD 1.6 billion in 2025 to USD 3.7 billion by 2035.
- Electronic Funds Transfer (including ATM Networks): The electronic funds transfer market in the U.S. was estimated at USD 90.20 billion in 2025 and is projected to reach USD 174.34 billion by 2032. Specifically for ATM services, the U.S. ATM market size reached approximately USD 7.92 billion in 2025 and is projected to grow to USD 10.14 billion by 2035.
- Consumer Lending: The consumer credit market size in the U.S. is USD 14.1 billion in 2026 and is projected to grow to USD 18.28 billion by 2031.
- Mortgage Lending: The U.S. home loan market is estimated to reach USD 2.42 trillion in 2026 and is forecasted to grow to USD 3.17 trillion by 2031.
- Deposits: Total commercial bank deposits in the U.S. surpassed $18.5 trillion. As of February 25, 2026, total deposits for all commercial banks in the U.S. were approximately USD 18.8 trillion.
- Wealth Management and Investment Advisory Services: The assets under management (AUM) for the investment adviser industry in the U.S. reached $144.6 trillion in 2024. The USA Financial Advisory Market, in terms of assets under management, is expected to grow from USD 90.54 trillion in 2025 to USD 101.74 trillion by 2030.
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Here are 3-5 expected drivers of future revenue growth for BOK Financial (BOKF) over the next 2-3 years:- Robust Loan Growth: BOK Financial anticipates mid to upper single-digit loan growth, particularly driven by its Commercial & Industrial (C&I) and Commercial Real Estate (CRE) portfolios. The company's loan pipelines remain strong across these segments, with significant growth observed in Texas.
- Expansion of Mortgage Finance and Warehouse Lending Division: A significant future growth driver is the planned launch and scaling of a new mortgage finance and warehouse lending division, which began generating initial fundings in Q3 2025 and is expected to contribute more meaningful outstanding balances in 2026. This initiative aims to diversify revenue streams and bolster future loan growth.
- Growth in Fee-Based Businesses: The company emphasizes the strength and diversity of its fee-based businesses, including wealth management, investment banking, and transaction card services. BOK Financial has achieved record investment banking fees and seen impressive growth in assets under management and administration (AUMA) and transaction card revenue, which are expected to continue driving revenue.
- Net Interest Income and Margin Expansion: BOK Financial has experienced consistent expansion in net interest income (NII) and net interest margin (NIM), with expectations for these trends to continue. This is supported by factors such as fixed-rate asset repricing, beneficial repricing of deposits, and overall loan and deposit growth.
- Targeted Geographic and Market Expansion: The company is actively pursuing strategic initiatives to expand its presence in high-growth markets. This includes continued investment in regions like Texas, where it has seen strong Commercial & Industrial loan growth, and strategic entries into new geographical markets such as San Antonio and Houston, with a focus on enhancing its commercial banking operations.
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Share Repurchases
- On July 29, 2025, BOK Financial authorized a new share repurchase plan allowing for the repurchase of up to 5,000,000 shares.
- Between October 1, 2025, and December 31, 2025, the company repurchased 2,617,414 shares for approximately $282.65 million.
- Total buybacks since November 2022 amounted to 4,130,318 shares for $360.17 million by October 22, 2025.
Share Issuance
- BOK Financial's shares outstanding generally declined from 0.069 billion in Q4 2021 to 0.063 billion in Q3 2025, indicating net repurchases rather than significant capital-raising issuances.
- Phantom stock (restricted stock units) issued on February 28, 2023, vested for executives on January 13, 2026, with some shares disposed of to cover taxes.
- Director shares were granted in 2024 as part of the BOK Financial Directors Stock Compensation Plan.
Outbound Investments
- BOK Financial plans to launch a new mortgage finance and warehouse lending division in late 2025, with a focus on engaging over 500 independent mortgage originators.
- The company continues to strategically invest in high-growth markets like Texas, where it achieved 9.8% Commercial & Industrial (C&I) loan growth year-over-year in 2024.
- BOK Financial was named the official bank partner of Colorado Athletics on June 25, 2025.
Capital Expenditures
- BOK Financial aims to maintain its competitive edge through strategic investments, disciplined risk management, and a focus on customer service, including investment in technology.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Is BOK Financial Stock Built to Withstand a Pullback? | 10/17/2025 | |
| Why BOK Financial Stock Moved: BOKF Stock Has Gained 42% Since 2023 Fiscal End, Primarily Due To Favorable Change In Price To Sales Multiple (P/S) | 08/08/2025 | |
| BOK Financial (BOKF) Valuation Ratios Comparison | 08/08/2025 | |
| BOKF Dip Buy Analysis | 07/10/2025 | |
| Time To Buy BOK Financial Stock? | 02/28/2025 | |
| BOK Financial (BOKF) Operating Cash Flow Comparison | 02/17/2025 | |
| BOK Financial (BOKF) Net Income Comparison | 02/15/2025 | |
| Fundamental Metrics: ... | 06/19/2024 | |
| ARTICLES | ||
| Small Cap Stocks Trading At 52-Week High | 12/24/2025 |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 29.91 |
| Mkt Cap | 7.7 |
| Rev LTM | 2,144 |
| Op Inc LTM | - |
| FCF LTM | 471 |
| FCF 3Y Avg | 17 |
| CFO LTM | 471 |
| CFO 3Y Avg | 19 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 13.9% |
| Rev Chg 3Y Avg | 5.4% |
| Rev Chg Q | 17.8% |
| QoQ Delta Rev Chg LTM | 4.1% |
| Op Inc Chg LTM | - |
| Op Inc Chg 3Y Avg | - |
| Op Mgn LTM | - |
| Op Mgn 3Y Avg | - |
| QoQ Delta Op Mgn LTM | - |
| CFO/Rev LTM | 22.0% |
| CFO/Rev 3Y Avg | 22.3% |
| FCF/Rev LTM | 15.2% |
| FCF/Rev 3Y Avg | 19.6% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 7.7 |
| P/S | 3.8 |
| P/Op Inc | - |
| P/EBIT | - |
| P/E | 12.6 |
| P/CFO | 16.4 |
| Total Yield | 9.9% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 3.3% |
| D/E | 0.5 |
| Net D/E | -0.5 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -2.2% |
| 3M Rtn | 11.6% |
| 6M Rtn | 16.9% |
| 12M Rtn | 36.5% |
| 3Y Rtn | 56.9% |
| 1M Excs Rtn | -3.0% |
| 3M Excs Rtn | 2.6% |
| 6M Excs Rtn | 8.3% |
| 12M Excs Rtn | 15.8% |
| 3Y Excs Rtn | -5.6% |
Price Behavior
Price Behavior
| Market Price | $128.94 | |
| Market Cap ($ Bil) | 7.7 | |
| First Trading Date | 09/05/1991 | |
| Distance from 52W High | -6.2% | |
| 50 Days | 200 Days | |
| DMA Price | $130.71 | $120.48 |
| DMA Trend | up | up |
| Distance from DMA | -1.4% | 7.0% |
| 3M | 1YR | |
| Volatility | 18.3% | 23.4% |
| Downside Capture | 64.88 | 75.45 |
| Upside Capture | 55.59 | 92.66 |
| Correlation (SPY) | 42.1% | 47.3% |
BOKF Betas & Captures as of 5/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.86 | 0.98 | 0.63 | 0.62 | 0.96 | 0.92 |
| Up Beta | 1.82 | 1.02 | 0.84 | 1.00 | 1.24 | 0.77 |
| Down Beta | 0.19 | 0.08 | 0.15 | 0.23 | 0.92 | 0.98 |
| Up Capture | 8% | 51% | 54% | 65% | 91% | 92% |
| Bmk +ve Days | 13 | 28 | 36 | 67 | 141 | 432 |
| Stock +ve Days | 7 | 21 | 32 | 64 | 127 | 380 |
| Down Capture | 162% | 213% | 79% | 54% | 85% | 100% |
| Bmk -ve Days | 7 | 13 | 27 | 57 | 109 | 318 |
| Stock -ve Days | 13 | 20 | 31 | 60 | 120 | 368 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BOKF | |
|---|---|---|---|---|
| BOKF | 40.8% | 23.5% | 1.39 | - |
| Sector ETF (XLF) | 4.2% | 14.6% | 0.07 | 62.4% |
| Equity (SPY) | 26.2% | 12.1% | 1.63 | 47.1% |
| Gold (GLD) | 28.6% | 26.9% | 0.91 | 9.5% |
| Commodities (DBC) | 37.4% | 19.0% | 1.54 | -9.2% |
| Real Estate (VNQ) | 11.0% | 13.4% | 0.53 | 43.0% |
| Bitcoin (BTCUSD) | -40.1% | 42.4% | -1.09 | 25.4% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BOKF | |
|---|---|---|---|---|
| BOKF | 9.4% | 28.1% | 0.33 | - |
| Sector ETF (XLF) | 8.2% | 18.6% | 0.32 | 69.0% |
| Equity (SPY) | 13.5% | 17.1% | 0.62 | 52.9% |
| Gold (GLD) | 17.4% | 18.1% | 0.78 | 0.0% |
| Commodities (DBC) | 9.3% | 19.4% | 0.37 | 10.6% |
| Real Estate (VNQ) | 2.6% | 18.8% | 0.04 | 48.5% |
| Bitcoin (BTCUSD) | 10.7% | 54.6% | 0.39 | 18.0% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BOKF | |
|---|---|---|---|---|
| BOKF | 9.9% | 33.5% | 0.37 | - |
| Sector ETF (XLF) | 12.5% | 22.2% | 0.52 | 78.1% |
| Equity (SPY) | 15.3% | 17.9% | 0.73 | 59.9% |
| Gold (GLD) | 13.1% | 16.0% | 0.68 | -5.4% |
| Commodities (DBC) | 7.1% | 18.0% | 0.32 | 24.2% |
| Real Estate (VNQ) | 5.4% | 20.7% | 0.23 | 52.2% |
| Bitcoin (BTCUSD) | 62.6% | 66.9% | 1.02 | 13.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 6/3/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 4/20/2026 | -2.2% | -2.9% | -6.9% |
| 1/16/2026 | 1.2% | 1.8% | 4.1% |
| 10/20/2025 | -3.1% | -1.9% | -4.0% |
| 7/21/2025 | -0.9% | -1.8% | -0.9% |
| 4/21/2025 | -1.7% | 3.7% | 8.7% |
| 1/17/2025 | 1.1% | -2.0% | -1.4% |
| 10/21/2024 | -2.0% | -1.7% | 5.1% |
| 7/22/2024 | -0.7% | -2.4% | -6.3% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 10 | 10 | 16 |
| # Negative | 14 | 14 | 8 |
| Median Positive | 2.1% | 3.1% | 3.9% |
| Median Negative | -1.0% | -1.9% | -5.2% |
| Max Positive | 5.0% | 7.4% | 23.3% |
| Max Negative | -10.6% | -11.9% | -10.5% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/06/2026 | 10-Q |
| 12/31/2025 | 02/18/2026 | 10-K |
| 09/30/2025 | 10/29/2025 | 10-Q |
| 06/30/2025 | 07/30/2025 | 10-Q |
| 03/31/2025 | 04/30/2025 | 10-Q |
| 12/31/2024 | 02/19/2025 | 10-K |
| 09/30/2024 | 10/30/2024 | 10-Q |
| 06/30/2024 | 07/31/2024 | 10-Q |
| 03/31/2024 | 05/01/2024 | 10-Q |
| 12/31/2023 | 02/21/2024 | 10-K |
| 09/30/2023 | 11/01/2023 | 10-Q |
| 06/30/2023 | 08/02/2023 | 10-Q |
| 03/31/2023 | 05/03/2023 | 10-Q |
| 12/31/2022 | 03/01/2023 | 10-K |
| 09/30/2022 | 11/02/2022 | 10-Q |
| 06/30/2022 | 08/03/2022 | 10-Q |
Insider Activity
Updated 5/11/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Wade, Mark B | EVP - Texas Market Executive | Direct | Sell | 5112026 | 132.62 | 1,700 | 225,454 | 2,700,276 | Form |
| 2 | Bangert, Steven | Direct | Sell | 5082026 | 134.78 | 2,100 | 283,038 | 4,422,940 | Form | |
| 3 | Bangert, Steven | Bangert Family Investments, LLLP | Sell | 5082026 | 134.91 | 500 | 67,454 | 1,407,903 | Form | |
| 4 | Reid, Jeffrey A | EVP, Chief HR Officer | Direct | Sell | 4242026 | 135.52 | 1,200 | 162,627 | 1,099,934 | Form |
| 5 | Bangert, Steven | Direct | Sell | 1262026 | 137.71 | 2,500 | 344,275 | 4,808,282 | Form |
Industry Resources
| Financials Resources |
| Federal Reserve Economic Data |
| Federal Reserve |
| FDIC Data |
| American Banker |
| The Banker |
| Banking Technology |
| Regional Banks Resources |
| Bank Director |
| Independent Banker |
| S&P Global Market Intelligence |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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Core Cache Last Updated: 6/8/2026