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BOK Financial (BOKF) Up 3.6% Since Last Earnings Report: Can It Continue?
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A month has gone by since the last earnings report for BOK Financial (BOKF - Free Report) . Shares have added about 3.6% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is BOK Financial due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.
BOK Financial Q2 Earnings Beat Estimates as NII & Fee Income Rise Y/Y
BOK Financial’s second-quarter 2026 adjusted earnings of $2.59 per share surpassed the Zacks Consensus Estimate of $2.56. The bottom line jumped 18.3% from the prior-year quarter.
Results benefited from higher net interest income and total fees and commissions. An increase in loans was another positive. However, the rise in operating expenses was a major undermining factor.
Excluding the net gain related to the exchange of Visa B shares and the loss from repositioning the available-for-sale securities portfolio, net income attributable to shareholders (GAAP basis) was $176.5 million compared with $140 million in the prior-year quarter.
Revenues & Expenses Rise
Quarterly net revenues of $589.4 million (net interest income and total other operating revenues) rose 10.1% year over year. The top line surpassed the Zacks Consensus Estimate of $559 million.
Net interest income was $351.8 million, up 7.2% year over year. The net interest margin expanded 11 basis points to 2.91%..
Total fees and commissions were $202 million, up 2.4% year over year. The rise was driven by higher transaction card revenues, fiduciary and asset management revenues, and deposit service charges and fees, partially offset by lower brokerage and trading revenues, mortgage banking revenues, and other revenues.
Total other operating expenses were $361.7 million, up 2% year over year. This rise was mainly driven by personnel, business promotion, net occupancy and equipment, FDIC and other insurance, data processing and communications, printing, postage and supplies, mortgage banking costs, and other expenses.
The efficiency ratio was 60.21% compared with the prior-year quarter’s 65.42%. A fall in the efficiency ratio indicates a rise in profitability.
Loans & Deposits Rise Sequentially
As of June 30, 2026, total loans were $27.1 billion, up 3.4% from the prior quarter. The increase was driven by growth in commercial loans and loans to individuals, while commercial real estate loans remained relatively stable.
Total deposits were $39.9 billion, up 3% sequentially. The rise was due to higher demand, interest-bearing transaction and time deposits, partially offset by a decline in savings deposits.
Credit Quality Improves
As of June 30, 2026, non-performing assets were $62.7 million or 0.23% of outstanding loans and repossessed assets compared with $81.1 million or 0.33% in the prior-year quarter.
The company recorded nil provisions for credit losses, unchanged from the prior-year quarter.
The company recorded net charge-offs of $500,000 compared with $561,000 in the year-ago quarter.
The allowance for loan losses was 1.02% of outstanding loans as of June 30, 2026, which declined 12 bps from the year-ago quarter.
Capital Ratios Decline & Profitability Ratios Improve
As of June 30, 2026, the common equity Tier 1 capital ratio was 12.89% compared with 13.59% a year earlier. The Tier 1 capital ratio and total capital ratio were 12.90% and 14.67%, respectively, compared with 13.60% and 14.48% as of June 30, 2025.
At the end of the second quarter, return on average equity was 11.73%, up from the year-earlier quarter’s 9.70%. Return on average assets was 1.30%, up from 1.07% a year ago.
Share Repurchase Update
The company repurchased 2,519 shares for $327,000 during the second quarter of 2026 at an average price of $129.89 per share.
2026 Outlook
The company expects end-of-period loan growth of more than 10% from the 2025 reported level, compared with the prior outlook of 10%.
Management now expects NII to be in the upper half of the previously guided range of $1.42-$1.45 billion for 2026, indicating a rise from the $1.3 billion recorded in 2025.
Total fees and commission revenues are anticipated to be in the lower half of the previously guided range of $820-$845 million, primarily due to a mix shift from trading fees to net interest income.
Non-interest expenses (excluding the FDIC special assessment) are expected to grow at the lower end of the low-single-digit guidance from the $1.43 billion reported in 2025.
Total revenues are expected to grow at the upper end of the mid-single-digit guidance from the $2.2 billion reported in 2025.
Management now expects the efficiency ratio to be approximately 62%, compared with the previous outlook of 63%. Excluding the Visa Class B gain, the efficiency ratio is expected to be around 63%.
The company now expects provision expenses to be below $20 million, compared with the previous outlook of $15-$35 million.
How Have Estimates Been Moving Since Then?
It turns out, estimates revision have trended upward during the past month.
VGM Scores
At this time, BOK Financial has a average Growth Score of C, though it is lagging a bit on the Momentum Score front with a D. However, the stock has a score of B on the value side, putting it in the second quintile for value investors.
Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been trending upward for the stock, and the magnitude of this revision looks promising. Interestingly, BOK Financial has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry Player
BOK Financial belongs to the Zacks Banks - Southwest industry. Another stock from the same industry, First Horizon National (FHN - Free Report) , has gained 1.2% over the past month. More than a month has passed since the company reported results for the quarter ended June 2026.
First Horizon reported revenues of $887 million in the last reported quarter, representing a year-over-year change of +6.9%. EPS of $0.54 for the same period compares with $0.45 a year ago.
First Horizon is expected to post earnings of $0.53 per share for the current quarter, representing a year-over-year change of +3.9%. Over the last 30 days, the Zacks Consensus Estimate remained unchanged.
First Horizon has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of D.
View the Zacks #1 Rank List
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BOK Financial (BOKF) Up 3.6% Since Last Earnings Report: Can It Continue?
A month has gone by since the last earnings report for BOK Financial (BOKF - Free Report) . Shares have added about 3.6% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is BOK Financial due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.
BOK Financial Q2 Earnings Beat Estimates as NII & Fee Income Rise Y/Y
BOK Financial’s second-quarter 2026 adjusted earnings of $2.59 per share surpassed the Zacks Consensus Estimate of $2.56. The bottom line jumped 18.3% from the prior-year quarter.
Results benefited from higher net interest income and total fees and commissions. An increase in loans was another positive. However, the rise in operating expenses was a major undermining factor.
Excluding the net gain related to the exchange of Visa B shares and the loss from repositioning the available-for-sale securities portfolio, net income attributable to shareholders (GAAP basis) was $176.5 million compared with $140 million in the prior-year quarter.
Revenues & Expenses Rise
Quarterly net revenues of $589.4 million (net interest income and total other operating revenues) rose 10.1% year over year. The top line surpassed the Zacks Consensus Estimate of $559 million.
Net interest income was $351.8 million, up 7.2% year over year. The net interest margin expanded 11 basis points to 2.91%..
Total fees and commissions were $202 million, up 2.4% year over year. The rise was driven by higher transaction card revenues, fiduciary and asset management revenues, and deposit service charges and fees, partially offset by lower brokerage and trading revenues, mortgage banking revenues, and other revenues.
Total other operating expenses were $361.7 million, up 2% year over year. This rise was mainly driven by personnel, business promotion, net occupancy and equipment, FDIC and other insurance, data processing and communications, printing, postage and supplies, mortgage banking costs, and other expenses.
The efficiency ratio was 60.21% compared with the prior-year quarter’s 65.42%. A fall in the efficiency ratio indicates a rise in profitability.
Loans & Deposits Rise Sequentially
As of June 30, 2026, total loans were $27.1 billion, up 3.4% from the prior quarter. The increase was driven by growth in commercial loans and loans to individuals, while commercial real estate loans remained relatively stable.
Total deposits were $39.9 billion, up 3% sequentially. The rise was due to higher demand, interest-bearing transaction and time deposits, partially offset by a decline in savings deposits.
Credit Quality Improves
As of June 30, 2026, non-performing assets were $62.7 million or 0.23% of outstanding loans and repossessed assets compared with $81.1 million or 0.33% in the prior-year quarter.
The company recorded nil provisions for credit losses, unchanged from the prior-year quarter.
The company recorded net charge-offs of $500,000 compared with $561,000 in the year-ago quarter.
The allowance for loan losses was 1.02% of outstanding loans as of June 30, 2026, which declined 12 bps from the year-ago quarter.
Capital Ratios Decline & Profitability Ratios Improve
As of June 30, 2026, the common equity Tier 1 capital ratio was 12.89% compared with 13.59% a year earlier. The Tier 1 capital ratio and total capital ratio were 12.90% and 14.67%, respectively, compared with 13.60% and 14.48% as of June 30, 2025.
At the end of the second quarter, return on average equity was 11.73%, up from the year-earlier quarter’s 9.70%. Return on average assets was 1.30%, up from 1.07% a year ago.
Share Repurchase Update
The company repurchased 2,519 shares for $327,000 during the second quarter of 2026 at an average price of $129.89 per share.
2026 Outlook
The company expects end-of-period loan growth of more than 10% from the 2025 reported level, compared with the prior outlook of 10%.
Management now expects NII to be in the upper half of the previously guided range of $1.42-$1.45 billion for 2026, indicating a rise from the $1.3 billion recorded in 2025.
Total fees and commission revenues are anticipated to be in the lower half of the previously guided range of $820-$845 million, primarily due to a mix shift from trading fees to net interest income.
Non-interest expenses (excluding the FDIC special assessment) are expected to grow at the lower end of the low-single-digit guidance from the $1.43 billion reported in 2025.
Total revenues are expected to grow at the upper end of the mid-single-digit guidance from the $2.2 billion reported in 2025.
Management now expects the efficiency ratio to be approximately 62%, compared with the previous outlook of 63%. Excluding the Visa Class B gain, the efficiency ratio is expected to be around 63%.
The company now expects provision expenses to be below $20 million, compared with the previous outlook of $15-$35 million.
How Have Estimates Been Moving Since Then?
It turns out, estimates revision have trended upward during the past month.
VGM Scores
At this time, BOK Financial has a average Growth Score of C, though it is lagging a bit on the Momentum Score front with a D. However, the stock has a score of B on the value side, putting it in the second quintile for value investors.
Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been trending upward for the stock, and the magnitude of this revision looks promising. Interestingly, BOK Financial has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry Player
BOK Financial belongs to the Zacks Banks - Southwest industry. Another stock from the same industry, First Horizon National (FHN - Free Report) , has gained 1.2% over the past month. More than a month has passed since the company reported results for the quarter ended June 2026.
First Horizon reported revenues of $887 million in the last reported quarter, representing a year-over-year change of +6.9%. EPS of $0.54 for the same period compares with $0.45 a year ago.
First Horizon is expected to post earnings of $0.53 per share for the current quarter, representing a year-over-year change of +3.9%. Over the last 30 days, the Zacks Consensus Estimate remained unchanged.
First Horizon has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of D.