NASDAQ$BOKF

BOK Financial Corp · Q3 2023 earnings

Q3 2023 earnings · · Investor relations

Briefing

Reported quarterly earnings driven by diverse business model.

BOK Financial Corporation reported a solid quarter with net income of $134.5 million, or $2.04 per diluted share. The results were driven by a diverse business model that balances interest and non-interest revenues.

  • Net income was $134.5 million or $2.04 per diluted share for the third quarter of 2023, compared to $151.3 million or $2.27 per diluted share for the second quarter of 2023.
  • Period-end loans grew by $486 million to $23.7 billion at September 30, 2023, mostly driven by growth in commercial loans and commercial real estate loans secured by multifamily properties.
  • Period-end deposits increased $358 million to $33.7 billion while average deposits increased $918 million to $33.3 billion.
  • The company repurchased 700,500 shares of common stock at an average price paid of $84.17 a share in the third quarter of 2023.

Headline financials

Total Revenue

$499M

Previous: $506M-1.4%
EPS (adj)

$2.04

Previous: $2.32-12.1%
Tangible Common Equity

7.7%

Previous: 8.0%-2.8%
Net Interest Margin

2.7%

Previous: 3.2%-17.0%
Free Cash Flow

$134M

Previous: $157M-14.1%
Net Income

$134M

Previous: $157M-14.1%
Operating Income

$71.7M

Previous: $346M-79.3%
Gross Profit

$492M

Previous: $491M+0.2%
Cash & Equivalents

$1.37B

Previous: $1.61B-14.5%
Total Assets

$48.9B

Previous: $43.6B+12.1%
Stock-Based Comp

$3.16M

Previous: $3.81M-17.0%

Revenue & EPS history

BOK Financial · Revenue · Quarterly

$499M

Q3 2023-1.4%vs Q3 2022
Beat estimate in 8 of 14 quarters(57%)
ActualEstimate

Revenue by segment

BOK Financial · $616M total across 3 segments · Q3 2023

  • Commercial Banking
    $312M+17.8%
  • Wealth Management
    $160M+9.1%
  • Consumer Banking
    $143M+93.2%

Forward guidance

The company did not provide specific forward guidance in this report.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q3 2023

Historical avgQ3 2023

-0.0%

Avg return

Earnings day

+0.4%

Avg return

5 days after

+1.6%

Avg return

30 days after

43%

30 / 69 earnings

Positive

+6.9%

Q3 2020

Best reaction

-12.0%

Q4 2021

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-2.2%-3.3%-5.4%
Q4 2025+1.3%+5.7%+4.7%
Q3 2025-3.1%-3.3%-3.7%
Q2 2025-1.7%-0.4%+4.6%
Q1 2025-1.7%+2.6%+4.2%
Q4 2024-0.2%-2.7%-3.2%
Q3 2024-2.1%-4.1%+5.0%
Q2 2024-1.5%-1.0%-5.2%
Q1 2024-1.3%-1.3%+1.0%
Q4 2023+2.9%+4.2%+0.0%
Q3 2023-9.6%-7.6%-0.2%
Q2 2023-2.4%-1.8%-11.0%
Q1 2023+5.2%+4.3%+4.8%
Q4 2022-0.1%-0.8%+4.4%
Q3 2022+3.7%+9.1%+3.1%
Q2 2022+5.7%+9.3%+12.8%
Q1 2022-0.5%-1.0%+0.1%
Q4 2021-12.0%-11.5%-12.0%
Q3 2021+5.4%+8.5%+11.7%
Q2 2021-0.3%+1.5%+6.9%
Q1 2021-2.6%-0.2%+3.5%
Q4 2020-2.7%-2.2%+5.5%
Q3 2020+6.9%+6.2%+21.7%
Q2 2020+3.9%+0.3%-0.6%
Q1 2020+5.8%+13.2%+10.4%
Q4 2019-3.7%-6.2%-5.5%
Q3 2019-1.5%-0.5%+4.9%
Q2 2019+5.0%+6.1%-2.8%
Q1 2019-1.8%+0.8%-9.9%
Q4 2018+0.0%+2.0%+9.3%
Q3 2018-2.1%-0.4%-3.3%
Q2 2018+0.5%+0.1%+3.2%
Q1 2018-0.8%-2.7%-1.1%
Q4 2017+0.0%+1.1%-1.2%
Q3 2017-3.6%-4.7%-6.5%
Q2 2017-2.6%-3.2%-7.4%
Q1 2017+5.9%+5.0%+2.7%
Q4 2016+1.6%-1.8%-0.5%
Q3 2016+1.1%+0.2%+15.0%
Q2 2016-0.8%-4.1%+2.9%
Q1 2016-3.3%
Q4 2015+5.2%
Q3 2015+6.9%
Q2 2015+2.7%
Q1 2015+2.1%
Q4 2014-2.9%
Q3 2014+0.4%
Q2 2014+1.7%
Q1 2014-1.6%
Q4 2013-0.9%
Q3 2013-4.9%
Q2 2013-0.2%
Q1 2013-0.5%
Q4 2012-0.7%
Q3 2012+2.4%
Q2 2012+0.0%
Q1 2012+4.9%
Q4 2011-0.8%
Q4 2008-0.8%
Q4 2009-0.8%
Q3 2011-3.5%
Q2 2011+2.5%
Q1 2010+0.2%
Q1 2011+0.2%
Q4 2010-1.4%
Q3 2009+1.3%
Q3 2010+1.3%
Q2 2010-2.3%
Q2 2009-2.3%

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