BOK Financial

BOKF · NASDAQ

$126.46+$3.60 (+2.93%)TodayMarket closed · Oct 20, 7:31 PM ET

Prev close $122.86

BOKF analyst rating

HoldConsensus of 10 analysts over the last 12 months. 0% rate it a buy.

Strong buy0
Buy0
Hold9
Underperform1
Sell0

12-month price target · 10 analysts

Average $151.60 (+19.9% upside)

Low: $136.35
Now: $126.46
High: $168.00

Upgrades and downgrades

The latest rating actions, newest first

BOKF analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
RBC Capital	Oct 9, 2026	Maintains	Sector Perform	$149.00 → $146.00	30%
Wells Fargo	Sep 30, 2026	Downgrade	Equal-Weight → Underweight	$148.00 → $135.00	62%
Hovde Group	Sep 11, 2026	Initiates	Market Perform	$143.00	0%
DA Davidson	Sep 3, 2026	Maintains	Neutral	$150.00	61%
Wells Fargo	Aug 10, 2026	Maintains	Equal-Weight	$138.00 → $148.00	62%
Barclays	Aug 3, 2026	Maintains	Equal-Weight	$150.00 → $155.00	54%
Keefe, Bruyette & Woods	Jul 24, 2026	Maintains	Market Perform	$143.00 → $146.00	79%
DA Davidson	Jul 22, 2026	Maintains	Neutral	$150.00	61%
RBC Capital	Jul 22, 2026	Maintains	Sector Perform	$147.00 → $149.00	30%
Barclays	Jul 22, 2026	Maintains	Equal-Weight	$145.00 → $150.00	54%

The case for and against

Updated Oct 21, 2026

Bull case

BOK Financial is compelling because it is producing broad-based loan growth, with period-end loans up 3.4% in 2Q26 and management lifting full-year loan guidance to over 10%, while mortgage finance has already reached $870M in commitments and turned profitable in June. Its fundamentals are reinforced by exceptional credit quality, including only 1bp net charge-offs in 2Q26, a zero provision 6 out of 7 quarters, and no emerging credit risks, alongside strong capital with a 12.89% CET1 ratio and 9.61% TCE ratio. The bank also benefits from a diversified fee-rich franchise, strong liquidity with a 68% loan-to-deposit ratio, and disciplined management that is adding revenue-producing bankers and expanding into new markets to support long-term growth.

Bear case

BOK Financial is viewed negatively because its earnings mix is increasingly pressured by volatile and weakening brokerage and trading revenue, with 2Q trading revenues down $9.7M sequentially to $25.0M and customer-related fees falling $7.8M to $202M, while lower mortgage origination activity and rate uncertainty weigh on the business. Although core NIM held at 2.92% and management expects some 2H26 improvement from repricing and seasonal deposit growth, competition on loan and deposit pricing, plus a 3 bp headwind from energy-hedging cash margin in 2Q26, limits confidence in sustained margin expansion. Credit quality remains clean with NPAs at 0.23% and zero provisions, but the outlook is constrained by exposure to Texas and Oklahoma, oil and gas volatility, healthcare-related loan risk, and the large concentration in shared national credits.

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