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BOKF - BOK Financial: Earnings Outlook Seems Negative
BOK Financial Corporation
2024-01-28 20:52:09 ET
Summary
The net interest margin will likely decline even though the deposit mix will most probably stop deteriorating this year. Interest rate cuts will likely pressurize the margin.
Loan growth will likely continue at a reasonable rate thanks to satisfactory labor markets and robust pipelines.
The margin and non-interest expense outlooks make the overall earnings outlook murky.
The December 2024 target price suggests a small upside from the current market price. Further, BOKF is offering a modest dividend yield.