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.
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BOK Financial: Earnings Outlook Seems Negative