Regional banking company BOK Financial (NASDAQ: BOKF) will be reporting results this Monday after market close. Here’s what to expect.
BOK Financial beat analysts’ revenue expectations last quarter, reporting revenues of $592.1 million, up 12.7% year on year. It was a very strong quarter for the company, with a solid beat of analysts’ revenue estimates and a beat of analysts’ EPS estimates.
Is BOK Financial a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting BOK Financial’s revenue to grow 9.5% year on year, in line with the 10.4% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. BOK Financial has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at BOK Financial’s peers in the regional banks segment, some have already reported their Q1 results, giving us a hint as to what we can expect. BancFirst delivered year-on-year revenue growth of 7.8%, beating analysts’ expectations by 1%, and KeyCorp reported revenues up 10.2%, topping estimates by 0.7%. BancFirst traded up 3.6% following the results while KeyCorp was also up 1.1%.
Read our full analysis of BancFirst’s results here and KeyCorp’s results here.
There has been positive sentiment among investors in the regional banks segment, with share prices up 12% on average over the last month. BOK Financial is up 10.4% during the same time and is heading into earnings with an average analyst price target of $138 (compared to the current share price of $138.05).
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