BOK Financial Positioned For Growth With Strong Fee Income And Lower Rates, Analyst Upgrades Stock
BOK Financial Positioned For Growth With Strong Fee Income And Lower Rates, Analyst Upgrades Stock
Winter says that BOKF's deposit composition resulted in a high interest-bearing deposit beta, reaching approximately 69% in the second quarter, placing it at the top end among peers.D A Davidson analyst Peter J. Winter upgraded BOK Financial Corporation (NASDAQ:BOKF) to Buy from Neutral and raised the price target to $124 (from $113).
D A Davidson 分析師彼得·J·溫特將紅肥金融公司（納斯達克：BOKF）的評級從中立調升至買入，並將價格目標從113美元升至124美元。
The analyst writes that BOKF is well-positioned for lower rates, leading them to upgrade the EPS estimates for the second half of 2024 and 2025 to the top end of consensus.
分析師表示，紅肥金融公司已經做好迎接減息的準備，從而將2024年下半年和2025年的每股收益預期調升至共識最高水平。
Although BOKF lowered its revenue outlook in July, expecting only one rate cut in the second half of 2024 instead of two, the recent 50 basis point cut in September and signs of further rate cuts suggest a more positive revenue outlook ahead, adds the analyst.
儘管紅肥金融公司在7月份下調了其營業收入展望，預計2024年下半年只會有一次減息，而不是兩次，但近期9月份的50個點子減息以及進一步減息的跡象表明，前景更加積極，分析師補充道。
Winter says that BOKF's deposit composition resulted in a high interest-bearing deposit beta, reaching approximately 69% in the second quarter, placing it at the top end among peers.
溫特表示，紅肥金融公司的存款結構導致了高利率型存款比率，達到了大約69%，使其在同行業中處於較高水平。
The down rate beta is also expected to be high, around the mid-50s, adds the analyst.
分析師還預計，下行利率比率也將較高，約在中50%左右。
The analyst writes that its loan-to-deposit ratio is 68%, below peers, and management is comfortable allowing it to rise slightly to facilitate more aggressive deposit cost reductions.
分析師寫道，其貸款存款比率爲68%，低於同行，管理層願意略微增加以促進更大幅度的存款成本降低。
BOKF's diverse fee income sources, comprising about 40% of revenues—compared to low 20s for small-bank peers—are key to its growth.
紅肥金融公司多樣化的費用收入來源約佔營收的40%，而小銀行同行的比例只有20%左右，這對其增長至關重要。
With only $16 million in provision expense for 1H24 and a positive credit outlook, the analyst expects the final provision to be below guidance.
在2024年上半年才1600萬美元的準備費用和積極的信用前景下，分析師預計最終準備金將低於指導值。
The analyst expects EPS of $8.00 (vs. consensus of $7.82) in 2024 and $8.71 (vs. estimates of $8.47) in 2025.
分析師預計2024年EPS爲$8.00（與市場預期$7.82相比），2025年爲$8.71（與市場預期$8.47相比）。
Investors can gain exposure to the stock via Invesco KBW Regional Banking ETF (NASDAQ:KBWR).
投資者可以通過invesco kbw regional banking etf（納斯達克:KBWR）獲得該股票的暴露。
Price Action: BOKF shares are up 2.84% at $112.43 at the last check Tuesday.
價格走勢：在上週二最後檢查時，BOKF股價上漲2.84%，報$112.43。
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譯文內容由第三人軟體翻譯。
