Categories AlphaGraphs, Earnings, Finance
Highlights of BOK Financial Corporation’s Q4 2022 earnings
Financial services company BOK Financial Corporation (NASDAQ: BOKF) announced results for the fourth quarter of 2022, reporting higher net profit and net interest revenue.
At $352.6 million, net interest revenue was up 27% year-over-year. Net interest margin moved up to 3.54% from 2.52%, mainly reflecting the recent increase in interest rates. At the end of the quarter, the company had total loans of $22.6 billion, up from $20.2 billion recorded a year earlier.
Net income increased sharply to $168.4 million or $2.51 per share in the fourth quarter from $117.2 million or $1.71 per share in the same period of 2021. During the quarter, BOK Financial repurchased 314,406 shares at an average price of $103.14 per share.
Commenting on the results, the company’s CEO Stacy Kymes said, “This quarter was the highest pre-provision net revenue in our history. We enjoyed loan growth, net interest margin expansion, strong capital levels, and balance sheet liquidity while asset quality remains very strong. We also took actions in the fourth quarter to move toward a more neutral interest rate position.”
_________________________________________________________________________________________________________________
Stocks you may like:
_________________________________________________________________________________________________________________
Most Popular
What to look for when CVS Health (CVS) reports Q3 earnings
Healthcare company CVS Health Corporation (NYSE: CVS) is all set to report earnings next week, with Wall Street expecting a mixed outcome. The company has been facing challenges in certain
eBay (EBAY): A few factors that helped drive growth in Q3 2024
Shares of eBay Inc. (NASDAQ: EBAY) stayed green on Friday. The stock has gained 32% year-to-date. The ecommerce leader delivered revenue and earnings growth for the third quarter of 2024,
CVX Earnings: Chevron reports lower revenue and profit for Q3 2024
Energy exploration company Chevron Corporation (NYSE: CVX) on Friday announced third-quarter 2024 financial results, reporting a decline in net profit and revenues. Net income attributable to Chevron Corporation dropped to