BOK Financial Corporation (NASDAQ:BOKF) reported its Q4 results, with EPS of $2.5 coming in better than the Street estimate of $2.26. Fundamental results were positive, with strong loan growth and margin expansion helping drive better spread revenues.

Expense growth remains primarily driven by strong revenue trends. The 2023 outlook is also favorable and suggests positive revenue growth and a relatively stable efficiency ratio.

Analysts at RBC Capital raised their price target on the company’s shares to $117 from $112 while maintaining their Sector Perform rating. Overall, the analysts continue to appreciate the company’s diversified model and believe they are well positioned in the current environment to drive balanced revenue growth.