The growth curve of stock price for BOKF seems to show the best improvement during times of strong financials for oil and gas production companies.
Can anyone lend a general opinion on the observation? Is there a rule of thumb correlation for BOKF with oil and gas prices nationwide? Is there a correlation to more of a regional picture (Anadarko Basn area?, TX, OK oilfield areas)?
Given the strength in oil and gas prices that we are seeing now....and for the forseeable future, do the future look bright for BOKF from this effect?
Is BOKF strengthening its ties to the oil and gas industry, or in a diversifying mode away from that concentration?
If you read the reg filings you will find that less than 20% of the BOKF's loan base is energy related. The stock price flows with the general interest in regional banks. Unfortunately, this stock is probably capped to some extent, relative to peer group, given the extremely small float as % of ownership. Good news is that it well run bank. Bad news is that it cannot be a takeover target unless George Kaiser wants to sell it. Given his strong belief in local ownership and control, a larger bank take-over seems remote. Continued growth through targeted acquisitions in surrounding states will probably be the continued plan
Sir, nice to see your post. You probably already know (but since I am new to this board, I am not entirely sure you know!) that the chairman of BOKF, Mr. Kaiser, is an extremely successful investor in the oil and gas sector, mainly gas as I understand it. It has been my impression that he seems to have BOKF lend into the market with which he is fully familiar. BOKF is really an extra little thing for Mr. Kaiser to dabble in. Maybe I am wrong, but the lending orientation which I describe is my impression about BOKF.
As for Mr Kaiser dabbling......I have also wondered if one possibility for BOKF might not include an eventual sale at a nice premium to one of the major banks.....or if philosophically Mr Kaiser was determined to forever leave BOKF under the control and in the hands of the (primarily) Oklahoma staff who built the company up.
One thing that always scared me a bit is the relatively small equity interest that many of the executives in the bank hold. It seems like 3000 to 5000 shares is a position that is on the high side for directors and officers, while Mr. Kaiser holds the majority.
Do you have any more info on Mr. Kaiser, what he is about, and his potential plans for BOKF?