BOK Financial Co. (NASDAQ:BOKF) Announces Dividend Increase – $0.57 Per Share

BOK Financial Co. (NASDAQ:BOKF) declared a quarterly dividend on Tuesday, October 29th,Wall Street Journal reports. Investors of record on Friday, November 15th will be given a dividend of 0.57 per share by the bank on Wednesday, November 27th. This represents a $2.28 annualized dividend and a yield of 1.97%. The ex-dividend date is Friday, November 15th. This is an increase from BOK Financial’s previous quarterly dividend of $0.55.

BOK Financial has raised its dividend payment by an average of 1.9% annually over the last three years and has raised its dividend annually for the last 20 consecutive years. BOK Financial has a payout ratio of 26.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect BOK Financial to earn $8.51 per share next year, which means the company should continue to be able to cover its $2.28 annual dividend with an expected future payout ratio of 26.8%.

BOK Financial Stock Performance

BOKF opened at $115.77 on Thursday. The stock has a market capitalization of $7.42 billion, a price-to-earnings ratio of 15.92 and a beta of 1.17. The company has a fifty day moving average of $106.88 and a 200 day moving average of $99.34. BOK Financial has a fifty-two week low of $69.76 and a fifty-two week high of $119.52. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.79 and a current ratio of 0.79.

BOK Financial (NASDAQ:BOKF) last posted its earnings results on Monday, October 21st. The bank reported $2.18 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.20. The company had revenue of $888.50 million during the quarter, compared to analysts’ expectations of $509.43 million. BOK Financial had a net margin of 13.78% and a return on equity of 9.67%. During the same period last year, the company posted $2.04 earnings per share. As a group, sell-side analysts forecast that BOK Financial will post 8.07 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on BOKF shares. DA Davidson cut their target price on shares of BOK Financial from $124.00 to $123.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Wedbush reissued a “neutral” rating and issued a $115.00 price objective on shares of BOK Financial in a research note on Tuesday, October 22nd. Royal Bank of Canada lifted their price objective on shares of BOK Financial from $111.00 to $113.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 23rd. Stephens dropped their price objective on shares of BOK Financial from $116.00 to $114.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 23rd. Finally, StockNews.com raised shares of BOK Financial from a “sell” rating to a “hold” rating in a research note on Friday, July 26th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $112.20.

Insider Buying and Selling

In related news, Director Steven Bangert sold 2,000 shares of BOK Financial stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $117.83, for a total transaction of $235,660.00. Following the completion of the transaction, the director now directly owns 44,709 shares of the company’s stock, valued at approximately $5,268,061.47. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 56.94% of the stock is owned by corporate insiders.

About BOK Financial

BOK Financial Corporation operates as the financial holding company for BOKF, NA that provides various financial products and services in Oklahoma, Texas, New Mexico, Northwest Arkansas, Colorado, Arizona, and Kansas/Missouri. It operates through three segments: Commercial Banking, Consumer Banking, and Wealth Management.