BOK Financial Co. Plans Quarterly Dividend of $0.57 (NASDAQ:BOKF)

BOK Financial Co. (NASDAQ:BOKF) announced a quarterly dividend on Friday, January 31st,Wall Street Journal reports. Shareholders of record on Wednesday, February 12th will be paid a dividend of 0.57 per share by the bank on Wednesday, February 26th. This represents a $2.28 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend is Wednesday, February 12th.

BOK Financial has increased its dividend by an average of 2.0% annually over the last three years and has increased its dividend every year for the last 19 years. BOK Financial has a payout ratio of 24.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect BOK Financial to earn $9.07 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 25.1%.

BOK Financial Stock Performance

Shares of NASDAQ:BOKF opened at $110.42 on Friday. BOK Financial has a 12-month low of $78.99 and a 12-month high of $121.58. The company’s 50 day moving average price is $112.33 and its two-hundred day moving average price is $107.83. The firm has a market cap of $7.08 billion, a PE ratio of 13.58 and a beta of 1.20. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.87.

BOK Financial (NASDAQ:BOKF) last posted its quarterly earnings data on Friday, January 17th. The bank reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.97 by $0.15. BOK Financial had a return on equity of 9.96% and a net margin of 15.32%. Equities research analysts predict that BOK Financial will post 8.71 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. StockNews.com raised shares of BOK Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, January 22nd. Wells Fargo & Company increased their price target on shares of BOK Financial from $105.00 to $112.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 3rd. Wedbush restated a “neutral” rating and set a $115.00 price objective on shares of BOK Financial in a research report on Tuesday, October 22nd. Keefe, Bruyette & Woods raised their target price on BOK Financial from $112.00 to $125.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Finally, Royal Bank of Canada boosted their price target on BOK Financial from $115.00 to $120.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 22nd. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, BOK Financial presently has a consensus rating of “Hold” and an average target price of $116.40.

Insider Buying and Selling at BOK Financial

In related news, Director Steven Bangert sold 2,000 shares of BOK Financial stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $117.83, for a total value of $235,660.00. Following the transaction, the director now directly owns 44,709 shares of the company’s stock, valued at $5,268,061.47. The trade was a 4.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 56.94% of the company’s stock.

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.