BOK Financial Co. (NASDAQ:BOKF) Raises Dividend to $0.57 Per Share

BOK Financial Co. (NASDAQ:BOKF) declared a quarterly dividend on Tuesday, October 29th,Wall Street Journal reports. Shareholders 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 dividend on an annualized basis and a yield of 1.95%. 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% per year over the last three years and has raised its dividend every year for the last 20 years. BOK Financial has a payout ratio of 26.8% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Down 0.5 %

BOKF opened at $116.80 on Wednesday. The firm has a 50 day simple moving average of $106.63 and a 200 day simple moving average of $99.22. BOK Financial has a fifty-two week low of $68.82 and a fifty-two week high of $119.52. The company has a market cap of $7.49 billion, a price-to-earnings ratio of 16.07 and a beta of 1.17. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.79 and a quick ratio of 0.79.

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

Insider Transactions at BOK Financial

In other BOK Financial news, Director Steven Bangert sold 2,000 shares of the business’s 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 sale, the director now owns 44,709 shares in the company, valued at approximately $5,268,061.47. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 59.72% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on BOKF shares. Royal Bank of Canada boosted their target price on BOK Financial from $111.00 to $113.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 23rd. DA Davidson decreased their price objective on shares of BOK Financial from $124.00 to $123.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Wedbush reissued a “neutral” rating and set a $115.00 price target on shares of BOK Financial in a research report on Tuesday, October 22nd. Keefe, Bruyette & Woods upped their price objective on shares of BOK Financial from $100.00 to $110.00 and gave the company a “market perform” rating in a research report on Thursday, July 25th. Finally, Stephens dropped their price objective on BOK Financial from $116.00 to $114.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 23rd. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $112.20.

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.