BOK Financial Co. (BOKF) to Issue Quarterly Dividend of $0.57 on November 27th

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 paid 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 1.94%. 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 by an average of 1.9% annually over the last three years and has increased 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

Shares of NASDAQ:BOKF traded up $0.66 on Wednesday, hitting $117.46. 6,587 shares of the company were exchanged, compared to its average volume of 151,740. The company’s 50 day moving average price is $106.63 and its two-hundred day moving average price is $99.22. BOK Financial has a one year low of $69.76 and a one year 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. The firm has a market capitalization of $7.53 billion, a price-to-earnings ratio of 16.07 and a beta of 1.17.

BOK Financial (NASDAQ:BOKF) last posted its quarterly earnings data on Monday, October 21st. The bank reported $2.18 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $509.43 million. During the same quarter in the previous year, the firm posted $2.04 EPS. Research analysts expect that BOK Financial will post 8.07 earnings per share for the current year.

Analyst Ratings Changes

BOKF has been the topic of several research reports. Stephens dropped their price objective on shares of BOK Financial from $116.00 to $114.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. Wedbush reiterated a “neutral” rating and set a $115.00 target price on shares of BOK Financial in a research report on Tuesday, October 22nd. Wells Fargo & Company lifted their target price on shares of BOK Financial from $102.00 to $105.00 and gave the company an “equal weight” rating in a research report on Monday, October 28th. Truist Financial upgraded shares of BOK Financial from a “hold” rating to a “buy” rating and lifted their target price for the company from $112.00 to $123.00 in a research report on Friday, September 20th. Finally, Royal Bank of Canada lifted their target price on shares of BOK Financial from $111.00 to $113.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 23rd. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $112.20.

Insider Transactions at BOK Financial

In other news, Director Steven Bangert sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $117.83, for a total transaction of $235,660.00. Following the transaction, the director now directly owns 44,709 shares in the company, valued at approximately $5,268,061.47. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 59.72% of the stock is owned by company insiders.

BOK Financial Company Profile

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.