BOK Financial Co. Plans Quarterly Dividend of $0.55 (NASDAQ:BOKF)

BOK Financial Co. (NASDAQ:BOKF) announced a quarterly dividend on Tuesday, July 30th, Wall Street Journal reports. Stockholders of record on Thursday, August 15th will be paid a dividend of 0.55 per share by the bank on Friday, August 30th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend is Thursday, August 15th.

BOK Financial has increased its dividend by an average of 1.9% annually over the last three years and has increased its dividend annually for the last 19 consecutive years. BOK Financial has a dividend payout ratio of 26.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect BOK Financial to earn $8.36 per share next year, which means the company should continue to be able to cover its $2.20 annual dividend with an expected future payout ratio of 26.3%.

BOK Financial Price Performance

NASDAQ:BOKF traded up $0.18 during trading hours on Tuesday, reaching $96.13. 11,359 shares of the company’s stock were exchanged, compared to its average volume of 155,780. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.27. The company has a market capitalization of $6.20 billion, a P/E ratio of 13.99 and a beta of 1.19. BOK Financial has a 12 month low of $62.42 and a 12 month high of $107.97. The business’s 50-day simple moving average is $94.54 and its two-hundred day simple moving average is $90.43.

BOK Financial (NASDAQ:BOKF) last released its quarterly earnings results on Monday, July 22nd. The bank reported $2.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.65. BOK Financial had a net margin of 13.92% and a return on equity of 9.94%. The business had revenue of $871.84 million for the quarter, compared to analyst estimates of $520.43 million. During the same quarter in the previous year, the business earned $2.27 earnings per share. Sell-side analysts expect that BOK Financial will post 7.83 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Hovde Group lifted their target price on shares of BOK Financial from $106.00 to $122.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Raymond James reissued an “outperform” rating and set a $105.00 target price (up from $103.00) on shares of BOK Financial in a research report on Thursday, April 25th. Wedbush boosted their price target on BOK Financial from $94.00 to $115.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Royal Bank of Canada raised their price objective on BOK Financial from $99.00 to $114.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 24th. Finally, Keefe, Bruyette & Woods increased their price target on BOK Financial from $100.00 to $110.00 and gave the company a “market perform” rating in a report on Thursday, July 25th. Nine analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, BOK Financial presently has an average rating of “Hold” and an average price target of $108.00.

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.