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

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 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend is Friday, November 15th. This is a boost from BOK Financial’s previous quarterly dividend of $0.55.

BOK Financial has increased 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% meaning its dividend is sufficiently covered by earnings. 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 %

Shares of BOKF stock opened at $116.80 on Wednesday. BOK Financial has a 12-month low of $68.82 and a 12-month high of $119.52. The company has a market capitalization of $7.49 billion, a PE ratio of 16.07 and a beta of 1.17. The firm has a 50 day moving average price of $106.63 and a two-hundred day moving average price of $99.22. 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 released its quarterly earnings results on Monday, October 21st. The bank reported $2.18 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.20. BOK Financial had a return on equity of 9.67% and a net margin of 13.78%. The business had revenue of $888.50 million during the quarter, compared to analysts’ expectations of $509.43 million. During the same period last year, the firm posted $2.04 EPS. As a group, analysts predict that BOK Financial will post 8.07 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on BOKF shares. StockNews.com upgraded shares of BOK Financial from a “sell” rating to a “hold” rating in a research note on Friday, July 26th. Truist Financial upgraded shares of BOK Financial from a “hold” rating to a “buy” rating and increased their target price for the stock from $112.00 to $123.00 in a research report on Friday, September 20th. Keefe, Bruyette & Woods lifted their price target 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. 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. Finally, Royal Bank of Canada raised their price objective on BOK Financial from $111.00 to $113.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 23rd. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, BOK Financial has an average rating of “Hold” and an average price target of $112.20.

Insider Buying and Selling

In other BOK Financial news, Director Steven Bangert sold 2,000 shares of BOK Financial stock in a transaction dated 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 owns 44,709 shares in the company, valued at $5,268,061.47. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 59.72% 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.