BOK Financial Co. (NASDAQ:BOKF) to Issue Dividend Increase – $0.57 Per Share

BOK Financial Co. (NASDAQ:BOKF) declared a quarterly dividend on Tuesday, October 29th,Wall Street Journal reports. Stockholders 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 dividend yield of 1.97%. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from BOK Financial’s previous quarterly dividend of $0.55.

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 20 consecutive years. BOK Financial has a dividend payout ratio of 26.8% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Down 0.9 %

Shares of NASDAQ BOKF opened at $115.77 on Thursday. The firm’s 50 day moving average price is $106.88 and its 200-day moving average price is $99.34. The company has a market cap of $7.42 billion, a PE ratio of 15.92 and a beta of 1.17. BOK Financial has a 52-week low of $69.76 and a 52-week 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.

BOK Financial (NASDAQ:BOKF) last issued its earnings results 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. The firm had revenue of $888.50 million for the quarter, compared to the consensus estimate of $509.43 million. BOK Financial had a net margin of 13.78% and a return on equity of 9.67%. During the same quarter in the prior year, the firm posted $2.04 earnings per share. On average, equities research analysts expect that BOK Financial will post 8.07 EPS for the current fiscal year.

Insider Buying and Selling at BOK Financial

In other BOK Financial 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 completion of the sale, the director now directly owns 44,709 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. 56.94% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Hovde Group upped their target price on shares of BOK Financial from $106.00 to $122.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. 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. Stephens decreased their price objective on shares of BOK Financial from $116.00 to $114.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. StockNews.com raised shares of BOK Financial from a “sell” rating to a “hold” rating in a report on Friday, July 26th. Finally, Truist Financial raised shares of BOK Financial from a “hold” rating to a “buy” rating and boosted their price objective for the company from $112.00 to $123.00 in a report on Friday, September 20th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $112.20.

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.