BOK Financial Co. (BOKF) to Issue Quarterly Dividend of $0.50

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BOK Financial Co. (NASDAQ:BOKF) declared a quarterly dividend on Friday, November 2nd, Fidelity reports. Investors of record on Monday, November 12th will be given a dividend of 0.50 per share by the bank on Monday, November 26th. This represents a $2.00 annualized dividend and a yield of 2.24%. The ex-dividend date is Thursday, November 8th. This is a boost from BOK Financial’s previous quarterly dividend of $0.40.

BOK Financial has increased its dividend by an average of 3.0% per year over the last three years and has increased its dividend annually for the last 13 consecutive years. BOK Financial has a dividend payout ratio of 29.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect BOK Financial to earn $7.42 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 27.0%.

BOK Financial stock opened at $89.38 on Wednesday. BOK Financial has a fifty-two week low of $80.11 and a fifty-two week high of $107.00. The stock has a market cap of $5.82 billion, a P/E ratio of 16.90, a PEG ratio of 2.00 and a beta of 1.10. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.93 and a current ratio of 0.94.

BOK Financial (NASDAQ:BOKF) last released its quarterly earnings results on Wednesday, October 24th. The bank reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.04. BOK Financial had a net margin of 23.20% and a return on equity of 11.84%. The business had revenue of $408.82 million for the quarter, compared to analysts’ expectations of $403.09 million. During the same period in the previous year, the company earned $1.31 earnings per share. As a group, research analysts anticipate that BOK Financial will post 6.83 earnings per share for the current year.

Several analysts have commented on BOKF shares. Raymond James lowered their price objective on shares of BOK Financial from $110.00 to $100.00 and set an “outperform” rating on the stock in a research report on Thursday, October 25th. BidaskClub raised shares of BOK Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, August 21st. Wells Fargo & Co set a $100.00 price objective on shares of BOK Financial and gave the stock a “hold” rating in a research report on Tuesday, October 2nd. ValuEngine raised shares of BOK Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, October 31st. Finally, Zacks Investment Research raised shares of BOK Financial from a “hold” rating to a “buy” rating and set a $111.00 price objective on the stock in a research report on Monday, August 20th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $105.79.

In other news, Director C Fred Ball, Jr. sold 450 shares of the business’s stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $102.92, for a total value of $46,314.00. Following the sale, the director now owns 3,066 shares of the company’s stock, valued at $315,552.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Stephen D. Grossi sold 1,350 shares of the business’s stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $98.75, for a total transaction of $133,312.50. Following the completion of the sale, the executive vice president now directly owns 20,191 shares in the company, valued at approximately $1,993,861.25. The disclosure for this sale can be found here. In the last three months, insiders sold 2,276 shares of company stock worth $228,788. Insiders own 60.50% of the company’s stock.

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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.

Further Reading: Technical Analysis

Dividend History for BOK Financial (NASDAQ:BOKF)

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