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

BOK Financial Co. (NASDAQ:BOKFGet Free Report) announced a quarterly dividend on Tuesday, January 30th, Zacks reports. Stockholders of record on Wednesday, February 14th will be paid a dividend of 0.55 per share by the bank on Wednesday, February 28th. This represents a $2.20 annualized dividend and a dividend yield of 2.65%. The ex-dividend date of this dividend is Tuesday, February 13th.

BOK Financial has increased its dividend payment by an average of 1.9% annually over the last three years and has increased its dividend every year for the last 19 years. BOK Financial has a dividend payout ratio of 26.9% meaning its dividend is sufficiently covered by earnings. Analysts expect BOK Financial to earn $8.04 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 27.4%.

BOK Financial Stock Up 1.7 %

Shares of BOKF opened at $82.91 on Friday. The stock has a market capitalization of $5.44 billion, a PE ratio of 10.36 and a beta of 1.21. BOK Financial has a 1 year low of $62.42 and a 1 year high of $106.47. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.80 and a current ratio of 0.80. The company’s 50-day simple moving average is $83.12 and its 200-day simple moving average is $79.97.

BOK Financial (NASDAQ:BOKFGet Free Report) last issued its quarterly earnings results on Wednesday, January 24th. The bank reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($0.49). The business had revenue of $843.21 million for the quarter, compared to analyst estimates of $485.87 million. BOK Financial had a return on equity of 11.63% and a net margin of 16.94%. During the same period in the prior year, the company posted $2.51 EPS. Analysts forecast that BOK Financial will post 7.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BOKF. StockNews.com raised shares of BOK Financial from a “sell” rating to a “hold” rating in a research report on Thursday, November 2nd. Citigroup assumed coverage on shares of BOK Financial in a report on Friday, December 1st. They issued a “neutral” rating and a $78.00 target price on the stock. Royal Bank of Canada raised their target price on shares of BOK Financial from $89.00 to $93.00 and gave the company a “sector perform” rating in a report on Thursday, January 25th. Wells Fargo & Company cut shares of BOK Financial from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $90.00 to $70.00 in a report on Thursday, October 26th. Finally, Keefe, Bruyette & Woods raised their target price on shares of BOK Financial from $92.00 to $94.00 and gave the company a “market perform” rating in a report on Thursday, January 25th. Nine investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $88.25.

Read Our Latest Research Report on BOK Financial

Insiders Place Their Bets

In other BOK Financial news, Director Steven Bangert sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $81.59, for a total transaction of $244,770.00. Following the sale, the director now owns 50,985 shares of the company’s stock, valued at $4,159,866.15. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 56.94% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BOK Financial

A number of hedge funds have recently modified their holdings of BOKF. Comerica Bank purchased a new position in shares of BOK Financial during the third quarter worth approximately $28,000. Quarry LP grew its position in shares of BOK Financial by 736.7% during the first quarter. Quarry LP now owns 410 shares of the bank’s stock worth $35,000 after acquiring an additional 361 shares during the last quarter. Coppell Advisory Solutions Corp. purchased a new position in shares of BOK Financial during the fourth quarter worth approximately $43,000. Captrust Financial Advisors grew its position in BOK Financial by 32.3% in the 2nd quarter. Captrust Financial Advisors now owns 680 shares of the bank’s stock valued at $51,000 after buying an additional 166 shares during the last quarter. Finally, MetLife Investment Management LLC purchased a new position in BOK Financial in the 1st quarter valued at $57,000. 35.67% of the stock is currently owned by hedge funds and other institutional investors.

BOK Financial Company Profile

(Get Free Report)

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

Dividend History for BOK Financial (NASDAQ:BOKF)

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