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

BOK Financial Co. (NASDAQ:BOKF) announced a quarterly dividend on Friday, January 31st,Wall Street Journal reports. Stockholders of record on Wednesday, February 12th will be paid a dividend of 0.57 per share by the bank on Wednesday, February 26th. This represents a $2.28 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend is Wednesday, February 12th.

BOK Financial has raised its dividend by an average of 2.0% per year over the last three years and has increased its dividend every year for the last 19 years. BOK Financial has a payout ratio of 24.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect BOK Financial to earn $9.07 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 25.1%.

BOK Financial Stock Performance

Shares of BOK Financial stock traded down $0.60 on Friday, hitting $110.42. The stock had a trading volume of 113,715 shares, compared to its average volume of 139,101. The stock has a market cap of $7.08 billion, a price-to-earnings ratio of 13.58 and a beta of 1.20. BOK Financial has a 52-week low of $78.99 and a 52-week high of $121.58. The company’s 50 day moving average price is $112.47 and its 200 day moving average price is $107.74. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.87.

BOK Financial (NASDAQ:BOKF) last issued its quarterly earnings results on Friday, January 17th. The bank reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.97 by $0.15. BOK Financial had a net margin of 15.32% and a return on equity of 9.96%. On average, research analysts anticipate that BOK Financial will post 8.71 EPS for the current year.

Analyst Upgrades and Downgrades

BOKF has been the topic of several recent research reports. StockNews.com upgraded BOK Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, January 22nd. Wells Fargo & Company boosted their target price on BOK Financial from $105.00 to $112.00 and gave the company an “equal weight” rating in a report on Tuesday, December 3rd. Stephens decreased their price target on BOK Financial from $135.00 to $127.00 and set an “equal weight” rating for the company in a report on Wednesday, January 22nd. Royal Bank of Canada boosted their price target on shares of BOK Financial from $115.00 to $120.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 22nd. Finally, DA Davidson reduced their price objective on shares of BOK Financial from $124.00 to $123.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $116.40.

Insider Buying and Selling

In other BOK Financial news, Director Steven Bangert sold 2,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $117.83, for a total value of $235,660.00. Following the sale, the director now owns 44,709 shares of the company’s stock, valued at $5,268,061.47. This represents a 4.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 56.94% of the company’s stock.

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.