BOK Financial Corporation (BOKF) to Issue Quarterly Dividend of $0.45 on November 27th
BOK Financial Corporation (NASDAQ:BOKF) announced a quarterly dividend on Wednesday, November 1st, Wall Street Journal reports. Shareholders of record on Monday, November 13th will be paid a dividend of 0.45 per share by the bank on Monday, November 27th. This represents a $1.80 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date is Friday, November 10th. This is an increase from BOK Financial Corporation’s previous quarterly dividend of $0.44.
BOK Financial Corporation has increased its dividend by an average of 4.0% annually over the last three years and has increased its dividend annually for the last 12 consecutive years. BOK Financial Corporation has a dividend payout ratio of 32.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect BOK Financial Corporation to earn $5.46 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 32.2%.
Shares of BOK Financial Corporation (NASDAQ:BOKF) opened at $86.82 on Friday. BOK Financial Corporation has a 12 month low of $68.72 and a 12 month high of $92.08. The company has a quick ratio of 0.88, a current ratio of 0.91 and a debt-to-equity ratio of 1.82. The stock has a market capitalization of $5,682.98, a price-to-earnings ratio of 18.20, a price-to-earnings-growth ratio of 2.02 and a beta of 1.01.
BOK Financial Corporation (NASDAQ:BOKF) last issued its quarterly earnings results on Wednesday, October 25th. The bank reported $1.31 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.36 by ($0.05). BOK Financial Corporation had a return on equity of 9.15% and a net margin of 19.31%. The business had revenue of $394.16 million during the quarter, compared to analysts’ expectations of $392.05 million. During the same quarter in the previous year, the company posted $1.13 EPS. equities analysts expect that BOK Financial Corporation will post 5.37 earnings per share for the current fiscal year.
BOKF has been the subject of a number of analyst reports. Zacks Investment Research upgraded BOK Financial Corporation from a “hold” rating to a “buy” rating and set a $96.00 price target for the company in a research note on Thursday, August 3rd. Stephens set a $95.00 price target on BOK Financial Corporation and gave the stock a “buy” rating in a research note on Wednesday, July 26th. ValuEngine upgraded BOK Financial Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, September 28th. Morgan Stanley reiterated an “equal weight” rating and issued a $86.00 price target (up previously from $85.00) on shares of BOK Financial Corporation in a research note on Wednesday, October 4th. Finally, Piper Jaffray Companies reiterated a “hold” rating and issued a $89.00 price target on shares of BOK Financial Corporation in a research note on Tuesday, September 12th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $90.50.
In other news, EVP Stephen D. Grossi sold 550 shares of the firm’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $81.62, for a total transaction of $44,891.00. Following the completion of the transaction, the executive vice president now owns 12,601 shares in the company, valued at $1,028,493.62. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 62.00% of the company’s stock.
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About BOK Financial Corporation
BOK Financial Corporation is a financial holding company. The Company offers full service banking in Oklahoma, Texas, New Mexico, Northwest Arkansas, Colorado, Arizona and Kansas/Missouri. The Company’s segments include Commercial Banking, Consumer Banking, Wealth Management, and Funds Management and Other.
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