BOK Financial Co. (NASDAQ:BOKF) to Issue $0.55 Quarterly Dividend

BOK Financial Co. (NASDAQ:BOKFGet Free Report) announced a quarterly dividend on Tuesday, January 30th, Zacks reports. Shareholders of record on Wednesday, February 14th will be given 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 is Tuesday, February 13th.

BOK Financial has increased its dividend payment by an average of 1.9% 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 26.9% indicating that its dividend is sufficiently covered by earnings. Equities research 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 0.1 %

Shares of BOK Financial stock opened at $83.00 on Monday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.31. The company has a market cap of $5.45 billion, a P/E ratio of 10.36 and a beta of 1.21. The firm’s 50 day moving average price is $83.12 and its 200-day moving average price is $79.90. BOK Financial has a 52-week low of $62.42 and a 52-week high of $106.47.

BOK Financial (NASDAQ:BOKFGet Free Report) last announced its earnings results on Wednesday, January 24th. The bank reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($0.49). The firm had revenue of $843.21 million during the quarter, compared to analyst estimates of $485.87 million. BOK Financial had a net margin of 16.94% and a return on equity of 11.63%. During the same quarter last year, the business earned $2.51 earnings per share. On average, sell-side analysts predict that BOK Financial will post 7.57 EPS for the current fiscal year.

Insider Buying and Selling at BOK Financial

In other news, Director Steven Bangert sold 3,000 shares of the stock in a transaction on Monday, February 5th. The shares were sold at an average price of $81.59, for a total value of $244,770.00. Following the sale, the director now owns 50,985 shares in the company, valued at $4,159,866.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 57.78% of the company’s stock.

Hedge Funds Weigh In On BOK Financial

Several institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. lifted its holdings in BOK Financial by 3.9% in the first quarter. BlackRock Inc. now owns 1,396,557 shares of the bank’s stock valued at $117,883,000 after acquiring an additional 52,607 shares during the period. State Street Corp increased its holdings in BOK Financial by 37.0% in the first quarter. State Street Corp now owns 1,231,625 shares of the bank’s stock valued at $115,711,000 after buying an additional 332,904 shares in the last quarter. Millennium Management LLC raised its position in shares of BOK Financial by 75.3% in the fourth quarter. Millennium Management LLC now owns 587,487 shares of the bank’s stock worth $60,975,000 after acquiring an additional 252,346 shares during the period. Geode Capital Management LLC boosted its stake in shares of BOK Financial by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 458,686 shares of the bank’s stock worth $37,053,000 after acquiring an additional 3,022 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC raised its holdings in BOK Financial by 11,085.4% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 357,933 shares of the bank’s stock worth $37,150,000 after purchasing an additional 354,733 shares during the period. Institutional investors and hedge funds own 35.67% of the company’s stock.

Wall Street Analyst Weigh In

BOKF has been the topic of several recent analyst reports. StockNews.com raised BOK Financial from a “sell” rating to a “hold” rating in a research report on Thursday, November 2nd. Wells Fargo & Company lowered BOK Financial from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $90.00 to $70.00 in a research note on Thursday, October 26th. Royal Bank of Canada increased their price objective on shares of BOK Financial from $89.00 to $93.00 and gave the company a “sector perform” rating in a research report on Thursday, January 25th. Stephens boosted their target price on shares of BOK Financial from $96.00 to $98.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 25th. Finally, Citigroup started coverage on shares of BOK Financial in a research note on Friday, December 1st. They set a “neutral” rating and a $78.00 price target on the stock. Nine research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $88.25.

Read Our Latest Report on BOK Financial

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.

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Dividend History for BOK Financial (NASDAQ:BOKF)

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