BOK Financial Corporation (NASDAQ:BOKF) to Issue Quarterly Dividend of $0.63

BOK Financial Corporation (NASDAQ:BOKF) declared a quarterly dividend on Tuesday, May 5th. Shareholders of record on Wednesday, May 13th will be paid a dividend of 0.63 per share by the bank on Wednesday, May 27th. This represents a c) annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Wednesday, May 13th.

BOK Financial has increased its dividend by an average of 0.0%annually over the last three years and has increased its dividend every year for the last 20 years. BOK Financial has a dividend payout ratio of 28.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect BOK Financial to earn $10.81 per share next year, which means the company should continue to be able to cover its $2.52 annual dividend with an expected future payout ratio of 23.3%.

BOK Financial Stock Performance

Shares of NASDAQ:BOKF opened at $132.47 on Monday. The stock has a market capitalization of $8.05 billion, a price-to-earnings ratio of 13.41 and a beta of 0.83. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.81 and a current ratio of 0.81. The stock’s 50-day simple moving average is $130.01 and its two-hundred day simple moving average is $123.37. BOK Financial has a 52-week low of $91.35 and a 52-week high of $139.73.

BOK Financial (NASDAQ:BOKF) last announced its earnings results on Monday, April 20th. The bank reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.28. The business had revenue of $553.82 million for the quarter, compared to analysts’ expectations of $549.71 million. BOK Financial had a return on equity of 9.89% and a net margin of 18.05%.During the same period last year, the firm posted $1.86 earnings per share. Analysts expect that BOK Financial will post 10.24 EPS for the current year.

Insider Activity at BOK Financial

In related news, Director Steven Bangert sold 500 shares of BOK Financial stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $134.91, for a total transaction of $67,455.00. Following the sale, the director owned 10,436 shares of the company’s stock, valued at approximately $1,407,920.76. This trade represents a 4.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jeffrey A. Reid sold 1,200 shares of BOK Financial stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $135.52, for a total value of $162,624.00. Following the sale, the executive vice president directly owned 8,116 shares in the company, valued at $1,099,880.32. This trade represents a 12.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 3,800 shares of company stock worth $513,117 in the last three months. 63.53% of the stock is owned by corporate insiders.

Institutional Trading of BOK Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its stake in BOK Financial by 1.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,708,525 shares of the bank’s stock valued at $346,843,000 after purchasing an additional 34,833 shares during the period. CIBC Bancorp USA Inc. bought a new stake in BOK Financial in the 3rd quarter worth approximately $123,231,000. Cibc World Markets Corp bought a new stake in BOK Financial in the 4th quarter worth approximately $130,994,000. Cibc World Market Inc. increased its stake in BOK Financial by 39.0% in the 4th quarter. Cibc World Market Inc. now owns 908,800 shares of the bank’s stock worth $107,656,000 after acquiring an additional 254,800 shares during the last quarter. Finally, State Street Corp increased its stake in BOK Financial by 5.3% in the 4th quarter. State Street Corp now owns 872,649 shares of the bank’s stock worth $103,374,000 after acquiring an additional 44,068 shares during the last quarter. Institutional investors own 34.44% of the company’s stock.

About BOK Financial

BOK Financial Corporation (NASDAQ: BOKF), headquartered in Tulsa, Oklahoma, is a diversified financial services holding company serving businesses, professionals and individuals across the central and western United States. Through its banking subsidiary, BOK Financial offers a full suite of commercial banking, treasury and payment management services, as well as consumer deposit and lending solutions. The company’s offerings also encompass wealth management, trust and asset management, investment banking, and insurance products designed to meet the needs of both retail and institutional clients.

The roots of BOK Financial date back to the founding of the Bank of Oklahoma in 1910.