BOK Financial Corporation (NASDAQ:BOKF) Announces Dividend Increase – $0.78 Per Share

BOK Financial Corporation (NASDAQ:BOKF) announced a quarterly dividend on Tuesday, November 3rd. Shareholders of record on Wednesday, November 18th will be paid a dividend of $0.78 per share by the bank on Thursday, December 3rd. This represents a $3.12 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Wednesday, November 18th. This is a 23.8% increase from BOK Financial’s previous quarterly dividend of $0.63.

BOK Financial has a payout ratio of 28.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect BOK Financial to earn $10.68 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 23.6%.

BOK Financial Stock Performance

BOKF opened at $130.92 on Wednesday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.57. The company’s fifty day moving average price is $130.95 and its two-hundred day moving average price is $132.97. BOK Financial has a 1-year low of $102.72 and a 1-year high of $146.84. The company has a market cap of $7.96 billion, a price-to-earnings ratio of 11.87 and a beta of 0.78.

BOK Financial (NASDAQ:BOKF) last issued its quarterly earnings data on Monday, October 19th. The bank reported $2.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.52 by $0.12. BOK Financial had a net margin of 19.53% and a return on equity of 10.41%. The firm had revenue of $561.45 million during the quarter, compared to analysts’ expectations of $571.40 million. During the same period last year, the company earned $2.22 earnings per share. The business’s revenue was down 34.3% on a year-over-year basis. On average, analysts expect that BOK Financial will post 10.41 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on BOKF shares. Hovde Group initiated coverage on BOK Financial in a research note on Friday, September 11th. They set a “market perform” rating and a $143.00 price target for the company. Citigroup lowered their price objective on BOK Financial from $146.00 to $140.00 and set a “neutral” rating for the company in a research note on Thursday, October 22nd. Keefe, Bruyette & Woods raised their target price on BOK Financial from $143.00 to $146.00 and gave the company a “market perform” rating in a report on Friday, July 24th. Wells Fargo & Company cut BOK Financial from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $148.00 to $135.00 in a research report on Tuesday, September 29th. Finally, Barclays upped their price target on BOK Financial from $150.00 to $155.00 and gave the stock an “equal weight” rating in a report on Monday, August 3rd. Two equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, BOK Financial presently has an average rating of “Hold” and a consensus price target of $143.27.

About BOK Financial

BOK Financial Corporation is a financial services holding company headquartered in Tulsa, Oklahoma. Through its banking and financial-services subsidiaries, the company serves businesses, institutions, individuals and families across the central and southwestern United States.

The company provides commercial banking, consumer banking, wealth management and capital markets services. Its offerings include deposit accounts, commercial and consumer loans, treasury and cash-management services, investment management, trust and private banking, mortgage lending, investment banking, securities brokerage and institutional trading.

BOK Financial operates under banking brands including Bank of Oklahoma, Bank of Texas and Bank of Albuquerque, with additional operations serving customers in Colorado, Kansas, Missouri and Arkansas.