BOK Financial Co. (NASDAQ:bokf) announced a quarterly dividend on Wednesday, April 26th. Investors of record on Friday, May 12th will be given a dividend of 0.44 per share by the bank on Friday, May 26th. This represents a $1.76 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date is Wednesday, May 10th.
BOK Financial has raised its dividend by an average of 4.0% per year over the last three years and has raised its dividend annually for the last 12 consecutive years. BOK Financial has a payout ratio of 33.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect BOK Financial to earn $5.49 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 32.1%.
BOK Financial (NASDAQ:BOKF) traded down 0.16% during mid-day trading on Friday, reaching $81.19. 305,861 shares of the company were exchanged. The firm has a market capitalization of $5.31 billion, a P/E ratio of 19.17 and a beta of 0.90. BOK Financial has a 1-year low of $56.08 and a 1-year high of $88.78. The stock has a 50-day moving average of $81.72 and a 200 day moving average of $81.46.
BOK Financial (NASDAQ:BOKF) last issued its quarterly earnings results on Wednesday, April 26th. The bank reported $1.35 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.31. BOK Financial had a return on equity of 6.85% and a net margin of 15.20%. The business had revenue of $365.53 million during the quarter, compared to the consensus estimate of $358.93 million. During the same period in the previous year, the business earned $0.64 EPS. The business’s quarterly revenue was up 17.6% on a year-over-year basis. Equities research analysts forecast that BOK Financial will post $5.25 earnings per share for the current year.
In other BOK Financial news, EVP Donald T. Parker sold 7,650 shares of the business’s stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $82.75, for a total transaction of $633,037.50. Following the completion of the transaction, the executive vice president now owns 43,610 shares in the company, valued at approximately $3,608,727.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Scott Grauer sold 865 shares of the business’s stock in a transaction on Friday, April 28th. The stock was sold at an average price of $85.57, for a total value of $74,018.05. Following the transaction, the executive vice president now owns 25,685 shares of the company’s stock, valued at approximately $2,197,865.45. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,985 shares of company stock valued at $1,231,453. 61.30% of the stock is owned by company insiders.
An institutional investor recently raised its position in BOK Financial stock. Teachers Advisors LLC raised its position in BOK Financial Co. (NASDAQ:BOKF) by 5.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,911 shares of the bank’s stock after buying an additional 1,582 shares during the period. Teachers Advisors LLC’s holdings in BOK Financial were worth $2,263,000 at the end of the most recent quarter. 36.25% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have recently weighed in on BOKF shares. Wedbush boosted their price target on BOK Financial from $79.00 to $83.00 and gave the company a “neutral” rating in a report on Thursday, April 27th. Zacks Investment Research upgraded BOK Financial from a “hold” rating to a “buy” rating and set a $86.00 price target for the company in a report on Wednesday, March 29th. Royal Bank of Canada reiterated a “hold” rating on shares of BOK Financial in a report on Thursday, April 27th. TheStreet downgraded BOK Financial from a “b” rating to a “c+” rating in a report on Wednesday, February 8th. Finally, Stephens upgraded BOK Financial from an “equal weight” rating to an “overweight” rating in a report on Wednesday, April 26th. Eight analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $86.00.
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BOK Financial Company Profile
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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