BOK Financial Corporation (NASDAQ:BOKF) declared a quarterly dividend on Wednesday, November 1st, Wall Street Journal reports. Stockholders of record on Monday, November 13th will be given a dividend of 0.45 per share by the bank on Monday, November 27th. This represents a $1.80 annualized dividend and a dividend yield of 2.08%. 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 raised its dividend by an average of 4.0% per year over the last three years and has increased its dividend every year for the last 12 years. BOK Financial Corporation has a dividend payout ratio of 32.8% meaning its dividend is sufficiently covered by earnings. Research 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%.
BOK Financial Corporation (NASDAQ:BOKF) last issued its quarterly earnings data on Wednesday, October 25th. The bank reported $1.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.36 by ($0.05). The company had revenue of $394.16 million during the quarter, compared to the consensus estimate of $392.05 million. BOK Financial Corporation had a net margin of 19.31% and a return on equity of 9.25%. During the same period in the previous year, the company earned $1.13 earnings per share.
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BOKF has been the topic of several research analyst reports. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $90.00 price objective on shares of BOK Financial Corporation in a research report on Tuesday, August 29th. Piper Jaffray Companies reissued a “hold” rating and issued a $89.00 price objective on shares of BOK Financial Corporation in a research report on Friday, July 14th. BidaskClub raised shares of BOK Financial Corporation from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 26th. Royal Bank Of Canada reissued a “hold” rating and issued a $90.00 price objective on shares of BOK Financial Corporation in a research report on Friday, July 7th. Finally, ValuEngine raised shares of BOK Financial Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, September 28th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $90.50.
In other BOK Financial Corporation news, EVP Stephen D. Grossi sold 550 shares of the stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $81.62, for a total transaction of $44,891.00. Following the sale, the executive vice president now directly owns 12,601 shares in the company, valued at $1,028,493.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 62.00% of the stock is currently owned by company insiders.
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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