BOK Financial Co. (bokf) Announces $0.44 Quarterly Dividend
BOK Financial Co. (NASDAQ:bokf) announced a quarterly dividend on Wednesday, April 26th. Stockholders 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 dividend yield of 2.16%. The ex-dividend date of this dividend 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 increased its dividend every year for the last 12 years. BOK Financial has a dividend payout ratio of 33.7% meaning its dividend is sufficiently covered by earnings. Analysts expect BOK Financial to earn $5.48 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 up 0.97% during midday trading on Friday, hitting $82.24. 17,402 shares of the stock were exchanged. BOK Financial has a 1-year low of $56.08 and a 1-year high of $88.78. The firm’s 50-day moving average price is $80.19 and its 200 day moving average price is $80.74. The firm has a market capitalization of $5.38 billion, a P/E ratio of 19.41 and a beta of 0.90.
BOK Financial (NASDAQ:BOKF) last posted its quarterly earnings results on Wednesday, April 26th. The bank reported $1.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.31. The business had revenue of $365.53 million during the quarter, compared to analyst estimates of $358.93 million. BOK Financial had a net margin of 15.20% and a return on equity of 6.85%. The company’s revenue was up 17.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.64 earnings per share. Analysts expect that BOK Financial will post $5.24 earnings per share for the current fiscal year.
A number of equities analysts have weighed in on BOKF shares. TheStreet lowered shares of BOK Financial from a “b” rating to a “c+” rating in a research report on Wednesday, February 8th. Zacks Investment Research upgraded shares of BOK Financial from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a research report on Wednesday, March 29th. Royal Bank of Canada restated a “hold” rating on shares of BOK Financial in a research report on Thursday, April 27th. Wedbush upped their target price on shares of BOK Financial from $79.00 to $83.00 and gave the stock a “neutral” rating in a research report on Thursday, April 27th. Finally, Keefe, Bruyette & Woods set a $90.00 price target on shares of BOK Financial and gave the company a “hold” rating in a research note on Tuesday, April 4th. Eight analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. BOK Financial presently has a consensus rating of “Hold” and a consensus price target of $86.00.
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In related news, EVP Scott Grauer sold 865 shares of the firm’s stock in a transaction dated Friday, April 28th. The shares were 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Stephen D. Grossi sold 1,158 shares of the stock in a transaction dated Tuesday, March 28th. The stock was sold at an average price of $76.65, for a total transaction of $88,760.70. Following the transaction, the executive vice president now owns 13,151 shares in the company, valued at $1,008,024.15. The disclosure for this sale can be found here. In the last three months, insiders sold 14,985 shares of company stock worth $1,231,453. Insiders own 61.30% of the company’s stock.
An institutional investor recently raised its position in BOK Financial stock. Teachers Advisors LLC raised its stake in BOK Financial Co. (NASDAQ:BOKF) by 5.8% during the first quarter, according to its most recent filing with the SEC. The firm 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 as of its most recent filing with the SEC. 36.25% of the stock is currently owned by institutional investors.
About BOK Financial
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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