BOK Financial Co. (NASDAQ:BOKF) to Issue $0.53 Quarterly Dividend

BOK Financial Co. (NASDAQ:BOKFGet Rating) declared a quarterly dividend on Friday, August 5th, Wall Street Journal reports. Shareholders of record on Tuesday, August 16th will be paid a dividend of 0.53 per share by the bank on Thursday, August 25th. This represents a $2.12 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date is Monday, August 15th.

BOK Financial has a payout ratio of 27.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect BOK Financial to earn $7.77 per share next year, which means the company should continue to be able to cover its $2.12 annual dividend with an expected future payout ratio of 27.3%.

BOK Financial Stock Up 1.6 %

NASDAQ BOKF opened at $88.86 on Friday. BOK Financial has a 52 week low of $70.21 and a 52 week high of $120.20. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.04. The business’s fifty day simple moving average is $79.77 and its 200-day simple moving average is $89.75. The firm has a market cap of $6.05 billion, a PE ratio of 12.14 and a beta of 1.39.

BOK Financial (NASDAQ:BOKFGet Rating) last posted its quarterly earnings results on Wednesday, July 27th. The bank reported $1.96 EPS for the quarter, topping the consensus estimate of $1.43 by $0.53. BOK Financial had a return on equity of 9.84% and a net margin of 27.90%. The business had revenue of $442.60 million for the quarter, compared to analyst estimates of $419.97 million. During the same quarter in the previous year, the firm earned $2.40 EPS. The company’s quarterly revenue was down 6.2% compared to the same quarter last year. As a group, equities analysts anticipate that BOK Financial will post 6.87 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on BOKF shares. Wells Fargo & Company lifted their price target on BOK Financial from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, July 28th. Wedbush boosted their price objective on shares of BOK Financial from $78.00 to $86.00 in a report on Thursday, July 28th. Stephens boosted their price objective on shares of BOK Financial from $85.00 to $92.00 and gave the company an “equal weight” rating in a report on Thursday, July 28th. Finally, Truist Financial reduced their price objective on shares of BOK Financial from $91.00 to $87.00 in a report on Wednesday, June 15th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $96.83.

Insider Buying and Selling at BOK Financial

In other BOK Financial news, Director Steven G. Bradshaw sold 10,000 shares of BOK Financial stock in a transaction dated Thursday, May 26th. The stock was sold at an average price of $85.01, for a total value of $850,100.00. Following the completion of the transaction, the director now directly owns 74,029 shares of the company’s stock, valued at approximately $6,293,205.29. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other BOK Financial news, Director Steven Bangert sold 3,000 shares of BOK Financial stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $85.00, for a total value of $255,000.00. Following the completion of the transaction, the director now directly owns 73,927 shares of the company’s stock, valued at approximately $6,283,795. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Steven G. Bradshaw sold 10,000 shares of BOK Financial stock in a transaction dated Thursday, May 26th. The shares were sold at an average price of $85.01, for a total value of $850,100.00. Following the completion of the transaction, the director now directly owns 74,029 shares of the company’s stock, valued at $6,293,205.29. The disclosure for this sale can be found here. Insiders sold a total of 16,000 shares of company stock valued at $1,345,580 in the last three months. 56.94% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BOK Financial

Institutional investors and hedge funds have recently made changes to their positions in the stock. MetLife Investment Management LLC acquired a new position in shares of BOK Financial during the first quarter worth about $57,000. Advisor Group Holdings Inc. grew its position in shares of BOK Financial by 39.7% during the first quarter. Advisor Group Holdings Inc. now owns 2,991 shares of the bank’s stock worth $281,000 after buying an additional 850 shares in the last quarter. Dynamic Technology Lab Private Ltd grew its position in shares of BOK Financial by 124.0% during the first quarter. Dynamic Technology Lab Private Ltd now owns 5,420 shares of the bank’s stock worth $509,000 after buying an additional 3,000 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in shares of BOK Financial by 87.1% during the first quarter. BNP Paribas Arbitrage SA now owns 10,466 shares of the bank’s stock worth $983,000 after buying an additional 4,871 shares in the last quarter. Finally, Prudential Financial Inc. grew its position in shares of BOK Financial by 4.5% during the first quarter. Prudential Financial Inc. now owns 16,669 shares of the bank’s stock worth $1,566,000 after buying an additional 724 shares in the last quarter. 39.12% of the stock is owned by institutional investors and hedge funds.

BOK Financial Company Profile

(Get Rating)

BOK Financial Corporation operates as the financial holding company for BOKF, NA that provides various financial products and services in Oklahoma, Texas, New Mexico, Northwest Arkansas, Colorado, Arizona, and Kansas/Missouri. It operates through three segments: Commercial Banking, Consumer Banking, and Wealth Management.

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Dividend History for BOK Financial (NASDAQ:BOKF)

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