BOK Financial Co. (NASDAQ:BOKF) Announces $0.57 Quarterly Dividend

BOK Financial Co. (NASDAQ:BOKF - Get Free Report) announced a quarterly dividend on Tuesday, April 29th, NASDAQ Dividends reports. Stockholders of record on Thursday, May 15th will be given a dividend of 0.57 per share by the bank on Wednesday, May 28th. This represents a $2.28 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend is Thursday, May 15th.

BOK Financial has increased its dividend by an average of 2.0% per year over the last three years and has raised its dividend annually for the last 20 consecutive years. BOK Financial has a dividend payout ratio of 25.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect BOK Financial to earn $9.15 per share next year, which means the company should continue to be able to cover its $2.28 annual dividend with an expected future payout ratio of 24.9%.

BOK Financial Trading Up 0.2%

Shares of NASDAQ BOKF traded up $0.20 during midday trading on Friday, hitting $97.55. The stock had a trading volume of 167,393 shares, compared to its average volume of 158,833. The company's 50-day simple moving average is $95.98 and its 200 day simple moving average is $105.96. The firm has a market cap of $6.27 billion, a P/E ratio of 12.00 and a beta of 0.87. BOK Financial has a fifty-two week low of $85.08 and a fifty-two week high of $121.58. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.75 and a quick ratio of 0.79.

BOK Financial (NASDAQ:BOKF - Get Free Report) last released its earnings results on Monday, April 21st. The bank reported $1.86 EPS for the quarter, missing the consensus estimate of $2.01 by ($0.15). The firm had revenue of $500.37 million during the quarter, compared to analyst estimates of $520.86 million. BOK Financial had a net margin of 15.32% and a return on equity of 9.86%. Research analysts anticipate that BOK Financial will post 8.83 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in BOK Financial stock. Royal Bank of Canada boosted its holdings in shares of BOK Financial Co. (NASDAQ:BOKF - Free Report) by 11.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,201 shares of the bank's stock after acquiring an additional 324 shares during the period. Royal Bank of Canada's holdings in BOK Financial were worth $333,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 34.44% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BOKF. DA Davidson lowered their target price on BOK Financial from $122.00 to $114.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Wells Fargo & Company reduced their price target on BOK Financial from $120.00 to $100.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 9th. Raymond James set a $105.00 price target on BOK Financial in a research report on Tuesday, April 22nd. StockNews.com lowered BOK Financial from a "buy" rating to a "hold" rating in a research report on Monday, March 17th. Finally, Barclays reduced their price target on BOK Financial from $115.00 to $110.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $111.60.

BOK Financial Company Profile

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.