BOK Financial Corporation (NASDAQ:BOKF) Declares Dividend Increase - $0.78 Per Share

Key Points

• BOK Financial raised its quarterly dividend 23.8%, from $0.63 to $0.78 per share, equivalent to $3.12 annualized and a 2.4% yield. The dividend is payable December 3 to shareholders of record November 18.
• The dividend appears well covered: the company’s payout ratio is 28.3%, and analysts expect next-year earnings of $10.68 per share.
• In its latest quarter, BOK Financial reported EPS of $2.64, beating estimates of $2.52, while revenue fell 34.3% year over year. Analysts’ consensus rating was Hold, with an average price target of $143.27.

BOK Financial Corporation (NASDAQ:BOKF - Get Free Report) declared a quarterly dividend on Tuesday, November 3rd. Investors of record on Wednesday, November 18th will be paid a dividend of $0.78 per share by the bank on Thursday, December 3rd. This represents a $3.12 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Wednesday, November 18th. This is a 23.8% increase from BOK Financial's previous quarterly dividend of $0.63.

BOK Financial has a dividend payout ratio of 28.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect BOK Financial to earn $10.68 per share next year, which means the company should continue to be able to cover its $2.52 annual dividend with an expected future payout ratio of 23.6%.

BOK Financial Stock Performance

Shares of BOK Financial stock opened at $130.92 on Wednesday. BOK Financial has a 12 month low of $102.72 and a 12 month high of $146.84. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.57. The business has a fifty day simple moving average of $130.95 and a two-hundred day simple moving average of $132.97. The firm has a market capitalization of $7.96 billion, a P/E ratio of 11.87 and a beta of 0.78.

BOK Financial (NASDAQ:BOKF - Get Free Report) last released its quarterly earnings data on Monday, October 19th. The bank reported $2.64 EPS for the quarter, topping the consensus estimate of $2.52 by $0.12. BOK Financial had a return on equity of 10.41% and a net margin of 19.53%. The company had revenue of $561.45 million during the quarter, compared to the consensus estimate of $571.40 million. During the same period last year, the company earned $2.22 EPS. BOK Financial's revenue for the quarter was down 34.3% on a year-over-year basis. On average, equities analysts forecast that BOK Financial will post 10.41 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on BOKF. Hovde Group started coverage on BOK Financial in a report on Friday, September 11th. They set a "market perform" rating and a $143.00 price target on the stock. Keefe, Bruyette & Woods lifted their price objective on BOK Financial from $143.00 to $146.00 and gave the stock a "market perform" rating in a report on Friday, July 24th. Wells Fargo & Company cut BOK Financial from an "equal weight" rating to an "underweight" rating and reduced their price objective for the company from $148.00 to $135.00 in a research report on Tuesday, September 29th. Royal Bank Of Canada lowered their target price on BOK Financial from $149.00 to $146.00 and set a "sector perform" rating on the stock in a report on Friday, October 9th. Finally, Stephens dropped their target price on BOK Financial from $148.00 to $141.00 and set an "equal weight" rating on the stock in a research report on Wednesday, October 21st. Two equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $143.27.

About BOK Financial

BOK Financial Corporation is a financial services holding company headquartered in Tulsa, Oklahoma. Through its banking and financial-services subsidiaries, the company serves businesses, institutions, individuals and families across the central and southwestern United States.

The company provides commercial banking, consumer banking, wealth management and capital markets services. Its offerings include deposit accounts, commercial and consumer loans, treasury and cash-management services, investment management, trust and private banking, mortgage lending, investment banking, securities brokerage and institutional trading.

BOK Financial operates under banking brands including Bank of Oklahoma, Bank of Texas and Bank of Albuquerque, with additional operations serving customers in Colorado, Kansas, Missouri and Arkansas.

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