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BOK Financial

Nasdaq:BOKF
Snowflake Description

Excellent balance sheet established dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
BOKF
Nasdaq
$6B
Market Cap
  1. Home
  2. US
  3. Banks
Company description

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. The last earnings update was 15 days ago. More info.


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BOKF Share Price and Events
7 Day Returns
-5.1%
NasdaqGS:BOKF
-5.7%
US Banks
-3.9%
US Market
1 Year Returns
-23.3%
NasdaqGS:BOKF
-10.9%
US Banks
1.4%
US Market
BOKF Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
BOK Financial (BOKF) -5.1% -7.5% -10.7% -23.3% 34% 28.3%
US Banks -5.7% -3.1% -1% -10.9% 44.6% 47.9%
US Market -3.9% -3.6% 1.8% 1.4% 35.8% 40.8%
1 Year Return vs Industry and Market
  • BOKF underperformed the Banks industry which returned -10.9% over the past year.
  • BOKF underperformed the Market in United States of America which returned 1.4% over the past year.
Price Volatility
BOKF
Industry
5yr Volatility vs Market

Value

 Is BOK Financial undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of BOK Financial to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for BOK Financial.

NasdaqGS:BOKF Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 11 analysts.
= Stable Book Value * Return on Equity
= $68.72 * 11.4%
$7.83
Book Value of Equity per Share Weighted future Book Value estimates from 11 analysts. $68.72
Discount Rate (Cost of Equity) See below 10.5%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGS:BOKF
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.63
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.632 (1 + (1- 21%) (162.77%))
1.298
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.3
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.298 * 5.96%)
10.47%

Discounted Cash Flow Calculation for NasdaqGS:BOKF using Excess Returns Model Model

The calculations below outline how an intrinsic value for BOK Financial is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NasdaqGS:BOKF Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (11.4% – 10.47%) * $68.72)
$0.64
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $0.64 / (10.47% - 2.73%)
$8.29
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $68.72 + $8.29
$77.01
NasdaqGS:BOKF Discount to Share Price
Calculation Result
Value per share (USD) From above. $77.01
Current discount Discount to share price of $80.45
= -1 x ($80.45 - $77.01) / $77.01
-4.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of BOK Financial is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for BOK Financial's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are BOK Financial's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGS:BOKF PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $6.55
NasdaqGS:BOKF Share Price ** NasdaqGS (2019-05-15) in USD $80.45
United States of America Banks Industry PE Ratio Median Figure of 592 Publicly-Listed Banks Companies 12.8x
United States of America Market PE Ratio Median Figure of 3,087 Publicly-Listed Companies 17.79x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of BOK Financial.

NasdaqGS:BOKF PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:BOKF Share Price ÷ EPS (both in USD)

= 80.45 ÷ 6.55

12.28x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • BOK Financial is good value based on earnings compared to the US Banks industry average.
  • BOK Financial is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does BOK Financial's expected growth come at a high price?
Raw Data
NasdaqGS:BOKF PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 12.28x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts
8.2%per year
United States of America Banks Industry PEG Ratio Median Figure of 269 Publicly-Listed Banks Companies 1.42x
United States of America Market PEG Ratio Median Figure of 2,113 Publicly-Listed Companies 1.52x

*Line of best fit is calculated by linear regression .

NasdaqGS:BOKF PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 12.28x ÷ 8.2%

1.5x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • BOK Financial is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on BOK Financial's assets?
Raw Data
NasdaqGS:BOKF PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $63.30
NasdaqGS:BOKF Share Price * NasdaqGS (2019-05-15) in USD $80.45
United States of America Banks Industry PB Ratio Median Figure of 597 Publicly-Listed Banks Companies 1.2x
United States of America Market PB Ratio Median Figure of 5,195 Publicly-Listed Companies 1.83x
NasdaqGS:BOKF PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:BOKF Share Price ÷ Book Value per Share (both in USD)

= 80.45 ÷ 63.30

1.27x

* Primary Listing of BOK Financial.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • BOK Financial is overvalued based on assets compared to the US Banks industry average.
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Value checks
We assess BOK Financial's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. BOK Financial has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is BOK Financial expected to perform in the next 1 to 3 years based on estimates from 11 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
8.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is BOK Financial expected to grow at an attractive rate?
  • BOK Financial's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • BOK Financial's earnings growth is positive but not above the United States of America market average.
  • BOK Financial's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGS:BOKF Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGS:BOKF Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts 8.2%
NasdaqGS:BOKF Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 11 Analysts 4.4%
United States of America Banks Industry Earnings Growth Rate Market Cap Weighted Average 3.9%
United States of America Banks Industry Revenue Growth Rate Market Cap Weighted Average 4%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGS:BOKF Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGS:BOKF Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 1,911 1
2020-12-31 1,871 538 5
2019-12-31 1,808 504 6
NasdaqGS:BOKF Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 1,640 -1,510 447
2018-12-31 1,594 -552 442
2018-09-30 1,571 3 406
2018-06-30 1,561 -950 374
2018-03-31 1,553 235 348
2017-12-31 1,544 215 331
2017-09-30 1,491 222 309
2017-06-30 1,462 -49 297
2017-03-31 1,423 -268 275
2016-12-31 1,356 -92 230
2016-09-30 1,330 -368 239
2016-06-30 1,299 569 240

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • BOK Financial's earnings are expected to grow by 8.2% yearly, however this is not considered high growth (20% yearly).
  • BOK Financial's revenue is expected to grow by 4.4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGS:BOKF Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below

All data from BOK Financial Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:BOKF Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31
2020-12-31 7.66 7.94 7.25 10.00
2019-12-31 7.10 7.22 6.96 10.00
NasdaqGS:BOKF Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 6.55
2018-12-31 6.63
2018-09-30 6.26
2018-06-30 5.78
2018-03-31 5.38
2017-12-31 5.11
2017-09-30 4.77
2017-06-30 4.59
2017-03-31 4.24
2016-12-31 3.53
2016-09-30 3.65
2016-06-30 3.63

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • BOK Financial is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess BOK Financial's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
BOK Financial has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has BOK Financial performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare BOK Financial's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • BOK Financial's year on year earnings growth rate has been positive over the past 5 years.
  • BOK Financial's 1-year earnings growth exceeds its 5-year average (28.4% vs 8.2%)
  • BOK Financial's earnings growth has not exceeded the US Banks industry average in the past year (28.4% vs 40.8%).
Earnings and Revenue History
BOK Financial's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from BOK Financial Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:BOKF Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 1,640.30 447.15 946.39
2018-12-31 1,593.65 441.91 902.70
2018-09-30 1,571.21 406.00 884.07
2018-06-30 1,560.55 374.47 890.29
2018-03-31 1,553.04 348.27 899.66
2017-12-31 1,543.80 331.08 902.49
2017-09-30 1,491.05 308.75 881.87
2017-06-30 1,462.04 297.35 869.72
2017-03-31 1,422.74 275.11 860.66
2016-12-31 1,356.25 229.79 863.93
2016-09-30 1,329.80 239.24 836.95
2016-06-30 1,299.22 239.87 817.53
2016-03-31 1,299.08 253.18 804.24
2015-12-31 1,327.83 285.18 795.17
2015-09-30 1,337.90 289.87 791.96
2015-06-30 1,335.09 290.61 790.26
2015-03-31 1,319.31 287.33 780.32
2014-12-31 1,287.15 289.20 754.00
2014-09-30 1,287.82 297.85 746.94
2014-06-30 1,275.88 298.06 727.76
2014-03-31 1,275.88 302.12 728.08
2013-12-31 1,322.65 313.22 750.00
2013-09-30 1,332.98 323.03 739.15
2013-06-30 1,369.13 335.19 749.65
2013-03-31 1,412.51 352.77 747.45
2012-12-31 1,383.23 348.65 728.24
2012-09-30 1,366.45 333.11 715.65
2012-06-30 1,359.48 330.43 691.15

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • BOK Financial has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • BOK Financial used its assets more efficiently than the US Banks industry average last year based on Return on Assets.
  • Unable to establish if BOK Financial improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess BOK Financial's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
BOK Financial has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is BOK Financial's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of BOK Financial's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from BOK Financial Company Filings, last reported 1 month ago.

NasdaqGS:BOKF Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 4,531.71 9,356.34 3,782.25
2018-12-31 4,443.05 7,781.02 3,421.28
2018-09-30 3,625.76 7,213.32 3,209.13
2018-06-30 3,576.05 7,189.03 3,741.79
2018-03-31 3,517.34 6,651.24 4,178.55
2017-12-31 3,518.33 6,026.50 3,000.23
2017-09-30 3,514.44 7,112.82 3,440.66
2017-06-30 3,449.55 6,127.14 3,362.12
2017-03-31 3,370.89 6,216.00 3,749.10
2016-12-31 3,306.36 6,381.83 3,565.00
2016-09-30 3,432.41 7,865.67 3,818.59
2016-06-30 3,402.74 7,451.17 3,501.85
2016-03-31 3,356.27 7,258.68 3,382.36
2015-12-31 3,267.64 6,859.57 3,352.27
2015-09-30 3,416.16 6,115.55 3,226.66
2015-06-30 3,412.83 5,955.43 3,351.29
2015-03-31 3,390.25 5,458.41 3,191.10
2014-12-31 3,336.21 4,080.83 3,026.42
2014-09-30 3,277.31 5,292.25 3,096.08
2014-06-30 3,247.65 3,655.35 1,806.65
2014-03-31 3,144.60 3,508.32 1,659.08
2013-12-31 3,054.97 3,316.88 1,443.84
2013-09-30 3,026.97 4,192.25 1,689.20
2013-06-30 2,992.88 4,943.62 1,815.18
2013-03-31 3,047.89 3,992.93 1,472.69
2012-12-31 2,993.68 3,337.44 1,838.45
2012-09-30 3,012.48 4,031.59 1,255.39
2012-06-30 2,922.72 3,372.19 1,154.78
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • BOK Financial has an acceptable proportion of non-loan assets held.
  • BOK Financial's liabilities are made up of primarily low risk sources of funding.
  • Loans at BOK Financial are broadly funded by customer deposits.
  • BOK Financial's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).
  • BOK Financial has a low allowance for bad loans.
  • BOK Financial has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess BOK Financial's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. BOK Financial has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is BOK Financial's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.49%
Current annual income from BOK Financial dividends. Estimated to be 2.7% next year.
If you bought $2,000 of BOK Financial shares you are expected to receive $50 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • BOK Financial's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.46%).
  • BOK Financial's dividend is below the markets top 25% of dividend payers in United States of America (3.71%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGS:BOKF Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below
United States of America Banks Industry Average Dividend Yield Market Cap Weighted Average of 472 Stocks 2.9%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1997 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGS:BOKF Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 3.03 1.00
2020-12-31 2.23 8.00
2019-12-31 2.02 9.00
NasdaqGS:BOKF Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-05-01 2.000 2.356
2019-04-24 2.000 2.306
2019-03-01 2.000 2.361
2019-01-30 2.000 2.270
2018-10-30 2.000 2.482
2018-10-24 2.000 2.392
2018-07-31 2.000 2.036
2018-07-25 2.000 2.029
2018-04-25 1.800 1.799
2018-02-27 1.800 1.808
2018-01-24 1.800 1.886
2017-10-31 1.800 2.012
2017-07-28 1.760 2.081
2017-07-26 1.760 2.062
2017-04-26 1.760 2.104
2017-01-25 1.760 2.197
2016-10-26 1.760 2.202
2016-07-27 1.720 2.527
2016-04-29 1.720 2.802
2016-04-27 1.720 2.854
2016-02-29 1.720 3.074
2016-01-27 1.720 3.490
2015-10-30 1.720 2.839
2015-10-28 1.720 2.565
2015-07-31 1.680 2.635
2015-07-29 1.680 2.513
2015-04-29 1.680 2.508
2015-01-28 1.680 2.786
2014-10-29 1.680 2.739
2014-07-30 1.600 2.399
2014-05-02 1.600 2.468
2014-04-30 1.600 2.461
2014-02-26 1.600 2.377
2014-01-29 1.600 2.513
2013-10-30 1.600 2.513
2013-07-31 1.520 2.351
2013-04-30 1.520 2.335
2013-02-27 1.520 2.470
2013-01-30 1.520 2.636
2012-10-31 1.520 2.721
2012-08-01 1.520 2.608
2012-04-24 1.520 2.685
2012-02-01 1.320 2.419
2011-10-26 1.320 2.413
2011-07-27 1.100 2.295
2011-04-26 1.100 2.064
2011-01-26 1.000 1.940
2010-10-27 1.000 1.964
2010-08-03 1.000 2.206
2010-07-28 1.000 2.025
2010-04-27 1.000 1.968
2010-02-26 0.960 1.889
2010-01-27 0.960 2.054
2009-10-28 0.960 2.067
2009-07-29 0.960 2.115

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of BOK Financial's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.2x coverage).
X
Income/ dividend checks
We assess BOK Financial's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can BOK Financial afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. BOK Financial has a total score of 5/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of BOK Financial's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Steve Bradshaw
COMPENSATION $4,813,469
AGE 58
TENURE AS CEO 5.3 years
CEO Bio

Mr. Steven Glen Bradshaw, also known as Steve serves as President and Chief Executive Officer of BOK Financial Corporation (“BOK Financial”) and BOKF, National Association ("BOKF") since January 1, 2014. Mr. Bradshaw also serves as Director of BOK Financial Corporation and BOKF, National Association ("BOKF") since 2014. In his more than 20 years at BOK Financial, he has served in a number of roles. Most recently he served as senior Executive Vice President. He also served as Chairman of BOK Financial’s broker-dealer subsidiary, BOK financial Securities, Inc., and had executive responsibility for two BOK Financial subsidiary banks, Colorado State Bank and Trust and Mobank. He joined BOK Financial in 1991 and became president of BancOklahoma Investment Center and BOK Financial Securities, Inc. He then served as senior vice president/private financial services manager. He earned his bachelor’s degree in Business Finance from the University of Central Oklahoma and graduated with distinction from the Southwestern Graduate School of Banking at Southern Methodist University in Dallas. Very active in the community, he currently serves on the board of the Tulsa Regional Chamber and is former chairman of its convention and visitor’s bureau, Visit Tulsa. He serves on The University of Tulsa board of trustees and the board of directors of Oklahoma State University's Lew Wentz Foundation. He is a past board member of Tulsa Community Foundation, Tulsa River Parks Authority, Metropolitan Tulsa Urban League, YWCA Tulsa, Tulsa Habitat for Humanity, Domestic Violence Intervention Services (DVIS), and Junior Achievement of Oklahoma. He has held numerous other civic and social board positions throughout his career, including active leadership in multiple Tulsa Area United Way campaigns.

CEO Compensation
  • Steve's compensation has increased by more than 20% in the past year.
  • Steve's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the BOK Financial management team in years:

5.3
Average Tenure
55
Average Age
  • The average tenure for the BOK Financial management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Steve Bradshaw

TITLE
President
COMPENSATION
$5M
AGE
58
TENURE
5.3 yrs

Steven Nell

TITLE
Executive VP
COMPENSATION
$2M
AGE
56
TENURE
18.3 yrs

Stacy Kymes

TITLE
Executive Vice President of Corporate Banking
COMPENSATION
$2M
AGE
47
TENURE
4.2 yrs

Scott Grauer

TITLE
Executive Vice President of Wealth Management
COMPENSATION
$2M
AGE
53

Norm Bagwell

TITLE
Executive VP of Regional Banks
COMPENSATION
$2M
AGE
55

John Morrow

TITLE
Senior VP & Chief Accounting Officer
AGE
62
TENURE
10.3 yrs

Joe Gottron

TITLE
Executive VP & Chief Information Officer
AGE
55
TENURE
1.7 yrs

Frederic Dorwart

TITLE
Secretary & Legal Counsel

Dean Miller

TITLE
Senior Vice President and Senior Compliance Manager
TENURE
8.7 yrs

Sue Hermann

TITLE
Senior VP & Director of Corporate Communications
TENURE
0.2 yrs
Board of Directors Tenure

Average tenure and age of the BOK Financial board of directors in years:

14.2
Average Tenure
58
Average Age
  • The average tenure for the BOK Financial board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

George Kaiser

TITLE
Chairman
AGE
75
TENURE
28.3 yrs

Steve Bradshaw

TITLE
President
COMPENSATION
$5M
AGE
58
TENURE
5.3 yrs

Steven Nell

TITLE
Executive VP
COMPENSATION
$2M
AGE
56
TENURE
1.3 yrs

John Wilkinson

TITLE
Chairman Emeritus of Colorado State Bank & Trust N A

Dave Ralston

TITLE
Chairman & CEO of Bank of Arizona
AGE
61

Jennifer Thomas

TITLE
Chairman & CEO of Bank of Albuquerque
AGE
58

E. Joullian

TITLE
Director
COMPENSATION
$54K
AGE
57
TENURE
24.3 yrs

David Griffin

TITLE
Director
COMPENSATION
$51K
AGE
52
TENURE
16.3 yrs

Robert Goodman

TITLE
Vice Chairman Bank of Albuquerque N A and Director of Bank of Albuquerque N A
AGE
73

Joe Craft

TITLE
Director
COMPENSATION
$45K
AGE
67
TENURE
12.1 yrs
Who owns this company?
Recent Insider Trading
  • BOK Financial insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
03. May 19 Sell Steven Bangert Individual 02. May 19 02. May 19 -10,000 $86.84 $-868,379
14. Feb 19 Buy Joseph Gottron Individual 31. Jul 18 31. Jul 18 610 $97.50 $59,476
07. Feb 19 Buy George Kaiser Individual 07. Feb 19 07. Feb 19 3,000 $85.83 $257,490
02. Jan 19 Buy Joseph Gottron Individual 31. Dec 18 31. Dec 18 1,900 $72.69 $138,103
14. Feb 19 Sell Steven Bangert Individual 27. Dec 18 27. Dec 18 -11,500 $73.01 $-839,615
27. Dec 18 Sell Jack Finley Individual 26. Dec 18 26. Dec 18 -150 $72.68 $-10,902
14. Feb 19 Sell Steven Bangert Individual 28. Nov 18 28. Nov 18 -1,020 $84.40 $-86,092
21. Nov 18 Buy John Coffey Individual 20. Nov 18 20. Nov 18 3,000 $81.74 $245,210
31. Oct 18 Buy Joseph Gottron Individual 31. Oct 18 31. Oct 18 400 $86.07 $34,428
13. Sep 18 Sell Charles Ball Individual 12. Sep 18 12. Sep 18 -450 $102.92 $-46,312
05. Sep 18 Sell Charles Ball Individual 04. Sep 18 04. Sep 18 -476 $103.29 $-49,162
14. Aug 18 Sell Stephen Grossi Individual 13. Aug 18 13. Aug 18 -1,350 $98.81 $-133,308
03. Jul 18 Buy Joseph Gottron Individual 29. Jun 18 29. Jun 18 2,100 $94.63 $198,723
04. Jun 18 Sell Patrick Piper Individual 01. Jun 18 01. Jun 18 -12,962 $103.09 $-1,336,212
29. May 18 Sell Patrick Piper Individual 25. May 18 25. May 18 -38 $103.00 $-3,914
24. May 18 Sell Patrick Piper Individual 23. May 18 24. May 18 -6,076 $104.20 $-628,178
X
Management checks
We assess BOK Financial's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. BOK Financial has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Is BOK Financial Corporation (NASDAQ:BOKF) Potentially Undervalued?

BOK Financial Corporation (NASDAQ:BOKF), operating in the financial services industry based in United States,. … As a mid-cap stock with high coverage by analysts, you could assume any recent changes in the company’s outlook is already priced into the stock? … Let’s take a look at BOK Financial’s outlook and value based on the most recent financial data to see if the opportunity still exists.

Simply Wall St -

BOK Financial Corporation (NASDAQ:BOKF) Has Got What It Takes To Be An Attractive Dividend Stock

Could BOK Financial Corporation (NASDAQ:BOKF) be an attractive dividend share to own for the long haul? Investors are often drawn to a company for its dividend.. … Before you buy any stock for its dividend however, you should always remember Warren Buffett's two rules: 1) Don't lose money, and 2) Remember rule #1 … NasdaqGS:BOKF Historical Dividend Yield, April 17th 2019

Simply Wall St -

The BOK Financial (NASDAQ:BOKF) Share Price Is Up 62% And Shareholders Are Holding On

One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement. … BOK Financial was able to grow its EPS at 16% per year over three years, sending the share price higher. … Rather, the share price has approximately tracked EPS growth.

Simply Wall St -

Is BOK Financial Corporation's (NASDAQ:BOKF) CEO Being Overpaid?

First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Steve Bradshaw's Compensation Compare With Similar Sized Companies. … Our data indicates that BOK Financial Corporation is worth US$5.9b, and total annual CEO compensation is US$4.8m.

Simply Wall St -

BOK Financial Corporation (NASDAQ:BOKF) Insiders Have Been Selling

So shareholders might well want to know whether insiders have been buying or selling shares in BOK Financial Corporation (NASDAQ:BOKF). … But logic dictates you should pay some attention to whether insiders are buying or selling shares. … But insiders sold 52.47k shares worth US$4.9m.

Simply Wall St -

Can BOK Financial Corporation (NASDAQ:BOKF) Survive The Next Financial Crisis?

As a small-cap bank stock with a market capitalisation of US$6.5b, BOK Financial Corporation’s (NASDAQ:BOKF) risk and profitability are largely determined by the underlying economic growth of the US regions in which it operates. … After the Financial Crisis in 2008, a set of reforms called Basel III was created with the purpose of strengthening regulation, risk management and supervision in the banking sector. … Low levels of leverage coupled with sufficient liquidity may place BOK Financial in a safe position in the face of adverse headwinds.

Simply Wall St -

BOK Financial Corporation (NASDAQ:BOKF) Investors Are Paying Above The Intrinsic Value

Participate in a short research study and receive a subscription valued at $60. … BOKF operates in the banking industry, which has characteristics that make it unique compared to other sectors. … For example, banks are required to hold more capital to reduce the risk to depositors.

Simply Wall St -

Does BOK Financial Corporation's (NASDAQ:BOKF) P/E Ratio Signal A Buying Opportunity?

The goal of this article is to teach you how to use price to earnings ratios (P/E ratios). … BOK Financial has a price to earnings ratio of 12.45, based on the last twelve months. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

Risk Factors To Consider Before Investing In BOK Financial Corporation (NASDAQ:BOKF)

Economic growth impacts the stability of salaries and interest rate level which in turn affects borrowers’ demand for, and ability to repay, their loans. … Risk associate with repayment is measured by the level of bad debt which is an expense written off BOK Financial’s bottom line. … Today we will analyse BOK Financial’s level of bad debt and liabilities in order to understand the risk involved with investing in the bank.

Simply Wall St -

What Makes BOK Financial Corporation (NASDAQ:BOKF) A Great Dividend Stock?

There is a lot to be liked about BOK Financial Corporation (NASDAQ:BOKF) as an income stock. … The stock currently pays out a dividend yield of 2.8%, and has a market cap of US$5.2b. … 5 questions I ask before picking a dividend stock

Simply Wall St -

Company Info

Description

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. The Commercial Banking segment offers lending, treasury, and cash management services, as well as customer risk management products for small businesses, middle market, and larger commercial customers. This segment also operates TransFund electronic funds network. The Consumer Banking segment provides lending and deposit services to small business customers through the retail branch network; and mortgage banking services. The Wealth Management segment offers fiduciary, private banking, and investment advisory services; and brokerage and trading services, as well as underwrites state and municipal securities. The company also provides commercial loans, such as loans for working capital, facilities acquisition or expansion, purchases of equipment, and other needs of commercial customers; and service, healthcare, wholesale/retail sector, and energy sector loans. In addition, it offers commercial real estate loans for the construction of buildings or other enhancements to real estate and property held by borrowers for investment purposes; and residential mortgage, personal, and home equity loans. Further, the company provides automated teller machine (ATM), call center, and Internet and mobile banking services. As of December 31, 2018, it operated 2,426 TransFund ATM locations. BOK Financial Corporation was founded in 1910 and is headquartered in Tulsa, Oklahoma.

Details
Name: BOK Financial Corporation
BOKF
Exchange: NasdaqGS
Founded: 1910
$5,748,151,051
71,449,982
Website: http://www.bokf.com
Address: BOK Financial Corporation
Bank of Oklahoma Tower,
Boston Avenue at Second Street,
Tulsa,
Oklahoma, 74172,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS BOKF Common Stock Nasdaq Global Select US USD 05. Sep 1991
NasdaqGS BOKF.L SUB NTS Nasdaq Global Select US USD 24. Jun 2016
Number of employees
Current staff
Staff numbers
5,291
BOK Financial employees.
Industry
Regional Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/16 01:18
End of day share price update: 2019/05/15 00:00
Last estimates confirmation: 2019/05/14
Last earnings filing: 2019/05/01
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.