BancFirst (NASDAQ:BANF) Posts Earnings Results, Beats Estimates By $0.03 EPS

by · The Markets Daily

BancFirst (NASDAQ:BANF – Get Free Report) released its quarterly earnings results on Wednesday. The bank reported $1.97 earnings per share for the quarter, topping analysts’ consensus estimates of $1.94 by $0.03, Zacks reports. BancFirst had a return on equity of 13.47% and a net margin of 25.61%. The company had revenue of $187.39 million during the quarter, compared to analysts’ expectations of $187.68 million.

BancFirst Price Performance

BancFirst stock opened at $112.36 on Friday. BancFirst has a 1 year low of $101.48 and a 1 year high of $122.21. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.02 and a current ratio of 1.03. The firm has a 50 day moving average price of $109.71 and a 200 day moving average price of $111.83. The company has a market cap of $3.78 billion, a price-to-earnings ratio of 15.16 and a beta of 0.65.

BancFirst Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were issued a $0.52 dividend. The ex-dividend date was Wednesday, September 30th. This is a positive change from BancFirst’s previous quarterly dividend of $0.49. This represents a $2.08 dividend on an annualized basis and a yield of 1.9%. BancFirst’s payout ratio is presently 28.07%.

Insiders Place Their Bets

In other BancFirst news, Director David Rainbolt sold 81,492 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $116.71, for a total transaction of $9,510,931.32. Following the transaction, the director owned 55,551 shares of the company’s stock, valued at $6,483,357.21. This trade represents a 59.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 166,783 shares of company stock worth $19,366,509 over the last quarter. Company insiders own 31.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on BANF shares. Wall Street Zen upgraded shares of BancFirst from a “sell” rating to a “hold” rating in a report on Saturday, July 25th. Zacks Research downgraded shares of BancFirst from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 25th. Keefe, Bruyette & Woods cut their price objective on shares of BancFirst from $123.00 to $121.00 and set a “market perform” rating for the company in a research report on Wednesday, August 5th. Finally, Weiss Ratings raised shares of BancFirst from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $123.00.

View Our Latest Stock Analysis on BANF

About BancFirst

(Get Free Report)

BancFirst Corporation is a bank holding company headquartered in Oklahoma City, Oklahoma. Through its principal subsidiary, BancFirst, the company provides a range of banking and financial services to individuals, businesses, agricultural customers and public-sector organizations.

BancFirst’s services include checking and savings accounts, consumer and commercial loans, real estate financing, treasury management, online and mobile banking, and other deposit and lending products. The company also offers trust and wealth-management services, including investment management, fiduciary services and retirement-related solutions.

BancFirst serves customers through a statewide network of banking locations and electronic banking channels, with a focus on communities throughout Oklahoma.

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