BancFirst (NASDAQ:BANF) Trading Down 5.8% on Disappointing Earnings

BancFirst Corporation (NASDAQ:BANF) traded down 5.8% during mid-day trading on Friday following a dissappointing earnings announcement. The company traded as low as $109.95 and last traded at $110.53. 100,310 shares changed hands during mid-day trading, a decline of 9% from the average session volume of 109,683 shares. The stock had previously closed at $117.36.

The bank reported $1.75 earnings per share for the quarter, missing analysts’ consensus estimates of $1.78 by ($0.03). The company had revenue of $181.00 million during the quarter, compared to analysts’ expectations of $173.76 million. BancFirst had a net margin of 25.13% and a return on equity of 13.97%.

BancFirst Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Wednesday, December 31st. BancFirst’s dividend payout ratio (DPR) is presently 27.80%.

Analysts Set New Price Targets

BANF has been the subject of several research analyst reports. Wall Street Zen cut BancFirst from a “hold” rating to a “sell” rating in a report on Saturday, October 25th. Weiss Ratings reiterated a “buy (b)” rating on shares of BancFirst in a report on Monday, December 22nd. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of BancFirst from $120.00 to $123.00 and gave the company a “market perform” rating in a research report on Friday. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, BancFirst has an average rating of “Hold” and an average target price of $129.50.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in BANF. Signaturefd LLC raised its stake in BancFirst by 5.2% during the fourth quarter. Signaturefd LLC now owns 1,873 shares of the bank’s stock valued at $199,000 after purchasing an additional 93 shares in the last quarter. Allworth Financial LP lifted its holdings in shares of BancFirst by 47.5% in the 3rd quarter. Allworth Financial LP now owns 295 shares of the bank’s stock valued at $37,000 after acquiring an additional 95 shares during the last quarter. KLP Kapitalforvaltning AS increased its stake in BancFirst by 2.2% during the second quarter. KLP Kapitalforvaltning AS now owns 4,600 shares of the bank’s stock worth $570,000 after acquiring an additional 100 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in BancFirst by 2.2% during the third quarter. Oregon Public Employees Retirement Fund now owns 4,652 shares of the bank’s stock valued at $588,000 after purchasing an additional 100 shares during the period. Finally, Triton Financial Group Inc raised its position in BancFirst by 0.7% during the third quarter. Triton Financial Group Inc now owns 14,592 shares of the bank’s stock valued at $1,845,000 after purchasing an additional 101 shares during the period. Institutional investors own 51.72% of the company’s stock.

BancFirst Price Performance

The firm has a market capitalization of $3.71 billion, a P/E ratio of 15.80 and a beta of 0.66. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.05. The firm has a 50 day moving average price of $110.56 and a 200-day moving average price of $119.77.

About BancFirst

BancFirst Corporation is a regional banking holding company based in Oklahoma City, Oklahoma. As the largest state‐chartered bank in Oklahoma, BancFirst offers a comprehensive suite of financial services to individuals, businesses and government entities. Its core business activities include commercial and consumer banking, mortgage lending, treasury management, equipment financing and electronic banking solutions.

The bank operates a network of more than 60 branches across Oklahoma, serving urban centers such as Oklahoma City and Tulsa, as well as rural communities throughout the state.