BancFirst (NASDAQ:BANF) Posts Quarterly Earnings Results, Beats Expectations By $0.16 EPS

BancFirst (NASDAQ:BANF) announced its quarterly earnings data on Thursday. The bank reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.80 by $0.16, Zacks reports. The business had revenue of $187.49 million during the quarter, compared to the consensus estimate of $178.53 million. BancFirst had a return on equity of 13.62% and a net margin of 25.50%.

BancFirst Stock Down 0.4%

Shares of BANF opened at $114.92 on Friday. BancFirst has a fifty-two week low of $101.48 and a fifty-two week high of $138.77. The company’s fifty day moving average is $112.66 and its two-hundred day moving average is $112.06. The firm has a market cap of $3.86 billion, a PE ratio of 15.74 and a beta of 0.59. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.05.

BancFirst Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Tuesday, June 30th. BancFirst’s dividend payout ratio (DPR) is 26.85%.

Insider Activity at BancFirst

In related news, Director David E. Rainbolt sold 9,001 shares of the stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $115.11, for a total value of $1,036,105.11. Following the transaction, the director directly owned 166,783 shares of the company’s stock, valued at approximately $19,198,391.13. This trade represents a 5.12% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders sold 40,040 shares of company stock worth $4,619,565. Corporate insiders own 31.67% of the company’s stock.

Institutional Investors Weigh In On BancFirst

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jump Financial LLC purchased a new stake in BancFirst during the fourth quarter worth approximately $219,000. Parkside Financial Bank & Trust raised its position in BancFirst by 11.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,551 shares of the bank’s stock valued at $164,000 after purchasing an additional 165 shares during the period. Advisors Asset Management Inc. raised its position in BancFirst by 9.5% in the fourth quarter. Advisors Asset Management Inc. now owns 1,245 shares of the bank’s stock valued at $132,000 after purchasing an additional 108 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of BancFirst by 708.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,278 shares of the bank’s stock worth $135,000 after purchasing an additional 1,120 shares in the last quarter. Finally, State of Wyoming acquired a new position in shares of BancFirst during the second quarter worth about $121,000. 51.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BANF has been the topic of several recent analyst reports. Weiss Ratings downgraded BancFirst from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, July 16th. DA Davidson restated a “neutral” rating and issued a $125.00 price target on shares of BancFirst in a report on Friday, June 12th. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $124.00.

BancFirst Company Profile

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.