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

BancFirst (NASDAQ:BANF) released its quarterly earnings data on Friday. The bank reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.80 by $0.16, Zacks reports. BancFirst had a return on equity of 13.64% and a net margin of 25.50%.The firm had revenue of $187.49 million during the quarter, compared to analyst estimates of $178.53 million.

BancFirst Stock Up 1.4%

NASDAQ:BANF opened at $116.58 on Friday. BancFirst has a 1-year low of $101.48 and a 1-year high of $138.77. The company has a 50-day moving average of $112.86 and a 200 day moving average of $112.09. The firm has a market cap of $3.92 billion, a PE ratio of 15.73 and a beta of 0.59. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.04 and a quick ratio of 1.04.

BancFirst Announces Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Tuesday, June 30th. BancFirst’s dividend payout ratio is currently 26.45%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Weiss Ratings cut BancFirst from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, July 16th. DA Davidson reaffirmed a “neutral” rating and set a $125.00 price objective on shares of BancFirst in a report on Friday, June 12th. Finally, Wall Street Zen upgraded shares of BancFirst from a “sell” rating to a “hold” rating in a research report on Saturday. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $124.00.

Insider Buying and Selling

In other news, Director David E. Rainbolt sold 24,614 shares of the business’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $115.55, for a total value of $2,844,147.70. Following the completion of the transaction, the director directly owned 182,004 shares of the company’s stock, valued at approximately $21,030,562.20. The trade was a 11.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 40,040 shares of company stock valued at $4,619,565 over the last ninety days. Insiders own 31.67% of the company’s stock.

Hedge Funds Weigh In On BancFirst

A number of large investors have recently added to or reduced their stakes in BANF. Jump Financial LLC purchased a new position in BancFirst in the 4th quarter worth $219,000. Parkside Financial Bank & Trust grew its holdings 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. increased its holdings in BancFirst by 9.5% in the 4th quarter. Advisors Asset Management Inc. now owns 1,245 shares of the bank’s stock worth $132,000 after acquiring an additional 108 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of BancFirst by 708.9% during the 4th 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 during the last quarter. Finally, State of Wyoming acquired a new position in shares of BancFirst during the second quarter valued at approximately $121,000. 51.72% of the stock is currently owned by institutional investors.

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.