BancFirst Corporation (NASDAQ:BANF) Declares Quarterly Dividend of $0.49

Key Points

• BancFirst declared a quarterly dividend of $0.49 per share, payable April 15 to holders of record March 31, implying an annualized dividend of $1.96 and a yield of about 1.8%.
• The bank has increased its dividend for 31 consecutive years and carries a payout ratio around 29.2%, with analysts projecting earnings that keep the forward payout near 32%, suggesting the dividend is well-covered.
• Shares recently traded near $106.72 (market cap ~$3.58B, P/E ~14.99); the latest quarter showed a slight EPS miss ($1.75 vs. $1.78) but revenue beat, and analysts maintain a consensus "Hold" rating with an average target of about $124.

BancFirst Corporation (NASDAQ:BANF - Get Free Report) declared a quarterly dividend on Friday, February 27th, NASDAQ Dividends reports. Investors of record on Tuesday, March 31st will be given a dividend of 0.49 per share by the bank on Wednesday, April 15th. This represents a c) annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Tuesday, March 31st.

BancFirst has increased its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 31 consecutive years. BancFirst has a payout ratio of 29.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect BancFirst to earn $6.10 per share next year, which means the company should continue to be able to cover its $1.96 annual dividend with an expected future payout ratio of 32.1%.

BancFirst Stock Performance

Shares of NASDAQ:BANF opened at $106.72 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.05. BancFirst has a 1-year low of $97.02 and a 1-year high of $138.77. The stock has a market capitalization of $3.58 billion, a P/E ratio of 14.99 and a beta of 0.65. The business has a 50-day moving average price of $111.66 and a two-hundred day moving average price of $114.19.

BancFirst (NASDAQ:BANF - Get Free Report) last issued its earnings results on Thursday, January 22nd. The bank reported $1.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.78 by ($0.03). The business had revenue of $181.00 million during the quarter, compared to the consensus estimate of $173.76 million. BancFirst had a net margin of 25.05% and a return on equity of 13.68%. Equities analysts predict that BancFirst will post 6.52 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on BANF shares. Weiss Ratings lowered shares of BancFirst from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday. Keefe, Bruyette & Woods boosted their target price on BancFirst from $120.00 to $123.00 and gave the company a "market perform" rating in a research note on Friday, January 23rd. Finally, DA Davidson reaffirmed a "neutral" rating and issued a $125.00 price target on shares of BancFirst in a research note on Monday, March 9th. Four analysts have rated the stock with a Hold rating, According to data from MarketBeat, BancFirst has a consensus rating of "Hold" and an average target price 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.

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