BancFirst (NASDAQ:BANF) Announces Quarterly Earnings Results

Key Points

• Q1 earnings beat: BancFirst reported EPS of $1.85 vs. $1.77 expected and revenue of $179.0M (vs. $177.19M), up from $1.66 EPS a year ago.
• Dividend maintained: The bank paid a $0.49 quarterly dividend (annualized $1.96) for a 1.8% yield and a payout ratio of 27.53%.
• Market and analyst view: Shares opened at $111.67 (down ~1.1%), market cap $3.75B and P/E 15.7, with a consensus "Hold" rating and average price target of $124.00.

BancFirst (NASDAQ:BANF - Get Free Report) announced its quarterly earnings data on Thursday. The bank reported $1.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.77 by $0.08, Zacks reports. BancFirst had a net margin of 25.05% and a return on equity of 13.68%. The company had revenue of $179.00 million during the quarter, compared to analysts' expectations of $177.19 million. During the same quarter in the prior year, the company posted $1.66 EPS.

BancFirst Trading Down 1.1%

BANF stock opened at $111.67 on Friday. The company has a market cap of $3.75 billion, a P/E ratio of 15.68 and a beta of 0.61. BancFirst has a twelve month low of $101.48 and a twelve month high of $138.77. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.05. The business has a fifty day moving average of $111.47 and a 200-day moving average of $112.33.

BancFirst Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were paid a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Tuesday, March 31st. BancFirst's dividend payout ratio (DPR) is 27.53%.

Institutional Trading of BancFirst

Institutional investors and hedge funds have recently made changes to their positions in the business. Corient Private Wealth LLC increased its holdings in BancFirst by 56.4% in the fourth quarter. Corient Private Wealth LLC now owns 3,623 shares of the bank's stock valued at $384,000 after purchasing an additional 1,306 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its stake in BancFirst by 8.5% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 17,594 shares of the bank's stock worth $1,865,000 after buying an additional 1,382 shares during the period. Voloridge Investment Management LLC raised its stake in BancFirst by 35.4% during the 4th quarter. Voloridge Investment Management LLC now owns 32,290 shares of the bank's stock worth $3,423,000 after buying an additional 8,441 shares during the period. Tudor Investment Corp ET AL lifted its holdings in BancFirst by 933.0% during the fourth quarter. Tudor Investment Corp ET AL now owns 31,105 shares of the bank's stock worth $3,298,000 after acquiring an additional 28,094 shares in the last quarter. Finally, Twinbeech Capital LP acquired a new position in BancFirst in the fourth quarter valued at about $211,000. Institutional investors own 51.72% of the company's stock.

Wall Street Analyst Weigh In

BANF has been the subject of a number of analyst reports. DA Davidson restated a "neutral" rating and set a $125.00 price target on shares of BancFirst in a research note on Monday, March 9th. Keefe, Bruyette & Woods raised their target price on BancFirst from $120.00 to $123.00 and gave the stock a "market perform" rating in a research report on Friday, January 23rd. Finally, Weiss Ratings lowered BancFirst from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, March 27th. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, BancFirst presently has a consensus rating of "Hold" and an average 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.