BancFirst (NASDAQ:BANF) Releases Quarterly Earnings Results, Beats Expectations By $0.10 EPS

Key Points

• BancFirst reported Q1 EPS of $1.85, beating estimates by $0.10, with a net margin of 25.05% and a return on equity of 13.68%.
• Shares fell about 1.3% to $111.49 on below-average volume; the stock has a market cap of $3.74 billion, a P/E of 15.66 and a 52-week range of $101.48–$138.77.
• The company paid a quarterly dividend of $0.49 (annualized $1.96, yield 1.8%, payout ratio 27.53%), while institutional investors own 51.72% and analysts have a consensus "Hold" rating with a $124 target.

BancFirst (NASDAQ:BANF - Get Free Report) issued its quarterly earnings data on Thursday. The bank reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.10, Zacks reports. BancFirst had a net margin of 25.05% and a return on equity of 13.68%.

BancFirst Stock Down 1.3%

NASDAQ BANF traded down $1.46 on Thursday, hitting $111.49. The stock had a trading volume of 61,892 shares, compared to its average volume of 133,841. The business's fifty day moving average price is $111.57 and its 200 day moving average price is $112.33. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.03 and a quick ratio of 1.03. BancFirst has a 52-week low of $101.48 and a 52-week high of $138.77. The stock has a market cap of $3.74 billion, a price-to-earnings ratio of 15.66 and a beta of 0.61.

BancFirst Announces Dividend

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

Hedge Funds Weigh In On BancFirst

Several institutional investors and hedge funds have recently bought and sold shares of the company. Advisors Asset Management Inc. grew its holdings in BancFirst by 9.5% in the fourth quarter. Advisors Asset Management Inc. now owns 1,245 shares of the bank's stock worth $132,000 after purchasing an additional 108 shares during the last quarter. 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 worth $164,000 after purchasing an additional 165 shares during the last quarter. Quarry LP grew its holdings in BancFirst by 531.4% in the third quarter. Quarry LP now owns 221 shares of the bank's stock worth $28,000 after purchasing an additional 186 shares during the last quarter. Alliancebernstein L.P. grew its holdings in BancFirst by 0.7% in the third quarter. Alliancebernstein L.P. now owns 26,071 shares of the bank's stock worth $3,297,000 after purchasing an additional 190 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its holdings in BancFirst by 0.9% in the second quarter. CANADA LIFE ASSURANCE Co now owns 23,427 shares of the bank's stock worth $2,897,000 after purchasing an additional 208 shares during the last quarter. 51.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BANF has been the topic of several research reports. Weiss Ratings lowered shares of BancFirst from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, March 27th. Keefe, Bruyette & Woods lifted their price objective on shares of BancFirst from $120.00 to $123.00 and gave the company a "market perform" rating in a report on Friday, January 23rd. Finally, DA Davidson reissued a "neutral" rating and set a $125.00 price objective on shares of BancFirst in a report on Monday, March 9th. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus 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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