BancFirst Corporation (NASDAQ:BANF) Declares Quarterly Dividend of $0.52

Key Points

• BancFirst declared a quarterly dividend of $0.52 per share, a 6.1% increase from $0.49. Shareholders of record on September 30 will be paid on October 15, with an annualized dividend of approximately $2.08 and a 1.9% yield.
• The bank has increased its dividend for 31 consecutive years, while its 29.2% payout ratio indicates the dividend remains well covered by earnings.
• BancFirst’s latest quarterly results exceeded expectations, with EPS of $1.96 versus the $1.80 consensus and revenue of $187.49 million versus $178.53 million expected. Shares traded down 0.5% to $107.69.

BancFirst Corporation (NASDAQ:BANF - Get Free Report) declared a quarterly dividend on Monday, September 21st. Stockholders of record on Wednesday, September 30th will be paid a dividend of 0.52 per share by the bank on Thursday, October 15th. This represents a c) annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Wednesday, September 30th. This is a 6.1% increase from BancFirst's previous quarterly dividend of $0.49.

BancFirst has raised its dividend by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 31 years. BancFirst has a payout ratio of 29.2% meaning its dividend is sufficiently covered by earnings. Analysts expect BancFirst to earn $7.83 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 25.0%.

BancFirst Trading Down 0.5%

Shares of NASDAQ BANF traded down $0.55 during mid-day trading on Wednesday, hitting $107.69. The company's stock had a trading volume of 43,413 shares, compared to its average volume of 144,794. The stock has a market cap of $3.62 billion, a price-to-earnings ratio of 14.53 and a beta of 0.60. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.03 and a quick ratio of 1.02. BancFirst has a one year low of $101.48 and a one year high of $132.29. The company's fifty day simple moving average is $112.89 and its 200-day simple moving average is $111.80.

BancFirst (NASDAQ:BANF - Get Free Report) last issued its earnings results on Thursday, July 23rd. The bank reported $1.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.80 by $0.16. BancFirst had a return on equity of 13.44% and a net margin of 25.61%.The firm had revenue of $187.49 million for the quarter, compared to analysts' expectations of $178.53 million. On average, sell-side analysts anticipate that BancFirst will post 7.67 earnings per share for the current fiscal year.

BancFirst Company Profile

BancFirst Corporation is a bank holding company headquartered in Oklahoma City, Oklahoma. Its principal subsidiary, BancFirst, provides commercial and consumer banking services to individuals, businesses, agricultural customers and governmental entities.

The company offers deposit accounts, residential and commercial real estate loans, commercial and industrial lending, agricultural financing, consumer loans, treasury management and other traditional banking services. BancFirst also provides trust, investment and wealth management services, along with insurance-related products through affiliated operations.

Founded in 1989, BancFirst has expanded through organic growth and acquisitions and serves communities across Oklahoma through a statewide branch network.

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