BancFirst Co. (NASDAQ:BANF) to Issue Quarterly Dividend of $0.46

BancFirst Co. (NASDAQ:BANF) declared a quarterly dividend on Thursday, August 22nd, Zacks reports. Stockholders of record on Monday, September 30th will be given a dividend of 0.46 per share by the bank on Tuesday, October 15th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date is Monday, September 30th. This is a positive change from BancFirst’s previous quarterly dividend of $0.43.

BancFirst has increased its dividend by an average of 7.9% annually over the last three years and has raised its dividend annually for the last 31 consecutive years. BancFirst has a dividend payout ratio of 30.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect BancFirst to earn $5.83 per share next year, which means the company should continue to be able to cover its $1.84 annual dividend with an expected future payout ratio of 31.6%.

BancFirst Trading Up 0.4 %

Shares of BANF traded up $0.38 during mid-day trading on Friday, reaching $104.54. The company’s stock had a trading volume of 69,333 shares, compared to its average volume of 83,396. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.06. BancFirst has a 52 week low of $79.99 and a 52 week high of $111.00. The company’s fifty day moving average price is $104.23 and its two-hundred day moving average price is $93.34. The stock has a market cap of $3.45 billion, a PE ratio of 17.08 and a beta of 1.03.

BancFirst (NASDAQ:BANF) last posted its quarterly earnings results on Thursday, July 18th. The bank reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.09. BancFirst had a net margin of 23.46% and a return on equity of 13.89%. The business had revenue of $153.84 million during the quarter, compared to analyst estimates of $149.75 million. On average, analysts predict that BancFirst will post 6.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In other BancFirst news, major shareholder Main Street Banking Partners L sold 22,114 shares of BancFirst stock in a transaction on Monday, September 9th. The stock was sold at an average price of $105.46, for a total transaction of $2,332,142.44. Following the completion of the transaction, the insider now owns 4,958,095 shares in the company, valued at $522,880,698.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other BancFirst news, major shareholder Main Street Banking Partners L sold 22,114 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $105.46, for a total transaction of $2,332,142.44. Following the completion of the sale, the insider now directly owns 4,958,095 shares in the company, valued at approximately $522,880,698.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Dave R. Lopez sold 1,000 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $102.13, for a total transaction of $102,130.00. The disclosure for this sale can be found here. Insiders have sold 67,564 shares of company stock valued at $7,150,517 over the last quarter. Corporate insiders own 33.89% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on BANF shares. StockNews.com downgraded shares of BancFirst from a “hold” rating to a “sell” rating in a research report on Wednesday, September 4th. Piper Sandler lifted their price objective on BancFirst from $84.50 to $95.00 and gave the company an “underweight” rating in a research report on Monday, July 22nd.

About BancFirst

BancFirst Corporation operates as the bank holding company for BancFirst that provides a range of commercial banking services to retail customers, and small to medium-sized businesses. The company operates through BancFirst Metropolitan Banks, BancFirst Community Banks, Pegasus, Worthington, and Other Financial Services segments.