Q3 2024 EPS Estimates for BancFirst Co. Increased by DA Davidson (NASDAQ:BANF)

BancFirst Co. (NASDAQ:BANF) – Equities researchers at DA Davidson increased their Q3 2024 earnings estimates for shares of BancFirst in a research report issued on Thursday, October 3rd. DA Davidson analyst G. Tenner now forecasts that the bank will post earnings of $1.57 per share for the quarter, up from their previous estimate of $1.53. The consensus estimate for BancFirst’s current full-year earnings is $6.07 per share. DA Davidson also issued estimates for BancFirst’s FY2024 earnings at $6.08 EPS.

Several other brokerages have also recently weighed in on BANF. StockNews.com cut shares of BancFirst from a “hold” rating to a “sell” rating in a research note on Wednesday, September 4th. Piper Sandler upped their target price on shares of BancFirst from $84.50 to $95.00 and gave the stock an “underweight” rating in a research report on Monday, July 22nd.

BancFirst Price Performance

Shares of BancFirst stock opened at $103.06 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $3.40 billion, a price-to-earnings ratio of 16.68 and a beta of 1.03. BancFirst has a 1-year low of $79.99 and a 1-year high of $111.00. The firm’s 50-day moving average price is $103.87 and its two-hundred day moving average price is $93.77.

BancFirst (NASDAQ:BANF) last posted its quarterly earnings data on Thursday, July 18th. The bank reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.09. The company had revenue of $153.84 million for the quarter, compared to the consensus estimate of $149.75 million. BancFirst had a net margin of 23.46% and a return on equity of 13.89%.

BancFirst Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a $0.46 dividend. This is a positive change from BancFirst’s previous quarterly dividend of $0.43. This represents a $1.84 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend is Monday, September 30th. BancFirst’s dividend payout ratio is currently 30.07%.

Insider Activity at BancFirst

In other BancFirst news, Director William Scott Martin sold 5,000 shares of the stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $107.50, for a total value of $537,500.00. Following the sale, the director now directly owns 326,904 shares in the company, valued at approximately $35,142,180. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director William Scott Martin sold 5,000 shares of the stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $107.50, for a total transaction of $537,500.00. Following the completion of the sale, the director now owns 326,904 shares of the company’s stock, valued at $35,142,180. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dave R. Lopez sold 1,000 shares of the stock in a transaction on Friday, August 16th. The stock was 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 worth $7,150,517 over the last ninety days. Company insiders own 33.89% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BANF. BancFirst Trust & Investment Management lifted its stake in BancFirst by 50.8% in the third quarter. BancFirst Trust & Investment Management now owns 1,702,082 shares of the bank’s stock valued at $177,936,000 after acquiring an additional 573,224 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in BancFirst by 1.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,002,160 shares of the bank’s stock valued at $87,888,000 after acquiring an additional 16,664 shares during the last quarter. Millennium Management LLC lifted its stake in BancFirst by 499.6% in the second quarter. Millennium Management LLC now owns 57,614 shares of the bank’s stock valued at $5,053,000 after acquiring an additional 48,006 shares during the last quarter. Edgestream Partners L.P. acquired a new stake in BancFirst in the first quarter valued at $4,274,000. Finally, Public Sector Pension Investment Board lifted its stake in shares of BancFirst by 7.4% during the 2nd quarter. Public Sector Pension Investment Board now owns 31,907 shares of the bank’s stock worth $2,798,000 after buying an additional 2,196 shares during the last quarter. Institutional investors own 51.72% of the company’s stock.

BancFirst Company Profile

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.