BancFirst Co. to Post Q3 2024 Earnings of $1.57 Per Share, DA Davidson Forecasts (NASDAQ:BANF)

BancFirst Co. (NASDAQ:BANF) – DA Davidson boosted their Q3 2024 earnings per share (EPS) estimates for BancFirst in a report released on Thursday, October 3rd. DA Davidson analyst G. Tenner now anticipates that the bank will earn $1.57 per share for the quarter, up from their previous forecast 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.

BancFirst (NASDAQ:BANF) last released its quarterly earnings results on Thursday, July 18th. The bank reported $1.51 earnings per share 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 company had revenue of $153.84 million during the quarter, compared to analysts’ expectations of $149.75 million.

BANF has been the subject of several other reports. Piper Sandler raised their price target on shares of BancFirst from $84.50 to $95.00 and gave the stock an “underweight” rating in a research note on Monday, July 22nd. StockNews.com downgraded BancFirst from a “hold” rating to a “sell” rating in a research report on Wednesday, September 4th.

BancFirst Stock Up 2.2 %

BANF stock opened at $103.06 on Friday. The business has a 50-day moving average of $103.72 and a 200-day moving average of $93.90. BancFirst has a fifty-two week low of $79.99 and a fifty-two week high of $111.00. The stock has a market capitalization of $3.40 billion, a P/E ratio of 16.84 and a beta of 1.03. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.97 and a quick ratio of 0.97.

Institutional Trading of BancFirst

Several hedge funds have recently added to or reduced their stakes in BANF. BancFirst Trust & Investment Management boosted its position in shares of 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 period. Edgestream Partners L.P. bought a new position in shares of BancFirst during the first quarter worth approximately $4,274,000. Millennium Management LLC boosted its stake in shares of 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 buying an additional 48,006 shares during the period. Dimensional Fund Advisors LP grew its position in BancFirst by 1.7% during the second quarter. Dimensional Fund Advisors LP now owns 1,002,160 shares of the bank’s stock worth $87,888,000 after buying an additional 16,664 shares in the last quarter. Finally, Los Angeles Capital Management LLC increased its stake in BancFirst by 255.9% during the 2nd quarter. Los Angeles Capital Management LLC now owns 15,750 shares of the bank’s stock worth $1,381,000 after acquiring an additional 11,324 shares during the period. 51.72% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at BancFirst

In other BancFirst news, major shareholder Main Street Banking Partners L sold 22,114 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 4,958,095 shares of the company’s stock, valued at $522,880,698.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other 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 owns 4,958,095 shares in the company, valued at approximately $522,880,698.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Dennis Jay Hannah sold 1,000 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $105.00, for a total transaction of $105,000.00. Following the completion of the transaction, the executive vice president now owns 6,714 shares in the company, valued at approximately $704,970. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 67,564 shares of company stock worth $7,150,517 in the last ninety days. Insiders own 33.89% of the company’s stock.

BancFirst Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a $0.46 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.84 dividend on an annualized basis and a yield of 1.79%. This is a boost from BancFirst’s previous quarterly dividend of $0.43. BancFirst’s dividend payout ratio (DPR) is currently 30.07%.

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.