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

BancFirst Co. (NASDAQ:BANF) announced 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 of this dividend is Monday, September 30th. This is a boost from BancFirst’s previous quarterly dividend of $0.43.

BancFirst has raised its dividend by an average of 7.9% annually over the last three years and has increased its dividend annually for the last 31 consecutive years. BancFirst has a payout ratio of 30.8% indicating that its dividend is sufficiently covered by earnings. 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 Stock Performance

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. BancFirst has a 1-year low of $79.99 and a 1-year high of $111.00. The business has a 50-day simple moving average of $104.23 and a two-hundred day simple moving average of $93.34. 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 cap of $3.45 billion, a P/E ratio of 17.08 and a beta of 1.03.

BancFirst (NASDAQ:BANF) last released its quarterly earnings data on Thursday, July 18th. The bank reported $1.51 EPS for the quarter, beating the consensus estimate of $1.42 by $0.09. The firm 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%. As a group, equities research analysts anticipate that BancFirst will post 6.07 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Transactions at BancFirst

In related news, Director Leslie Jeannine Rainbolt sold 10,371 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $105.02, for a total transaction of $1,089,162.42. Following the sale, the director now owns 4,944,702 shares in the company, valued at approximately $519,292,604.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other BancFirst news, Director David E. Rainbolt sold 1,391 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $105.01, for a total transaction of $146,068.91. Following the transaction, the director now directly owns 215,024 shares in the company, valued at approximately $22,579,670.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Leslie Jeannine Rainbolt sold 10,371 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $105.02, for a total value of $1,089,162.42. Following the completion of the sale, the director now owns 4,944,702 shares of the company’s stock, valued at $519,292,604.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,564 shares of company stock valued at $7,150,517. Corporate insiders own 33.89% 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.