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

BancFirst Co. (NASDAQ:BANF) – Research analysts at DA Davidson raised their Q3 2024 EPS estimates for BancFirst in a research note issued on Thursday, October 3rd. DA Davidson analyst G. Tenner now anticipates that the bank will post earnings per share of $1.57 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.

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

Several other equities research analysts also recently weighed in on the stock. StockNews.com lowered shares of BancFirst from a “hold” rating to a “sell” rating in a research report on Wednesday, September 4th. Piper Sandler increased their price objective on shares of BancFirst from $84.50 to $95.00 and gave the company an “underweight” rating in a report on Monday, July 22nd.

BancFirst Trading Up 0.4 %

NASDAQ:BANF opened at $100.85 on Friday. The stock has a market cap of $3.33 billion, a price-to-earnings ratio of 16.48 and a beta of 1.03. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.97 and a current ratio of 0.97. BancFirst has a 1 year low of $79.99 and a 1 year high of $111.00. The business has a fifty day moving average of $104.02 and a 200-day moving average of $93.72.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. lifted its position in shares of BancFirst by 557.1% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 506 shares of the bank’s stock valued at $45,000 after acquiring an additional 429 shares in the last quarter. EntryPoint Capital LLC grew its holdings in shares of BancFirst by 56.8% during the first quarter. EntryPoint Capital LLC now owns 842 shares of the bank’s stock valued at $74,000 after buying an additional 305 shares in the last quarter. Point72 DIFC Ltd acquired a new position in BancFirst during the second quarter valued at $77,000. Transcendent Capital Group LLC purchased a new stake in BancFirst in the 1st quarter worth about $105,000. Finally, Point72 Asset Management L.P. acquired a new stake in BancFirst during the 2nd quarter worth about $114,000. 51.72% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Dave R. Lopez sold 1,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $102.13, for a total transaction of $102,130.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David E. Rainbolt sold 1,391 shares of BancFirst stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $105.01, for a total value of $146,068.91. Following the completion of the transaction, the director now owns 215,024 shares in the company, valued at $22,579,670.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 67,564 shares of company stock worth $7,150,517. 33.89% of the stock is owned by corporate insiders.

BancFirst Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a dividend of $0.46 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.84 annualized dividend and a yield of 1.82%. This is a boost from BancFirst’s previous quarterly dividend of $0.43. BancFirst’s dividend payout ratio (DPR) is currently 30.07%.

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.