BancFirst Co. (NASDAQ:BANF – Get Free Report) announced a quarterly dividend on Monday, November 20th, Wall Street Journal reports. Shareholders of record on Friday, December 29th will be paid a dividend of 0.43 per share by the bank on Tuesday, January 16th. This represents a $1.72 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date is Thursday, December 28th.
BancFirst has raised its dividend by an average of 7.0% annually over the last three years and has increased its dividend annually for the last 30 consecutive years. BancFirst has a dividend payout ratio of 31.4% meaning its dividend is sufficiently covered by earnings. Analysts expect BancFirst to earn $5.44 per share next year, which means the company should continue to be able to cover its $1.72 annual dividend with an expected future payout ratio of 31.6%.
BancFirst Stock Performance
Shares of BANF stock traded up $0.57 during mid-day trading on Monday, reaching $87.05. The stock had a trading volume of 44,589 shares, compared to its average volume of 92,703. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.06. BancFirst has a 1-year low of $68.44 and a 1-year high of $104.00. The firm has a market cap of $2.87 billion, a price-to-earnings ratio of 13.03 and a beta of 1.11. The business’s fifty day moving average is $84.94 and its 200-day moving average is $89.49.
Hedge Funds Weigh In On BancFirst
Hedge funds have recently made changes to their positions in the company. Norges Bank purchased a new stake in BancFirst during the 4th quarter valued at about $17,401,000. BlackRock Inc. grew its position in shares of BancFirst by 4.0% in the second quarter. BlackRock Inc. now owns 2,978,807 shares of the bank’s stock valued at $274,050,000 after purchasing an additional 115,715 shares in the last quarter. Invesco Ltd. increased its holdings in shares of BancFirst by 179.3% in the first quarter. Invesco Ltd. now owns 145,446 shares of the bank’s stock valued at $12,103,000 after purchasing an additional 93,365 shares during the last quarter. Citadel Advisors LLC lifted its position in BancFirst by 165.3% during the third quarter. Citadel Advisors LLC now owns 113,818 shares of the bank’s stock worth $10,183,000 after buying an additional 70,917 shares in the last quarter. Finally, State Street Corp boosted its stake in BancFirst by 7.4% during the first quarter. State Street Corp now owns 853,690 shares of the bank’s stock worth $71,343,000 after buying an additional 58,476 shares during the last quarter. Institutional investors and hedge funds own 44.97% of the company’s stock.
Analyst Ratings Changes
BANF has been the topic of several analyst reports. Piper Sandler dropped their price target on shares of BancFirst from $82.00 to $79.00 and set an “underweight” rating on the stock in a research report on Monday, October 23rd. StockNews.com began coverage on BancFirst in a research note on Thursday, October 5th. They issued a “sell” rating for the company. Finally, DA Davidson increased their target price on BancFirst from $84.00 to $91.00 and gave the company a “neutral” rating in a research report on Monday, July 24th.
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 Metropolitan Banks, Community Banks, Pegasus, Worthington, and Other Financial Services segments.
- Five stocks we like better than BancFirst
- How to Calculate Retirement Income: MarketBeat’s Calculator
- The most upgraded stocks in November have two things in common
- P/E Ratio Calculation: How to Assess Stocks
- Monday.com rocked earnings like it’s the weekend
- Investing In Automotive Stocks
- Plan to own one retailer? Make it this one
Receive News & Ratings for BancFirst Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BancFirst and related companies with MarketBeat.com's FREE daily email newsletter.