BancFirst Co. Expected to Post FY2024 Earnings of $5.84 Per Share (NASDAQ:BANF)

BancFirst Co. (NASDAQ:BANF) – Equities researchers at DA Davidson lifted their FY2024 earnings estimates for BancFirst in a report released on Monday, April 22nd. DA Davidson analyst G. Tenner now expects that the bank will post earnings per share of $5.84 for the year, up from their previous forecast of $5.44. DA Davidson has a “Neutral” rating and a $92.00 price objective on the stock. The consensus estimate for BancFirst’s current full-year earnings is $5.66 per share.

BancFirst Stock Performance

Shares of BANF opened at $91.57 on Wednesday. BancFirst has a 12 month low of $68.44 and a 12 month high of $104.00. The stock has a fifty day moving average price of $86.65 and a 200-day moving average price of $88.18. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.06. The firm has a market cap of $3.02 billion, a PE ratio of 14.96 and a beta of 1.09.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BANF. Global Retirement Partners LLC acquired a new stake in shares of BancFirst during the first quarter worth about $35,000. Wesbanco Bank Inc. acquired a new stake in BancFirst during the 1st quarter valued at approximately $318,000. Diversified Trust Co lifted its stake in BancFirst by 25.2% during the 1st quarter. Diversified Trust Co now owns 4,844 shares of the bank’s stock valued at $426,000 after acquiring an additional 975 shares during the period. BancFirst Trust & Investment Management boosted its holdings in shares of BancFirst by 4.2% in the 1st quarter. BancFirst Trust & Investment Management now owns 1,127,415 shares of the bank’s stock valued at $99,246,000 after acquiring an additional 45,629 shares during the last quarter. Finally, Rafferty Asset Management LLC lifted its position in BancFirst by 69.4% during the fourth quarter. Rafferty Asset Management LLC now owns 17,978 shares of the bank’s stock valued at $1,750,000 after purchasing an additional 7,364 shares during the period. 51.72% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Dennis Jay Hannah sold 4,000 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $88.66, for a total transaction of $354,640.00. Following the transaction, the executive vice president now owns 24,714 shares in the company, valued at $2,191,143.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Kevin Lawrence sold 1,529 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $88.00, for a total transaction of $134,552.00. Following the sale, the executive vice president now directly owns 10,000 shares of the company’s stock, valued at $880,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Dennis Jay Hannah sold 4,000 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $88.66, for a total value of $354,640.00. Following the completion of the transaction, the executive vice president now owns 24,714 shares of the company’s stock, valued at approximately $2,191,143.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,300 shares of company stock valued at $1,706,128. 33.89% of the stock is currently owned by corporate insiders.

BancFirst Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 1.88%. The ex-dividend date was Wednesday, March 27th. BancFirst’s dividend payout ratio is presently 28.10%.

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.