DA Davidson Has Optimistic View of BancFirst FY2024 Earnings

BancFirst Co. (NASDAQ:BANF) – Investment analysts at DA Davidson lifted their FY2024 earnings per share (EPS) estimates for shares of BancFirst in a report issued on Tuesday, October 22nd. DA Davidson analyst G. Tenner now expects that the bank will earn $6.35 per share for the year, up from their prior forecast of $6.08. DA Davidson currently has a “Neutral” rating and a $110.00 target price on the stock. The consensus estimate for BancFirst’s current full-year earnings is $6.09 per share. DA Davidson also issued estimates for BancFirst’s Q4 2024 earnings at $1.59 EPS.

A number of other analysts have also recently issued reports on BANF. Piper Sandler lifted their price objective on BancFirst from $84.50 to $95.00 and gave the company an “underweight” rating in a research report on Monday, July 22nd. StockNews.com downgraded BancFirst from a “hold” rating to a “sell” rating in a research note on Wednesday, September 4th.

BancFirst Trading Up 0.1 %

Shares of NASDAQ:BANF opened at $110.10 on Wednesday. The firm has a fifty day moving average of $105.33 and a two-hundred day moving average of $95.87. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.06. BancFirst has a 12-month low of $79.99 and a 12-month high of $115.62. The firm has a market capitalization of $3.63 billion, a P/E ratio of 17.99 and a beta of 1.03.

BancFirst Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 1.67%. This is an increase from BancFirst’s previous quarterly dividend of $0.43. The ex-dividend date was Monday, September 30th. BancFirst’s dividend payout ratio is presently 30.07%.

Insider Buying and Selling at BancFirst

In related news, Director Leslie Jeannine Rainbolt sold 2,152 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $110.47, for a total value of $237,731.44. Following the transaction, the director now directly owns 4,942,550 shares of the company’s stock, valued at approximately $546,003,498.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Dave R. Lopez sold 1,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $102.13, for a total value of $102,130.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Leslie Jeannine Rainbolt sold 2,152 shares of the business’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $110.47, for a total value of $237,731.44. Following the transaction, the director now directly owns 4,942,550 shares of the company’s stock, valued at $546,003,498.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,095 shares of company stock worth $7,021,614 over the last three months. Corporate insiders own 33.89% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Whittier Trust Co. of Nevada Inc. acquired a new stake in BancFirst during the third quarter worth about $38,000. Blue Trust Inc. grew its holdings in shares of BancFirst by 33.9% during the 3rd quarter. Blue Trust Inc. now owns 391 shares of the bank’s stock worth $41,000 after purchasing an additional 99 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in shares of BancFirst by 557.1% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 506 shares of the bank’s stock worth $45,000 after purchasing an additional 429 shares in the last quarter. EntryPoint Capital LLC raised its stake in shares of BancFirst by 56.8% in the first quarter. EntryPoint Capital LLC now owns 842 shares of the bank’s stock valued at $74,000 after purchasing an additional 305 shares in the last quarter. Finally, Point72 DIFC Ltd acquired a new position in shares of BancFirst in the second quarter valued at $77,000. 51.72% of the stock is currently owned by institutional investors and hedge funds.

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.