DA Davidson Has Strong Outlook for BancFirst FY2024 Earnings

BancFirst Co. (NASDAQ:BANF) – Research analysts at DA Davidson upped their FY2024 earnings per share (EPS) estimates for shares of BancFirst in a report released on Tuesday, October 22nd. DA Davidson analyst G. Tenner now expects that the bank will post earnings of $6.35 per share for the year, up from their previous estimate of $6.08. DA Davidson has a “Neutral” rating and a $110.00 price objective 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.

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

BancFirst Trading Down 0.9 %

Shares of BANF stock opened at $109.13 on Wednesday. The business’s fifty day moving average price is $105.69 and its 200 day moving average price is $96.06. The firm has a market capitalization of $3.60 billion, a PE ratio of 17.83 and a beta of 1.03. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.97 and a quick ratio of 0.97. BancFirst has a 1-year low of $79.99 and a 1-year high of $115.62.

BancFirst Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.46 dividend. This is a positive change from BancFirst’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.84 annualized dividend and a yield of 1.69%. BancFirst’s dividend payout ratio is 30.07%.

Insider Activity

In related news, Director Dave R. Lopez sold 1,000 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $102.13, for a total value of $102,130.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, major shareholder Main Street Banking Partners L sold 22,114 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $105.46, for a total transaction of $2,332,142.44. Following the sale, the insider now owns 4,958,095 shares of the company’s stock, valued at $522,880,698.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dave R. Lopez sold 1,000 shares of the business’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 disclosure for this sale can be found here. Insiders sold a total of 67,845 shares of company stock worth $7,214,307 over the last 90 days. 33.89% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BancFirst

Institutional investors and hedge funds have recently modified their holdings of the company. Diversified Trust Co raised its holdings in BancFirst by 25.2% in 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 last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in 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 buying an additional 429 shares during the period. SpiderRock Advisors LLC acquired a new position in shares of BancFirst during the 1st quarter valued at about $257,000. BNP Paribas Financial Markets lifted its holdings in shares of BancFirst by 85.7% during the 1st quarter. BNP Paribas Financial Markets now owns 10,980 shares of the bank’s stock worth $967,000 after acquiring an additional 5,066 shares during the period. Finally, Texas Permanent School Fund Corp boosted its position in shares of BancFirst by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 12,682 shares of the bank’s stock worth $1,116,000 after acquiring an additional 168 shares during the last quarter. Hedge funds and other institutional investors own 51.72% of the company’s stock.

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.