Zacks: Brokerages Expect BancFirst Co. (BANF) to Announce $0.85 EPS

Analysts forecast that BancFirst Co. (NASDAQ:BANF) will announce $0.85 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Three analysts have made estimates for BancFirst’s earnings. The lowest EPS estimate is $0.83 and the highest is $0.87. BancFirst posted earnings of $0.71 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 19.7%. The company is expected to issue its next earnings report on Thursday, July 19th.

On average, analysts expect that BancFirst will report full-year earnings of $3.57 per share for the current fiscal year, with EPS estimates ranging from $3.54 to $3.59. For the next fiscal year, analysts expect that the company will post earnings of $3.61 per share, with EPS estimates ranging from $3.51 to $3.68. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for BancFirst.

BancFirst (NASDAQ:BANF) last announced its quarterly earnings data on Thursday, April 19th. The bank reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.13. The firm had revenue of $93.15 million during the quarter, compared to the consensus estimate of $90.57 million. BancFirst had a return on equity of 12.56% and a net margin of 24.74%.

Several research analysts have weighed in on the company. BidaskClub lowered BancFirst from a “buy” rating to a “hold” rating in a research report on Saturday. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $60.00 target price on shares of BancFirst in a research report on Friday, April 20th. ValuEngine lowered BancFirst from a “hold” rating to a “sell” rating in a research report on Monday, April 2nd. Finally, Zacks Investment Research lowered BancFirst from a “buy” rating to a “hold” rating in a research report on Wednesday, June 20th.

BancFirst traded down $0.35, hitting $59.20, during mid-day trading on Friday, MarketBeat reports. The company’s stock had a trading volume of 40,015 shares, compared to its average volume of 51,016. The company has a market cap of $1.95 billion, a P/E ratio of 21.76, a P/E/G ratio of 1.68 and a beta of 0.70. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.04. BancFirst has a 52-week low of $48.05 and a 52-week high of $63.55.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 13th. Shareholders of record on Friday, June 29th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend is Thursday, June 28th. BancFirst’s payout ratio is currently 30.88%.

In other news, major shareholder Banking Ltd Ptnrshp R sold 37,470 shares of the stock in a transaction dated Friday, April 20th. The stock was sold at an average price of $56.34, for a total transaction of $2,111,059.80. Following the transaction, the insider now owns 10,715,000 shares of the company’s stock, valued at approximately $603,683,100. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Kevin Lawrence sold 5,000 shares of the stock in a transaction dated Monday, April 23rd. The shares were sold at an average price of $58.02, for a total value of $290,100.00. Following the transaction, the executive vice president now directly owns 5,000 shares in the company, valued at approximately $290,100. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,470 shares of company stock worth $2,879,850. Insiders own 42.32% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Schwab Charles Investment Management Inc. increased its holdings in shares of BancFirst by 3.4% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 128,995 shares of the bank’s stock valued at $6,599,000 after acquiring an additional 4,298 shares during the last quarter. California Public Employees Retirement System increased its holdings in shares of BancFirst by 43.0% during the 4th quarter. California Public Employees Retirement System now owns 16,716 shares of the bank’s stock valued at $855,000 after acquiring an additional 5,030 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of BancFirst by 32.1% during the 1st quarter. Victory Capital Management Inc. now owns 5,903 shares of the bank’s stock valued at $313,000 after acquiring an additional 1,434 shares during the last quarter. Comerica Bank increased its holdings in shares of BancFirst by 33.0% during the 4th quarter. Comerica Bank now owns 20,766 shares of the bank’s stock valued at $1,161,000 after acquiring an additional 5,157 shares during the last quarter. Finally, Guggenheim Capital LLC increased its holdings in shares of BancFirst by 57.8% during the 4th quarter. Guggenheim Capital LLC now owns 35,761 shares of the bank’s stock valued at $1,829,000 after acquiring an additional 13,100 shares during the last quarter. 32.60% 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. It operates through Metropolitan Banks, Community Banks, and Other Financial Services segments. The company offers checking accounts, negotiable order of withdrawal accounts, savings accounts, money market accounts, sweep accounts, club accounts, individual retirement accounts, and certificates of deposit, as well as overdraft protection and auto draft services.

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