BancFirst Co. (BANF) Expected to Announce Quarterly Sales of $96.77 Million

Brokerages expect BancFirst Co. (NASDAQ:BANF) to post sales of $96.77 million for the current quarter, according to Zacks. Three analysts have issued estimates for BancFirst’s earnings. The lowest sales estimate is $96.20 million and the highest is $97.30 million. BancFirst posted sales of $86.40 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 12%. The company is scheduled to issue its next earnings report on Thursday, October 18th.

According to Zacks, analysts expect that BancFirst will report full-year sales of $382.23 million for the current financial year, with estimates ranging from $380.80 million to $383.40 million. For the next fiscal year, analysts expect that the firm will post sales of $402.20 million, with estimates ranging from $398.30 million to $407.20 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover BancFirst.

BancFirst (NASDAQ:BANF) last released its quarterly earnings data on Friday, July 20th. The bank reported $0.91 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.06. BancFirst had a net margin of 25.59% and a return on equity of 13.04%. The company had revenue of $95.32 million during the quarter, compared to analyst estimates of $94.26 million.

A number of equities analysts have commented on BANF shares. BidaskClub upgraded shares of BancFirst from a “sell” rating to a “hold” rating in a report on Saturday. Zacks Investment Research downgraded shares of BancFirst from a “buy” rating to a “hold” rating in a report on Wednesday, September 19th. Finally, ValuEngine downgraded shares of BancFirst from a “hold” rating to a “sell” rating in a report on Monday, September 17th.

In other BancFirst news, insider Kevin Lawrence sold 5,000 shares of the business’s stock in a transaction dated Monday, July 23rd. The shares were sold at an average price of $64.00, for a total value of $320,000.00. Following the completion of the transaction, the insider now directly owns 5,000 shares in the company, valued at $320,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David Seat sold 528 shares of the company’s stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $61.25, for a total transaction of $32,340.00. Following the transaction, the insider now owns 8,028 shares in the company, valued at approximately $491,715. The disclosure for this sale can be found here. Insiders sold 8,632 shares of company stock valued at $550,609 over the last quarter. 40.14% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Legal & General Group Plc increased its holdings in shares of BancFirst by 14.7% during the first quarter. Legal & General Group Plc now owns 7,010 shares of the bank’s stock valued at $372,000 after acquiring an additional 900 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of BancFirst by 15.9% during the second quarter. Victory Capital Management Inc. now owns 6,840 shares of the bank’s stock valued at $405,000 after acquiring an additional 937 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of BancFirst by 5.4% during the second quarter. Rhumbline Advisers now owns 20,608 shares of the bank’s stock valued at $1,220,000 after acquiring an additional 1,065 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of BancFirst by 4.3% during the first quarter. Wells Fargo & Company MN now owns 29,535 shares of the bank’s stock valued at $1,568,000 after acquiring an additional 1,213 shares in the last quarter. Finally, John W. Rosenthal Capital Management Inc. increased its holdings in shares of BancFirst by 1.2% during the second quarter. John W. Rosenthal Capital Management Inc. now owns 109,000 shares of the bank’s stock valued at $6,453,000 after acquiring an additional 1,250 shares in the last quarter. Hedge funds and other institutional investors own 33.38% of the company’s stock.

NASDAQ:BANF traded down $1.83 during mid-day trading on Friday, reaching $57.53. The company’s stock had a trading volume of 51,920 shares, compared to its average volume of 43,107. BancFirst has a 1 year low of $50.80 and a 1 year high of $65.70. The firm has a market cap of $1.96 billion, a PE ratio of 21.15, a price-to-earnings-growth ratio of 1.63 and a beta of 0.67. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.03 and a quick ratio of 1.03.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Friday, September 28th will be issued a $0.30 dividend. The ex-dividend date is Thursday, September 27th. This is an increase from BancFirst’s previous quarterly dividend of $0.21. This represents a $1.20 dividend on an annualized basis and a yield of 2.09%. BancFirst’s payout ratio is currently 44.12%.

BancFirst Company Profile

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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