Brokerages expect BancFirst Co. (NASDAQ:BANF) to announce sales of $96.77 million for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for BancFirst’s earnings, with the lowest sales estimate coming in at $96.20 million and the highest estimate coming in at $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 firm is scheduled to announce 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 anticipate that the business will post sales of $402.20 million per share, 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 sell-side research firms that follow BancFirst.
BancFirst (NASDAQ:BANF) last released its earnings results on Friday, July 20th. The bank reported $0.91 EPS for the quarter, topping the consensus estimate of $0.85 by $0.06. BancFirst had a return on equity of 13.04% and a net margin of 25.59%. The business had revenue of $95.32 million during the quarter, compared to analysts’ expectations of $94.26 million.
BANF has been the topic of several recent research reports. Zacks Investment Research upgraded BancFirst from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a report on Monday, July 23rd. BidaskClub lowered BancFirst from a “hold” rating to a “sell” rating in a report on Thursday, August 30th.
NASDAQ BANF traded up $0.15 during trading hours on Friday, hitting $63.90. 1,114 shares of the company’s stock were exchanged, compared to its average volume of 25,841. BancFirst has a 1-year low of $48.35 and a 1-year high of $65.70. The stock has a market capitalization of $2.09 billion, a P/E ratio of 23.60, a P/E/G ratio of 1.74 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 declared 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 represents a $1.20 annualized dividend and a yield of 1.88%. This is a positive change from BancFirst’s previous quarterly dividend of $0.21. BancFirst’s dividend payout ratio is presently 30.88%.
In other news, insider Mark Gish sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 25th. The stock was sold at an average price of $63.86, for a total value of $95,790.00. Following the transaction, the insider now owns 1,000 shares in the company, valued at $63,860. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kevin Lawrence sold 5,000 shares of the firm’s stock in a transaction that occurred on 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 owns 5,000 shares in the company, valued at approximately $320,000. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,750 shares of company stock worth $495,790. Corporate insiders own 40.14% of the company’s stock.
Several hedge funds have recently bought and sold shares of BANF. Millennium Management LLC bought a new position in shares of BancFirst in the first quarter valued at approximately $9,751,000. BlackRock Inc. lifted its holdings in BancFirst by 8.5% during the second quarter. BlackRock Inc. now owns 1,222,926 shares of the bank’s stock worth $72,398,000 after acquiring an additional 96,269 shares during the period. Janus Henderson Group PLC lifted its holdings in BancFirst by 12.2% during the second quarter. Janus Henderson Group PLC now owns 652,437 shares of the bank’s stock worth $38,624,000 after acquiring an additional 70,732 shares during the period. Maltese Capital Management LLC lifted its holdings in BancFirst by 700.0% during the first quarter. Maltese Capital Management LLC now owns 80,000 shares of the bank’s stock worth $4,248,000 after acquiring an additional 70,000 shares during the period. Finally, Cornerstone Wealth Management LLC bought a new stake in BancFirst during the second quarter worth $978,000. Institutional investors own 33.38% of the company’s stock.
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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