Zacks: Brokerages Anticipate BancFirst Corporation (BANF) Will Announce Quarterly Sales of $86.27 Million
Analysts expect BancFirst Corporation (NASDAQ:BANF) to report sales of $86.27 million for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for BancFirst Corporation’s earnings, with estimates ranging from $84.90 million to $88.70 million. BancFirst Corporation reported sales of $79.36 million in the same quarter last year, which indicates a positive year over year growth rate of 8.7%. The company is expected to report its next earnings report on Thursday, October 19th.
According to Zacks, analysts expect that BancFirst Corporation will report full-year sales of $86.27 million for the current year, with estimates ranging from $337.30 million to $345.40 million. For the next financial year, analysts expect that the firm will report sales of $371.83 million per share, with estimates ranging from $356.80 million to $387.30 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow BancFirst Corporation.
BancFirst Corporation (NASDAQ:BANF) last released its earnings results on Thursday, July 20th. The bank reported $0.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.13. The firm had revenue of $84.42 million during the quarter, compared to analysts’ expectations of $81.12 million. BancFirst Corporation had a return on equity of 11.35% and a net margin of 23.91%.
BANF has been the subject of several research analyst reports. ValuEngine raised shares of BancFirst Corporation from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 1st. BidaskClub raised shares of BancFirst Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th.
In other BancFirst Corporation news, Director William H. Crawford sold 1,960 shares of BancFirst Corporation stock in a transaction on Monday, August 14th. The shares were sold at an average price of $50.74, for a total value of $99,450.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dave R. Lopez sold 5,373 shares of BancFirst Corporation stock in a transaction on Friday, August 11th. The shares were sold at an average price of $50.26, for a total transaction of $270,046.98. Following the completion of the sale, the director now directly owns 4,366 shares of the company’s stock, valued at $219,435.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,699 shares of company stock valued at $749,476. Insiders own 44.97% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of BancFirst Corporation by 1.3% during the second quarter. Vanguard Group Inc. now owns 803,896 shares of the bank’s stock worth $77,657,000 after acquiring an additional 10,658 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of BancFirst Corporation by 2.2% during the second quarter. Dimensional Fund Advisors LP now owns 552,464 shares of the bank’s stock worth $53,369,000 after acquiring an additional 11,910 shares in the last quarter. Northern Trust Corp increased its position in shares of BancFirst Corporation by 1.8% during the second quarter. Northern Trust Corp now owns 255,910 shares of the bank’s stock worth $24,719,000 after acquiring an additional 4,482 shares in the last quarter. Janus Henderson Group PLC bought a new stake in shares of BancFirst Corporation during the second quarter worth about $22,854,000. Finally, State Street Corp increased its position in shares of BancFirst Corporation by 9.8% during the second quarter. State Street Corp now owns 158,757 shares of the bank’s stock worth $15,336,000 after acquiring an additional 14,134 shares in the last quarter. 16.69% of the stock is owned by hedge funds and other institutional investors.
BancFirst Corporation (BANF) opened at 51.45 on Friday. The firm’s 50-day moving average price is $50.77 and its 200-day moving average price is $48.45. BancFirst Corporation has a 12-month low of $34.06 and a 12-month high of $57.90. The company has a market cap of $1.64 billion, a PE ratio of 20.28 and a beta of 0.55.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be paid a $0.21 dividend. This is an increase from BancFirst Corporation’s previous quarterly dividend of $0.19. This represents a $0.84 annualized dividend and a yield of 1.63%. The ex-dividend date is Thursday, September 28th. BancFirst Corporation’s payout ratio is 29.98%.
About BancFirst Corporation
BancFirst Corporation is a financial holding company. The Company conducts its operating activities through its principal subsidiary, BancFirst (the Bank), a state-chartered bank. It has four business units, which include metropolitan banks, community banks, other financial services, and executive, operations and support.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for BancFirst Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BancFirst Corporation and related companies with MarketBeat.com's FREE daily email newsletter.