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

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

According to Zacks, analysts expect that BancFirst will report full year sales of $382.23 million for the current year, with estimates ranging from $380.80 million to $383.40 million. For the next year, analysts anticipate that the business will report sales of $402.20 million per share, with estimates ranging from $398.30 million to $407.20 million. Zacks’ sales averages are a mean average based on a survey of analysts that cover BancFirst.

BancFirst (NASDAQ:BANF) last posted its quarterly earnings results on Friday, July 20th. The bank reported $0.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $95.32 million for the quarter, compared to analyst estimates of $94.26 million.

BANF has been the topic of several analyst reports. ValuEngine lowered shares of BancFirst from a “hold” rating to a “sell” rating in a research report on Monday, September 17th. Zacks Investment Research raised shares of BancFirst from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research report on Monday, July 23rd. Finally, BidaskClub lowered shares of BancFirst from a “buy” rating to a “hold” rating in a research report on Saturday, June 30th.

In other BancFirst news, insider Kevin Lawrence sold 5,000 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 5,000 shares in the company, valued at $320,000. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Mark Gish sold 1,500 shares of the company’s stock in a transaction on Wednesday, July 25th. The shares were sold at an average price of $63.86, for a total transaction of $95,790.00. Following the completion of the transaction, the insider now owns 1,000 shares in the company, valued at $63,860. The disclosure for this sale can be found here. Insiders have sold 8,632 shares of company stock worth $550,609 over the last ninety days. Insiders own 40.14% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the business. Northern Trust Corp increased its holdings in shares of BancFirst by 4.2% in the second quarter. Northern Trust Corp now owns 526,859 shares of the bank’s stock valued at $31,191,000 after purchasing an additional 21,306 shares during the last quarter. California Public Employees Retirement System increased its holdings in shares of BancFirst by 131.8% in the second quarter. California Public Employees Retirement System now owns 28,857 shares of the bank’s stock valued at $1,708,000 after purchasing an additional 16,407 shares during the last quarter. Millennium Management LLC increased its holdings in shares of BancFirst by 8.3% in the second quarter. Millennium Management LLC now owns 198,852 shares of the bank’s stock valued at $11,772,000 after purchasing an additional 15,208 shares during the last quarter. Zebra Capital Management LLC increased its holdings in shares of BancFirst by 17.0% in the second quarter. Zebra Capital Management LLC now owns 10,721 shares of the bank’s stock valued at $635,000 after purchasing an additional 1,555 shares during the last quarter. Finally, MetLife Investment Advisors LLC increased its holdings in shares of BancFirst by 17.5% in the second quarter. MetLife Investment Advisors LLC now owns 8,433 shares of the bank’s stock valued at $499,000 after purchasing an additional 1,255 shares during the last quarter. Hedge funds and other institutional investors own 33.38% of the company’s stock.

NASDAQ BANF traded down $0.95 on Wednesday, hitting $61.65. 44,400 shares of the stock were exchanged, compared to its average volume of 43,108. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.04. BancFirst has a 52 week low of $50.80 and a 52 week high of $65.70. The firm has a market capitalization of $2.05 billion, a P/E ratio of 22.57, a price-to-earnings-growth ratio of 1.71 and a beta of 0.67.

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 given a dividend of $0.30 per share. This is a positive change from BancFirst’s previous quarterly dividend of $0.21. This represents a $1.20 annualized dividend and a yield of 1.95%. The ex-dividend date is Thursday, September 27th. BancFirst’s dividend payout ratio is 30.88%.

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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