DA Davidson Analysts Boost Earnings Estimates for BancFirst Co. (NASDAQ:BANF)

BancFirst Co. (NASDAQ:BANF) – DA Davidson increased their FY2023 earnings estimates for shares of BancFirst in a report released on Thursday, October 26th. DA Davidson analyst G. Tenner now anticipates that the bank will post earnings of $6.38 per share for the year, up from their previous estimate of $6.34. DA Davidson has a “Neutral” rating and a $91.00 price objective on the stock. The consensus estimate for BancFirst’s current full-year earnings is $6.34 per share. DA Davidson also issued estimates for BancFirst’s FY2024 earnings at $6.02 EPS.

Several other research firms have also recently commented on BANF. StockNews.com initiated coverage on shares of BancFirst in a research note on Thursday, October 5th. They issued a “sell” rating for the company. Piper Sandler lowered their target price on shares of BancFirst from $82.00 to $79.00 and set an “underweight” rating for the company in a research note on Monday, October 23rd.

BancFirst Stock Down 1.3 %

BANF stock opened at $80.69 on Monday. The stock has a market capitalization of $2.66 billion, a P/E ratio of 12.26 and a beta of 1.08. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.94 and a current ratio of 0.94. BancFirst has a one year low of $68.44 and a one year high of $104.00. The company has a 50 day moving average price of $88.08 and a two-hundred day moving average price of $89.05.

Institutional Trading of BancFirst

Institutional investors have recently made changes to their positions in the stock. Credit Suisse AG grew its stake in shares of BancFirst by 3.7% during the 1st quarter. Credit Suisse AG now owns 29,211 shares of the bank’s stock valued at $2,427,000 after buying an additional 1,036 shares during the period. Champlain Investment Partners LLC acquired a new position in BancFirst in the 1st quarter worth $36,915,000. Tectonic Advisors LLC lifted its holdings in BancFirst by 13.7% in the 1st quarter. Tectonic Advisors LLC now owns 7,442 shares of the bank’s stock worth $618,000 after buying an additional 897 shares in the last quarter. Arizona State Retirement System lifted its holdings in BancFirst by 2.9% in the 1st quarter. Arizona State Retirement System now owns 5,238 shares of the bank’s stock worth $435,000 after buying an additional 150 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its holdings in BancFirst by 32.8% in the 2nd quarter. Teacher Retirement System of Texas now owns 8,274 shares of the bank’s stock worth $761,000 after buying an additional 2,045 shares in the last quarter. 44.97% of the stock is owned by hedge funds and other institutional investors.

BancFirst Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were paid a dividend of $0.43 per share. The ex-dividend date of this dividend was Thursday, September 28th. This is a boost from BancFirst’s previous quarterly dividend of $0.40. This represents a $1.72 annualized dividend and a dividend yield of 2.13%. BancFirst’s payout ratio is currently 26.14%.

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. The company operates through Metropolitan Banks, Community Banks, Pegasus, Worthington, and Other Financial Services segments.