BancFirst (NASDAQ:BANF) Shares Down 5.8% on Disappointing Earnings

Shares of BancFirst Corporation (NASDAQ:BANF) fell 5.8% during mid-day trading on Friday following a weaker than expected earnings announcement. The company traded as low as $109.95 and last traded at $110.53. 100,310 shares changed hands during trading, a decline of 9% from the average session volume of 109,683 shares. The stock had previously closed at $117.36.

The bank reported $1.75 earnings per share for the quarter, missing the consensus estimate of $1.78 by ($0.03). BancFirst had a net margin of 25.13% and a return on equity of 13.93%. The company had revenue of $181.00 million for the quarter, compared to the consensus estimate of $173.76 million.

BancFirst Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 1.8%. The ex-dividend date was Wednesday, December 31st. BancFirst’s dividend payout ratio is presently 27.80%.

Analysts Set New Price Targets

A number of brokerages recently commented on BANF. Weiss Ratings reissued a “buy (b)” rating on shares of BancFirst in a research note on Monday, December 22nd. Keefe, Bruyette & Woods lifted their price target on BancFirst from $120.00 to $123.00 and gave the company a “market perform” rating in a report on Friday. Finally, Wall Street Zen cut BancFirst from a “hold” rating to a “sell” rating in a research note on Saturday, October 25th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $129.50.

Institutional Trading of BancFirst

Institutional investors have recently bought and sold shares of the stock. Nisa Investment Advisors LLC increased its stake in BancFirst by 548.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 201 shares of the bank’s stock valued at $25,000 after purchasing an additional 170 shares in the last quarter. Quarry LP grew its holdings in shares of BancFirst by 531.4% during the third quarter. Quarry LP now owns 221 shares of the bank’s stock valued at $28,000 after buying an additional 186 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new position in shares of BancFirst in the 3rd quarter valued at $35,000. Allworth Financial LP raised its stake in BancFirst by 47.5% in the 3rd quarter. Allworth Financial LP now owns 295 shares of the bank’s stock worth $37,000 after acquiring an additional 95 shares during the last quarter. Finally, Eagle Bay Advisors LLC acquired a new stake in BancFirst during the 4th quarter worth about $40,000. 51.72% of the stock is currently owned by institutional investors and hedge funds.

BancFirst Stock Performance

The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $3.62 billion, a PE ratio of 15.23 and a beta of 0.66. The firm has a 50 day moving average price of $110.51 and a 200-day moving average price of $119.62.

BancFirst Company Profile

BancFirst Corporation is a regional banking holding company based in Oklahoma City, Oklahoma. As the largest state‐chartered bank in Oklahoma, BancFirst offers a comprehensive suite of financial services to individuals, businesses and government entities. Its core business activities include commercial and consumer banking, mortgage lending, treasury management, equipment financing and electronic banking solutions.

The bank operates a network of more than 60 branches across Oklahoma, serving urban centers such as Oklahoma City and Tulsa, as well as rural communities throughout the state.