BancFirst (BANF) Raised to Buy at Zacks Investment Research

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Zacks Investment Research upgraded shares of BancFirst (NASDAQ:BANF) from a hold rating to a buy rating in a research report released on Tuesday. Zacks Investment Research currently has $58.00 target price on the bank’s stock.

According to Zacks, “BancFirst Corporation is a bank holding company for BancFirst. BancFirst Corporation also owns 100% of the common securities of BFC Capital Trust I, and First State Bank. BancFirst’s strategy focuses on providing a full range of commercial banking services to retail customers and small to medium-sized businesses both in the non-metropolitan trade centers and the metropolitan markets. BancFirst operates as a super community bank, managing their community banking offices on a decentralized basis, which permits them to be responsive to local customer needs. “

Several other equities analysts also recently weighed in on BANF. BidaskClub downgraded BancFirst from a hold rating to a sell rating in a research report on Thursday, August 30th. ValuEngine downgraded BancFirst from a hold rating to a sell rating in a research report on Monday, September 17th.

NASDAQ BANF opened at $51.68 on Tuesday. BancFirst has a 1-year low of $50.80 and a 1-year high of $65.70. The company has a market capitalization of $1.70 billion, a P/E ratio of 19.00, a PEG ratio of 1.97 and a beta of 0.69. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.04.

BancFirst (NASDAQ:BANF) last released its quarterly earnings data on Friday, October 19th. The bank reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.06. BancFirst had a return on equity of 13.90% and a net margin of 27.17%. The firm had revenue of $98.47 million during the quarter, compared to the consensus estimate of $96.77 million. On average, equities research analysts expect that BancFirst will post 3.76 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 31st will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.32%. The ex-dividend date is Friday, December 28th. BancFirst’s payout ratio is 44.12%.

A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its holdings in shares of 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 purchasing an additional 96,269 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of 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 purchasing an additional 70,732 shares during the last quarter. Vanguard Group Inc boosted its holdings in shares of BancFirst by 1.8% during the third quarter. Vanguard Group Inc now owns 1,816,854 shares of the bank’s stock worth $108,921,000 after purchasing an additional 31,758 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of BancFirst by 1.8% during the third quarter. Vanguard Group Inc. now owns 1,816,854 shares of the bank’s stock worth $108,921,000 after purchasing an additional 31,758 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of BancFirst by 2.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,169,077 shares of the bank’s stock worth $69,210,000 after purchasing an additional 29,538 shares during the last quarter. 33.87% of the stock is owned by institutional investors.

About BancFirst

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.

Further Reading: Institutional Investors

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