BancFirst Co. (NASDAQ:BANF) Declares Dividend Increase – $0.46 Per Share

BancFirst Co. (NASDAQ:BANF) declared a quarterly dividend on Thursday, August 22nd, Zacks reports. Stockholders of record on Monday, September 30th will be paid a dividend of 0.46 per share by the bank on Tuesday, October 15th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend is Monday, September 30th. This is an increase from BancFirst’s previous quarterly dividend of $0.43.

BancFirst has raised its dividend payment by an average of 7.9% annually over the last three years and has increased its dividend every year for the last 31 years. BancFirst has a payout ratio of 30.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect BancFirst to earn $5.83 per share next year, which means the company should continue to be able to cover its $1.84 annual dividend with an expected future payout ratio of 31.6%.

BancFirst Stock Up 0.4 %

Shares of BancFirst stock opened at $104.54 on Friday. The company has a fifty day moving average price of $104.23 and a 200 day moving average price of $93.37. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.06. BancFirst has a twelve month low of $79.99 and a twelve month high of $111.00. The stock has a market cap of $3.45 billion, a price-to-earnings ratio of 17.08 and a beta of 1.03.

BancFirst (NASDAQ:BANF) last issued its earnings results on Thursday, July 18th. The bank reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.09. The company had revenue of $153.84 million during the quarter, compared to the consensus estimate of $149.75 million. BancFirst had a return on equity of 13.89% and a net margin of 23.46%. Equities research analysts forecast that BancFirst will post 6.07 earnings per share for the current fiscal year.

Insider Activity at BancFirst

In other news, EVP Dennis Jay Hannah sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $106.50, for a total transaction of $319,500.00. Following the completion of the sale, the executive vice president now owns 7,714 shares of the company’s stock, valued at $821,541. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Dennis Jay Hannah sold 3,000 shares of the company’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $106.50, for a total value of $319,500.00. Following the sale, the executive vice president now owns 7,714 shares in the company, valued at approximately $821,541. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director William Scott Martin sold 5,000 shares of BancFirst stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $107.50, for a total value of $537,500.00. Following the completion of the transaction, the director now owns 326,904 shares of the company’s stock, valued at $35,142,180. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 67,564 shares of company stock valued at $7,150,517. Insiders own 33.89% of the company’s stock.

Analyst Ratings Changes

BANF has been the subject of several recent research reports. Piper Sandler increased their price objective on shares of BancFirst from $84.50 to $95.00 and gave the company an “underweight” rating in a research report on Monday, July 22nd. StockNews.com lowered shares of BancFirst from a “hold” rating to a “sell” rating in a report on Wednesday, September 4th.

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 BancFirst Metropolitan Banks, BancFirst Community Banks, Pegasus, Worthington, and Other Financial Services segments.