BancFirst Co. (NASDAQ:BANF – Get Rating) announced a quarterly dividend on Thursday, August 25th, Zacks reports. Investors of record on Friday, September 30th will be paid a dividend of 0.40 per share by the bank on Monday, October 17th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Thursday, September 29th. This is a boost from BancFirst's previous quarterly dividend of $0.36.
BancFirst has increased its dividend by an average of 11.1% per year over the last three years and has raised its dividend annually for the last 29 consecutive years. BancFirst has a dividend payout ratio of 25.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect BancFirst to earn $5.92 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 24.3%.
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NASDAQ BANF opened at $110.00 on Friday. The stock has a market capitalization of $3.60 billion, a P/E ratio of 23.26 and a beta of 1.08. BancFirst has a 12 month low of $53.77 and a 12 month high of $118.07. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.96 and a quick ratio of 0.96. The firm's 50-day moving average is $103.11 and its two-hundred day moving average is $90.21.
BancFirst (NASDAQ:BANF – Get Rating) last issued its quarterly earnings results on Thursday, July 21st. The bank reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.25. BancFirst had a net margin of 31.27% and a return on equity of 13.49%. On average, sell-side analysts anticipate that BancFirst will post 5.56 earnings per share for the current year.Wall Street Analyst Weigh In
Several analysts recently weighed in on BANF shares. StockNews.com raised shares of BancFirst from a "sell" rating to a "hold" rating in a report on Monday, July 25th. Piper Sandler raised their target price on shares of BancFirst to $91.00 in a report on Monday, July 25th.
Insider Activity at BancFirst
In other BancFirst news, EVP Kevin Lawrence sold 2,000 shares of the stock in a transaction that occurred on Tuesday, June 7th. The shares were sold at an average price of $95.35, for a total value of $190,700.00. Following the transaction, the executive vice president now directly owns 10,000 shares in the company, valued at $953,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other BancFirst news, EVP Kevin Lawrence sold 2,000 shares of the stock in a transaction that occurred on Tuesday, June 7th. The shares were sold at an average price of $95.35, for a total value of $190,700.00. Following the transaction, the executive vice president now directly owns 10,000 shares in the company, valued at $953,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David E. Rainbolt sold 9,388 shares of the stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $111.33, for a total transaction of $1,045,166.04. Following the completion of the transaction, the director now owns 25,000 shares in the company, valued at $2,783,250. The disclosure for this sale can be found here. Insiders have sold a total of 30,840 shares of company stock valued at $3,406,661 over the last 90 days. 35.70% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On BancFirst
A number of hedge funds and other institutional investors have recently bought and sold shares of BANF. Vanguard Group Inc. increased its position in BancFirst by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 2,033,648 shares of the bank's stock worth $169,221,000 after purchasing an additional 31,248 shares in the last quarter. State Street Corp lifted its position in BancFirst by 7.4% during the 1st quarter. State Street Corp now owns 853,690 shares of the bank's stock worth $71,343,000 after acquiring an additional 58,476 shares in the last quarter. Northern Trust Corp lifted its position in BancFirst by 5.4% during the 2nd quarter. Northern Trust Corp now owns 319,945 shares of the bank's stock worth $30,622,000 after acquiring an additional 16,309 shares in the last quarter. Invesco Ltd. raised its position in shares of BancFirst by 179.3% in the 1st quarter. Invesco Ltd. now owns 145,446 shares of the bank's stock valued at $12,103,000 after purchasing an additional 93,365 shares in the last quarter. Finally, Legal & General Group Plc raised its position in shares of BancFirst by 4.7% in the 2nd quarter. Legal & General Group Plc now owns 53,319 shares of the bank's stock valued at $5,103,000 after purchasing an additional 2,379 shares in the last quarter. Institutional investors and hedge funds own 46.45% of the company's stock.
About BancFirst
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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, Pegasus Bank, 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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