Stock of the Day

September 25, 2019

BancFirst (BANF)

$116.14
-$3.90 (-3.2%)
Market Cap: $4.03B

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. The company operates through BancFirst Metropolitan Banks, BancFirst Community Banks, Pegasus, Worthington, and Other Financial Services segments. It 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. The company also provides commercial and agricultural non-real estate loans for working capital, facilities acquisition or expansion, purchase of equipment, and other needs; lending services that include private banking, energy, commercial and residential real estate, and commercial and industrial loans; and loans to finance purchases of consumer goods, such as automobiles, boats, household goods, vacations, and education. In addition, it engages in the investment management and administration of trusts for individuals, corporations, and employee benefit plans, as well as bond trustee and paying agent business for various Oklahoma municipalities and governmental entities; and provision of item processing, research, and other correspondent banking services to financial institutions and governmental units. Further, the company provides insurance agency services; depository and funds transfer, collection, safe deposit box, cash management, and other services. It serves customers in non-metropolitan trade centers and cities in the metropolitan statistical areas of Oklahoma. The company was formerly known as United Community Corporation and changed its name to BancFirst Corporation in November 1988. BancFirst Corporation was incorporated in 1984 and is headquartered in Oklahoma City, Oklahoma.

Today's Trend

BancFirst Corporation (NASDAQ:BANF) shares climbed after a strong Q2 earnings report, pushing the stock to a new 52-week high and prompting analyst price target increases. Key drivers behind today’s move include:

  • Q2 earnings of $1.85 per share topped consensus estimates by $0.19, marking a year-over-year increase in net income. BancFirst Releases Earnings Results
  • The stock set a new 52-week high and gapped up following the better-than-expected earnings. BancFirst Hits New 1-Year High
  • Keefe, Bruyette & Woods raised its price target on BANF from $123 to $132, reflecting growing confidence in the bank’s outlook. Analyst Price Target Increase
  • Revenue for the quarter was $169.31 million, missing estimates by $0.99 million despite the EPS beat. BancFirst GAAP EPS and Revenue
  • Even after the upward revision, the $132 price target still implies roughly a 2.7% downside from current levels. Benzinga
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