NasdaqGS:BANF

Stock Analysis Report

Executive Summary

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.


Snowflake Analysis

Flawless balance sheet established dividend payer.


Similar Companies

Share Price & News

How has BancFirst's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: BANF's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

2.6%

BANF

-7.0%

US Banks

-2.6%

US Market


1 Year Return

-36.2%

BANF

-32.9%

US Banks

-13.3%

US Market

Return vs Industry: BANF underperformed the US Banks industry which returned -32.9% over the past year.

Return vs Market: BANF underperformed the US Market which returned -13.3% over the past year.


Shareholder returns

BANFIndustryMarket
7 Day2.6%-7.0%-2.6%
30 Day-27.3%-24.6%-15.2%
90 Day-44.8%-41.9%-22.2%
1 Year-34.5%-36.2%-30.8%-32.9%-11.5%-13.3%
3 Year-18.7%-23.6%-21.4%-27.3%13.2%5.7%
5 Year26.2%13.6%2.7%-9.2%31.8%17.2%

Price Volatility Vs. Market

How volatile is BancFirst's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is BancFirst undervalued compared to its fair value and its price relative to the market?

48.9%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: BANF ($34.17) is trading below our estimate of fair value ($66.9)

Significantly Below Fair Value: BANF is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: BANF is good value based on its PE Ratio (8.3x) compared to the Banks industry average (8.6x).

PE vs Market: BANF is good value based on its PE Ratio (8.3x) compared to the US market (12.5x).


Price to Earnings Growth Ratio

PEG Ratio: BANF's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: BANF is overvalued based on its PB Ratio (1.1x) compared to the US Banks industry average (0.8x).


Next Steps

Future Growth

How is BancFirst forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

-11.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BANF's earnings are forecast to decline over the next 3 years (-11.7% per year).

Earnings vs Market: BANF's earnings are forecast to decline over the next 3 years (-11.7% per year).

High Growth Earnings: BANF's earnings are forecast to decline over the next 3 years.

Revenue vs Market: BANF's revenue (1.2% per year) is forecast to grow slower than the US market (7% per year).

High Growth Revenue: BANF's revenue (1.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: BANF's Return on Equity is forecast to be low in 3 years time (10.5%).


Next Steps

Past Performance

How has BancFirst performed over the past 5 years?

17.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: BANF has high quality earnings.

Growing Profit Margin: BANF's current net profit margins (32.8%) are lower than last year (32.9%).


Past Earnings Growth Analysis

Earnings Trend: BANF's earnings have grown by 17.8% per year over the past 5 years.

Accelerating Growth: BANF's earnings growth over the past year (7.2%) is below its 5-year average (17.8% per year).

Earnings vs Industry: BANF earnings growth over the past year (7.2%) underperformed the Banks industry 10.9%.


Return on Equity

High ROE: BANF's Return on Equity (13.4%) is considered low.


Next Steps

Financial Health

How is BancFirst's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: BANF's level of assets compared to its equity is low.

Allowance for Bad Loans: BANF has a sufficient allowance for bad loans.

Low Risk Liabilities: BANF's liabilities are made up of primarily low risk sources of funding.

Loan Level: BANF has an acceptable proportion of non-loan assets held.

Low Risk Deposits: BANF's loans are broadly funded by customer deposits.

Level of Bad Loans: BANF has an appropriate level of bad loans (0.84%)


Next Steps

Dividend

What is BancFirst's current dividend yield, its reliability and sustainability?

3.74%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: BANF's dividend (3.75%) is higher than the bottom 25% of dividend payers in the US market (2.01%).

High Dividend: BANF's dividend (3.75%) is low compared to the top 25% of dividend payers in the US market (5.66%).


Stability and Growth of Payments

Stable Dividend: BANF's dividends per share have been stable in the past 10 years.

Growing Dividend: BANF's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (30%), BANF's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: BANF's dividends in 3 years are forecast to be well covered by earnings (43.1% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

4.0yrs

Average management tenure


CEO

David Harlow (56yo)

2.92s

Tenure

US$663,805

Compensation

Mr. David R. Harlow has been the Chief Executive Officer of Bancfirst Corporation since May 25, 2017 and serves as its President. Mr. Harlow served as President of BancFirst since 2003 until July 2017. He  ...


CEO Compensation Analysis

Compensation vs Market: David's total compensation ($USD663.81K) is below average for companies of similar size in the US market ($USD3.25M).

Compensation vs Earnings: David's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
David Rainbolt
Executive Chairman3.08yrsUS$523.43k0.56% $6.2m
David Harlow
CEO, President & Director2.92yrsUS$663.81k0.046% $518.6k
Kevin Lawrence
Executive VP5yrsUS$349.99k0.0026% $29.4k
Laura Ratliff
Advisory Directorno dataUS$18.00kno data
Randy Foraker
Executive VP17.25yrsUS$231.52k0.049% $549.6k
T. Faison
President of Commercial Capitalno datano datano data
Jennifer Weast
Senior VP & Controllerno datano datano data
Roy Ferguson
Executive VP & Chief Credit Officer of BancFirstno dataUS$166.94kno data
Dale Petersen
Executive Vice President of Asset Quality for BancFirstno datano datano data
J. Rogers
Senior Advisor2.33yrsno datano data

4.0yrs

Average Tenure

63yo

Average Age

Experienced Management: BANF's management team is considered experienced (4 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
David Rainbolt
Executive Chairman3.08yrsUS$523.43k0.56% $6.2m
David Harlow
CEO, President & Director2.92yrsUS$663.81k0.046% $518.6k
Laura Ratliff
Advisory Directorno dataUS$18.00kno data
H. Rainbolt
Chairman Emeritus3.08yrsUS$100.00k0.13% $1.4m
William Johnstone
Vice Chairman of the Board23.92yrsUS$2.00k0.049% $546.1k
Dennis Brand
Vice Chairman7.25yrsUS$512.25k0.093% $1.0m
Ronald Norick
Independent Director18yrsUS$24.00k0.11% $1.2m
C. Craig
Independent Director22yrsUS$31.63k0.16% $1.8m
G. Williams
Lead Independent Director7.25yrsUS$95.46k0.20% $2.2m
Gregory Wedel
Independent Director5.5yrsUS$66.05k0.0061% $68.4k

7.3yrs

Average Tenure

71yo

Average Age

Experienced Board: BANF's board of directors are considered experienced (7.3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: BANF insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

BancFirst Corporation's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: BancFirst Corporation
  • Ticker: BANF
  • Exchange: NasdaqGS
  • Founded: 1984
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$1.117b
  • Shares outstanding: 32.70m
  • Website: https://www.bancfirst.bank

Number of Employees


Location

  • BancFirst Corporation
  • 101 North Broadway
  • Oklahoma City
  • Oklahoma
  • 73102
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BANFNasdaqGS (Nasdaq Global Select)YesCommon SharesUSUSDApr 1993

Biography

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. It also provides commercial, financial, and other loans for working capital, facilities acquisition or expansion, purchase of equipment, and other needs; construction, farmland, one-to-four family residence, multifamily residential property, and commercial real estate loans; and loans to finance purchases of consumer goods, such as automobiles, boats, household goods, vacations, and education. In addition, the company 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 for financial institutions and governmental units. Further, it is involved in real estate investment and insurance agency services; and providing funds transfer, collection, safe deposit box, cash management, retail brokerage, and other services for individual and corporate customers. The company serves customers in non-metropolitan trade centers and cities in the metropolitan statistical areas of Oklahoma. It operates through 107 banking locations serving 58 communities in 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 based in Oklahoma City, Oklahoma. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/07 23:37
End of Day Share Price2020/04/07 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.