BancFirst announces dividend, interest payment plans By Investing.com

OKLAHOMA CITY – BancFirst (NASDAQ:) Corporation (NASDAQ:BANF) today announced that its Board of Directors has declared a quarterly cash dividend of $0.46 per share on its common stock. The dividend is scheduled for payment on October 15 to shareholders of record as of September 30.

In addition, the company will make a quarterly interest payment on $26.8 million of its 7.20% Junior Subordinated Debentures. These debentures are related to the trust preferred securities issued by its statutory trust subsidiary, BFC Capital Trust II.

The interest payment from BancFirst Corporation will enable BFC Capital Trust II to pay a dividend of $0.45 per share on the trust preferred securities. This payment will also be distributed on October 15 to shareholders who are on record as of September 30.

This financial update is based on a press release statement and is intended to provide shareholders with important dates and figures regarding their investments.

The announcement reflects the company’s ongoing commitment to return value to its shareholders through regular dividends. BancFirst Corporation, headquartered at 100 N. Broadway Ave., Oklahoma City, Oklahoma, operates within the national commercial banks sector under the industrial classification code of 6021.

The declaration of dividends is a common practice among publicly traded companies, serving as a way to distribute a portion of earnings back to shareholders. Dividend payments and interest payments on debentures are subject to declaration by the company’s board of directors and can vary based on the company’s financial performance and other factors.

BancFirst Corporation’s announcement of these financial decisions underscores the company’s financial management and strategy for capital distribution. The information provided in this article is intended to keep investors informed and is based solely on the facts from the company’s recent SEC filing.

In other recent news, BancFirst Corporation has announced the appointment of Kim Ingram as a new member of its Board of Directors. Ingram, a CEO of Kelly Jewelers and a Western Oklahoma native, brings a wealth of community and professional experience to the role.

Her compensation aligns with the company’s existing fee schedule for outside directors, and she will also receive restricted stock units under the BancFirst Corporation 2023 Restricted Stock Unit Plan.

This strategic corporate governance development is expected to enhance the board’s expertise as BancFirst continues to serve its community and stakeholders.

In related developments, BancFirst’s stock target has been raised by Piper Sandler, despite maintaining an Underweight rating. The adjustment follows BancFirst’s robust profitability in the second quarter, prompting Piper Sandler to revise its earnings per share estimates for 2024 and 2025 upwards.

However, the firm anticipates limited potential for price-to-earnings ratio expansion above peers for BancFirst, citing a lack of clarity on the bank’s plans for deploying excess capital, particularly in mergers and acquisitions. These are some of the recent developments surrounding BancFirst Corporation.

InvestingPro Insights

BancFirst Corporation’s consistent approach to dividends is underscored by a notable track record, as highlighted by an InvestingPro Tip: the company has raised its dividend for 26 consecutive years and has maintained dividend payments for 32 consecutive years. This consistency in rewarding shareholders is a testament to the company’s financial resilience and strategic focus on long-term shareholder value. Additionally, the company’s stock is trading near its 52-week high, indicating strong market confidence.

InvestingPro Data reveals a market capitalization of approximately $3.53 billion, with a Price/Earnings (P/E) ratio of 17.5, suggesting that the stock is being traded at a valuation close to its earnings. The company’s revenue over the last twelve months as of Q2 2024 stands at $594.14 million, although it experienced a slight revenue decline of 2.5% over the same period. Despite this, the company has demonstrated robust operating income margins of 46.93%, reflecting efficient management and a strong competitive position within its sector.

For investors seeking deeper insights and additional metrics to inform their investment decisions, there are 9 more InvestingPro Tips available through the BancFirst Corporation InvestingPro page at https://www.investing.com/pro/BANF. These tips could provide valuable context and guidance, especially in light of the company’s upcoming earnings date on October 17, 2024.

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