BancFirst Corporation (BANF) spotted trading -1.32% off 52-week high price. On the other end, the stock has been noted 25.00% away from the low price over the last 52-weeks. The stock changed -1.12% to recent value of $62.74. The stock transacted 92778 shares during most recent day however it has an average volume of 42.67K shares. The company has 32.71M of outstanding shares and 8.20M shares were floated in the market.
On Jan. 17, 2020, BancFirst Corporation (NASDAQ GS:BANF) revealed net income of $35.5 million, or $1.07 diluted earnings per share, for the fourth quarter of 2019 compared to net income of $32.7 million, or $0.98 diluted earnings per share, for the fourth quarter of 2018. Net income for the twelve months ended December 31, 2019 was $134.9 million, or $4.05 per share, compared to $125.8 million, or $3.76 per share, for the twelve months ended December 31, 2018. On August 15, 2019 the Company completed the acquisition of Pegasus Bank in Dallas, Texas. As a result, year to date results include one-time acquisition related expenses of approximately $3.1 million, which reduced diluted earnings per share by approximately 7 cents for the year. On January 11, 2018 the Company completed the acquisitions of two Oklahoma banking corporations. Consequently, 2018 included one-time acquisition related expenses of approximately $2.6 million, which reduced diluted earnings per share by approximately 6 cents.
The Company’s net interest income for the fourth quarter of 2019 increased to $73.9 million compared to $66.9 million for the fourth quarter of 2018. The net interest margin for the quarter was 3.78% compared to 3.77% a year ago. The provision for loan losses for the fourth quarter of 2019 was $1.4 million compared to $1.5 million a year ago. Net charge-offs for the full year of 2019 were 0.10% of average loans compared to 0.08% of average loans in 2018. Net charge-offs for the fourth quarter of 2019 were 0.06% of average loans compared to 0.04% of average loans in 2018. Noninterest income for the quarter totaled $35.5 million, compared to $31.9 million last year. The increase in noninterest income was primarily due to an increase in trust revenue, growth in debit card usage fees and sweep fees. Noninterest expense for the quarter totaled $66.3 million compared to $56.2 million last year. The increase in noninterest expense was primarily due to salary increases in 2019, the Pegasus Bank acquisition, and $2.3 million of amortization of new market tax credits. The Company’s effective tax rate was 15.0% compared to 20.3% for the fourth quarter of 2018. The decrease in the effective tax rate compared to the fourth quarter of 2018 was due to the aforementioned purchase of tax credits during the quarter.
Its earnings per share (EPS) expected to touch remained 35.10% for this year while earning per share for the next 5-years is expected to reach at 7.00%. BANF has an operating margin of 80.70%.
The price moved ahead of 0.41% from the mean of 20 days, 3.28% from mean of 50 days SMA and performed 10.11% from mean of 200 days price. Company’s performance for the week was 1.57%, -0.29% for month and YTD performance remained 0.48%.
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