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BANF — BancFirst News Story

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Brief: BancFirst Q2 EPS USD 1.85

Overview

BancFirst Q2 net income rises to $62.3 mln, beating analyst expectations, per LSEG data

EPS for Q2 beats consensus, per LSEG data

Co's expects acquisition of American Bank of Oklahoma to close in Q3

Outlook

BancFirst sees potential impact from Fed's interest rate decisions

Company maintains healthy loan loss reserve amid geopolitical risks

Result Drivers

HIGHER LOAN VOLUME - Increased loan volume and growth in earning assets drove higher net interest income

NONINTEREST INCOME GROWTH - Rise in trust revenue, treasury income, sweep fees, and insurance commissions contributed to noninterest income growth

EXPENSE INCREASE - Growth in salaries, employee benefits, and occupancy expenses led to higher noninterest expenses

Key Details

MetricBeat/MissActualConsensus Estimate
Q2 EPSBeat$1.85$1.65 (3 Analysts)
Q2 Net IncomeBeat$62.35 mln$56.10 mln (2 Analysts)
Q2 Net Interest Income$121.26 mln
Q2 Credit Loss Provision$1.24 mln
Q2 Net Interest Margin3.8%
Q2 Pretax Profit$79.72 mln
Analyst Coverage The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell" The average consensus recommendation for the banks peer group is "buy." Wall Street's median 12-month price target for BancFirst Corp is $120.00, about 6.5% below its July 16 closing price of $127.81 The stock recently traded at 19 times the next 12-month earnings vs. a P/E of 17 three months ago Press Release: ID:nPn72sQkfa (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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