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Investing.com - DA Davidson has raised its price target on BancFirst (NASDAQ:BANF) to $136.00 from $120.00 while maintaining a Neutral rating on the stock. The bank’s shares, currently trading at $135.30, have demonstrated remarkable strength with a 31% return over the past year and are approaching their 52-week high of $137.40. According to InvestingPro data, the company maintains a GREAT financial health score of 3.03.
The firm cited BancFirst’s "solid quarter" with stronger than projected spread income, which was driven by net interest margin expansion and quarter-over-quarter earning asset growth.
DA Davidson noted that core expenses came in below projections and should remain well-controlled throughout the remainder of 2025.
The analyst report highlighted that BancFirst’s asset quality metrics remained stable, with only modestly higher net charge-offs related to a foreclosed property.
Despite the price target increase, DA Davidson maintained its Neutral rating on BancFirst stock, reflecting a balanced outlook on the company’s near-term prospects.
In other recent news, BancFirst Corporation reported second-quarter earnings and revenue that exceeded analyst expectations. The company achieved a net income of $62.3 million, or $1.85 per diluted share, surpassing the previous year’s figures of $50.6 million and $1.51 per share. Revenue for the quarter reached $169.3 million, beating the consensus estimate of $163.82 million. Earnings per share were $1.85, outperforming analyst projections by $0.20. Net interest income rose to $121.3 million, driven by increased loan volume and growth in earning assets. BancFirst also reported a decrease in provisions for credit losses, down to $1.2 million from $3.4 million in the previous year. Noninterest income increased to $48.0 million, with notable growth in trust revenue and insurance commissions. The company is also set to close its acquisition of American Bank of Oklahoma in the third quarter, expanding its presence to new communities. Total (EPA:TTEF) assets as of June 30, 2025, were $14.0 billion, marking a $491.5 million increase since the end of 2024.
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