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BancFirst Corporation (NASDAQ:BANF), a $3.87 billion Oklahoma-based commercial bank with a solid 36.24% one-year return, declared a quarterly cash dividend on its common stock and an interest payment for its trust preferred securities, as per its recent 8-K filing with the Securities and Exchange Commission. On February 27, 2025, the company’s Board of Directors announced a dividend of $0.46 per share, payable to shareholders of record as of March 31, 2025, with the payment date set for April 15, 2025. According to InvestingPro, BancFirst has maintained dividend payments for 32 consecutive years, demonstrating remarkable consistency in shareholder returns.
Furthermore, BancFirst will make a quarterly interest payment on $26.8 million of its 7.20% Junior Subordinated Debentures, which are related to trust preferred securities issued by BFC Capital Trust II, a statutory trust subsidiary of the corporation. The proceeds from this interest payment will fund a dividend of $0.45 per share on the trust preferred securities, also scheduled for April 15, 2025, to shareholders on record as of March 31, 2025.
This financial move by BancFirst Corporation reflects its ongoing commitment to providing returns to its investors. The announcement is based on a press release statement and is intended to keep the shareholders and the public informed of the company’s latest financial decisions. It is important to note that this article is purely informational and is based on the facts provided in the SEC filing.
In other recent news, BancFirst reported financial results that exceeded expectations, driven by higher-than-anticipated spread income and robust fee revenue. The company’s latest quarterly performance surpassed forecasts from both DA Davidson and Wall Street, aided by a reduced provision for credit losses. Keefe, Bruyette & Woods noted that BancFirst’s fourth-quarter earnings were supported by a provision-driven beat, despite challenges from higher expenses due to an OREO write-down. The bank ended the year with a 5% increase in loans and an 8% increase in deposits on a linked quarter annualized basis.
DA Davidson maintained its Neutral rating on BancFirst, keeping the price target at $120, while highlighting steady loan demand as a positive factor for future growth. Meanwhile, Keefe, Bruyette & Woods adjusted their price target to $132 from $135, maintaining a Market Perform rating. They anticipate a gradual easing cycle to benefit BancFirst’s rate-sensitive balance sheet, forecasting earnings of $6.36 in 2025 and $6.40 in 2026. The analysts believe that excess liquidity may impact the net interest margin but expect stabilization in the future.
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