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1. Company Snapshot

1.a. Company Description

BancFirst Corporation operates as the bank holding company for BancFirst that provides a range of commercial banking services to retail customers, and small to medium-sized businesses.It operates through Metropolitan Banks, Community Banks, Pegasus Bank, and Other Financial Services segments.The company offers checking accounts, negotiable order of withdrawal accounts, savings accounts, money market accounts, sweep accounts, club accounts, individual retirement accounts, and certificates of deposit, as well as overdraft protection and auto draft services.


It also provides commercial, financial, and other loans for working capital, facilities acquisition or expansion, purchase of equipment, and other needs; lending services that include private banking, energy, commercial and residential real estate, and commercial and industrial loans; and loans to finance purchases of consumer goods, such as automobiles, boats, household goods, vacations, and education.In addition, the company engages in the investment management and administration of trusts for individuals, corporations, and employee benefit plans, as well as bond trustee and paying agent business for various Oklahoma municipalities and governmental entities; and provision of item processing, research, and other correspondent banking services.Further, it is involved in real estate investment and insurance agency services; and providing funds transfer, collection, safe deposit box, cash management, and other services.


The company serves customers in non-metropolitan trade centers and cities in the metropolitan statistical areas of Oklahoma.It operates through 108 banking locations in Oklahoma and 3 banking locations in Dallas, Texas.The company was formerly known as United Community Corporation and changed its name to BancFirst Corporation in November 1988.


BancFirst Corporation was incorporated in 1984 and is headquartered in Oklahoma City, Oklahoma.

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1.b. Last Insights on BANF

BancFirst Corporation's recent performance was driven by strong Q1 earnings and revenue beat, surpassing the Zacks Consensus Estimate of $1.58 per share with $1.67 per share. Net income increased to $56.1 million, or $1.67 per diluted share, compared to $50.3 million, or $1.50 per diluted share, in the same period last year. Additionally, the company's net interest income rose to $115.9 million, up from $106.1 million in the prior year period. Furthermore, BancFirst was added to the Zacks Rank #1 (Strong Buy) income stocks list and the Zacks Rank #1 (Strong Buy) List, indicating a high growth potential.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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D.A. Davidson & CO. Buys 908 Shares of BancFirst Corporation $BANF

Oct -31

Source: defenseworld.net

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BancFirst (BANF) Misses Q3 Earnings Estimates

Oct -17

Source: zacks.com

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BANCFIRST CORPORATION REPORTS THIRD QUARTER EARNINGS

Oct -17

Source: prnewswire.com

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6 Upcoming Dividend Increases Including A King

Sep -27

Source: seekingalpha.com

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New Strong Buy Stocks for August 28th

Aug -28

Source: zacks.com

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Best Income Stocks to Buy for August 28th

Aug -28

Source: zacks.com

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BancFirst (BANF) Could Find a Support Soon, Here's Why You Should Buy the Stock Now

Aug -19

Source: zacks.com

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BancFirst Posts 23% Profit Gain in Q2

Jul -23

Source: fool.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (1.81%)

6. Segments

BancFirst Community Banks

Expected Growth: 2.5%

BancFirst Community Banks' 2.5% growth is driven by strong loan growth, fueled by a robust Oklahoma economy, diversification into new markets, and strategic acquisitions. Additionally, the bank's focus on commercial and industrial lending, as well as its investment in digital banking capabilities, have contributed to its growth momentum.

Executive, Operations & Support

Expected Growth: 1.8%

Executive: Strategic expansion into new markets, diversification of revenue streams. Operations: Investment in digital transformation, process automation, and cost optimization. Support: Enhanced customer experience through improved service quality, and effective risk management. These drivers contributed to BancFirst Corporation's 1.8% growth.

Eliminations

Expected Growth: 0.5%

BancFirst Corporation's 0.5% growth is driven by strategic acquisitions, expanding commercial lending, and a strong Oklahoma economy. Additionally, the company's focus on digital transformation, cost savings initiatives, and a solid balance sheet contribute to its steady growth.

BancFirst Metropolitan Banks

Expected Growth: 2.2%

BancFirst Metropolitan Banks' 2.2% growth is driven by increasing deposits, fueled by a strong Oklahoma economy and strategic branch expansions. Loan growth is also robust, supported by a rise in commercial and industrial lending. Additionally, the bank's focus on digital transformation and cost savings initiatives has improved operational efficiency, contributing to the growth.

Other Financial Services

Expected Growth: 2.8%

BancFirst Corporation's 2.8% growth in Other Financial Services is driven by increasing demand for insurance and investment products, expansion of commercial lending, and strategic partnerships. Additionally, the corporation's focus on digital transformation and customer experience has improved cross-selling opportunities, contributing to the segment's growth.

Pegasus

Expected Growth: 1.5%

Pegasus from BancFirst Corporation's 1.5% growth is driven by increasing demand for digital banking services, strategic partnerships, and expansion into new markets. Additionally, investments in technology and process improvements have enhanced operational efficiency, contributing to the growth. Furthermore, a strong brand reputation and customer loyalty have also supported the growth momentum.

Worthington

Expected Growth: 1.2%

Worthington's 1.2% growth, driven by BancFirst Corporation, is attributed to strategic acquisitions, expanding commercial lending, and a strong Oklahoma economy. Additionally, effective cost management and a solid deposit base contribute to the segment's growth, while a favorable interest rate environment supports net interest income.

7. Detailed Products

Commercial Banking

BancFirst Corporation provides a range of commercial banking services, including cash management, treasury management, and commercial lending to businesses of all sizes.

Consumer Banking

BancFirst Corporation offers a variety of consumer banking services, including checking and savings accounts, credit cards, and personal loans.

Mortgage Banking

BancFirst Corporation provides mortgage banking services, including residential and commercial mortgage lending, to individuals and businesses.

Trust and Investment Services

BancFirst Corporation offers trust and investment services, including wealth management, estate planning, and investment management.

Insurance Services

BancFirst Corporation provides insurance services, including property and casualty insurance, life insurance, and employee benefits.

Treasury Management

BancFirst Corporation offers treasury management services, including cash management, wire transfers, and account reconciliation.

8. BancFirst Corporation's Porter Forces

Forces Ranking

Threat Of Substitutes

BancFirst Corporation operates in the banking industry, where substitutes are limited. However, digital payment systems and fintech companies may pose a moderate threat.

Bargaining Power Of Customers

BancFirst Corporation's customers are primarily individuals and small businesses, which have limited bargaining power. The bank's large customer base and diversified product offerings also reduce customer bargaining power.

Bargaining Power Of Suppliers

BancFirst Corporation's suppliers are primarily vendors providing technology and operational services. The bank's large size and diversified supplier base reduce supplier bargaining power.

Threat Of New Entrants

The banking industry has high barriers to entry, including regulatory hurdles and capital requirements. This limits the threat of new entrants and allows incumbent banks like BancFirst Corporation to maintain their market position.

Intensity Of Rivalry

The banking industry is highly competitive, with many established players competing for market share. BancFirst Corporation operates in a crowded market, which increases the intensity of rivalry.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 6.00%
Debt Cost 5.50%
Equity Weight 94.00%
Equity Cost 9.32%
WACC 9.09%
Leverage 6.38%

11. Quality Control: BancFirst Corporation passed 6 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
BancFirst

A-Score: 6.8/10

Value: 7.3

Growth: 7.0

Quality: 7.1

Yield: 4.0

Momentum: 7.5

Volatility: 7.7

1-Year Total Return ->

View Full Report
Stock-Card
BOK Financial

A-Score: 6.4/10

Value: 7.0

Growth: 7.4

Quality: 6.6

Yield: 4.0

Momentum: 5.0

Volatility: 8.3

1-Year Total Return ->

View Full Report
Stock-Card
Valley National Bank

A-Score: 6.4/10

Value: 5.9

Growth: 4.6

Quality: 6.4

Yield: 8.0

Momentum: 7.0

Volatility: 6.3

1-Year Total Return ->

View Full Report
Stock-Card
Associated Banc

A-Score: 6.0/10

Value: 5.1

Growth: 4.8

Quality: 4.3

Yield: 8.0

Momentum: 7.0

Volatility: 7.0

1-Year Total Return ->

View Full Report
Stock-Card
Prosperity Bancshares

A-Score: 5.7/10

Value: 4.1

Growth: 4.0

Quality: 7.5

Yield: 6.0

Momentum: 3.5

Volatility: 9.0

1-Year Total Return ->

View Full Report
Stock-Card
Western Alliance

A-Score: 5.5/10

Value: 8.1

Growth: 5.7

Quality: 7.0

Yield: 4.0

Momentum: 4.0

Volatility: 4.0

1-Year Total Return ->

View Full Report

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

109.35$

Current Price

109.35$

Potential

-0.00%

Expected Cash-Flows