BancFirst (BANF) Beats Q2 Earnings and Revenue Estimates

Company Performance - BancFirst reported quarterly earnings of $1.51 per share, exceeding the Zacks Consensus Estimate of $1.42 per share, but down from $1.64 per share a year ago, representing an earnings surprise of 6.34% [1] - The company posted revenues of $153.84 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 2.73%, and compared to year-ago revenues of $153.9 million [1] - BancFirst has surpassed consensus EPS estimates four times over the last four quarters and has also topped consensus revenue estimates four times during the same period [1] Stock Outlook - The stock has added about 2.6% since the beginning of the year, underperforming the S&P 500's gain of 17.2% [2] - The current consensus EPS estimate for the coming quarter is $1.45 on revenues of $152.45 million, and for the current fiscal year, it is $5.80 on revenues of $605.4 million [4] - The estimate revisions trend for BancFirst is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [4] Industry Context - The Banks - Southwest industry, to which BancFirst belongs, is currently in the bottom 31% of over 250 Zacks industries, which may impact stock performance [5] - Red River Bancshares, another company in the same industry, is expected to report quarterly earnings of $1.12 per share, reflecting a year-over-year decline of 10.4% [5]