BancFirst Corporation's Financial Performance in the Competitive Banking Sector

Core Viewpoint - BancFirst Corporation is currently not generating returns that exceed its cost of capital, indicating limited value creation for shareholders [2][5] Company Overview - BancFirst Corporation is a financial services company based in Oklahoma, offering a range of banking services including commercial and retail banking, investment management, and trust services [1] Financial Performance Metrics - BancFirst's Return on Invested Capital (ROIC) is 11.75% and its Weighted Average Cost of Capital (WACC) is 12.20%, resulting in a ROIC to WACC ratio of 0.96 [2][5] - Community Trust Bancorp, Inc. (CTBI) has a ROIC of 8.01% and a WACC of 12.78%, with a ROIC to WACC ratio of 0.63, indicating similar challenges in value creation [3] - City Holding Company (CHCO) shows strong value creation with a ROIC of 35.96% and a WACC of 8.04%, resulting in a ROIC to WACC ratio of 4.47 [3][5] - Westamerica Bancorporation (WABC) has a ROIC of 11.74% and a WACC of 6.90%, leading to a favorable ROIC to WACC ratio of 1.70 [4][5] - BOK Financial Corporation (BOKF) and Arrow Financial Corporation (AROW) exhibit less favorable ratios, with BOKF at 0.30 and AROW at -0.04, indicating challenges in capital efficiency [4]