At a glance
BancFirst Corporation is worth $3.72B, about 16 times its fiscal 2025 earnings. Revenue grew 9.4% to $690.6M in fiscal 2025, with 34.8% kept as profit; over 5 years it has grown 9.2% a year. It pays a 1.76% dividend yield, raised every year for at least 9 years, and returned $280.7M to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned +1.1% over the past year with dividends reinvested and +13.3% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 23.2% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 25 months after the low.
The business in plain English
BancFirst Corporation is a financial holding company (a parent that owns banks) based in Oklahoma City. Most of its business runs through BancFirst, an Oklahoma bank with 109 locations in 62 communities, per its 2025 annual report. Its six business units include BancFirst's metropolitan banks and community banks, plus two Texas banks: Pegasus Bank around Dallas and Worthington Bank around Fort Worth. American Bank of Oklahoma, acquired November 17, 2025, merged into BancFirst in February 2026.
Its customers are mainly individuals and small to medium-sized businesses, in small-town trade centers and Oklahoma's cities. Its main activity is lending to businesses in light manufacturing, local trade, real estate development and construction, services, agriculture and energy. It also offers consumer loans, deposit accounts, trust services and insurance through its own agency. In its “super community bank” model, local market presidents set loan terms and pricing, while back-office work is centralized.
It earns most of its money from net interest income, the gap between interest earned on loans and investments and interest paid on deposits. In fiscal 2025 that was $490 million of $691 million in revenue; the other $200 million was noninterest income, such as fees. Loans are funded almost entirely by core deposits, meaning steady local customer accounts. It held 7.58% of Oklahoma deposits as of June 30, 2025.
Price history
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BANF +1.1% over the year to Oct 28, 2026, total return with dividends reinvested.
Latest results
- In Q2 FY2026 (ended Jun 30, 2026), revenue was $187.5M, up 10.7% from a year earlier, and net income was $66.7M (+7.0%).
- For fiscal 2025, revenue was $690.6M (+9.4% year over year; +9.2% a year from FY2020 to FY2025) with a 34.8% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +9.2% good |
|---|---|
| Return on equity | 13% good |
| Net income / revenue | 34.8% good |
| Deposits | $12.83B |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $443.9M | $99.6M | — |
| FY2021 | $485.7M | $167.6M | — |
| FY2022 | $557.4M | $193.1M | — |
| FY2023 | $609.9M | $212.5M | — |
| FY2024 | $631.4M | $216.4M | — |
| FY2025 | $690.6M | $240.6M | — |
Valuation snapshot
| Market value | $3.72B |
|---|---|
| P/E ratio | 15.6 |
| Dividend yield | 1.76% |
Rank among 1514 US companies
Market value at each year end
BancFirst’s market value went from $1.92B at the end of 2020 to $3.72B on Oct 28, 2026, up 94%; since the end of 2025 it is up 5%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Oct 28, 2026 | $3.72B | +5.2% |
| 2025 | $3.53B | -9.0% |
| 2024 | $3.88B | +21.2% |
| 2023 | $3.20B | +10.5% |
| 2022 | $2.90B | +26.1% |
| 2021 | $2.30B | +19.8% |
| 2020 | $1.92B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| BANF price data to Oct 28, 2026 | +5.8% | +1.1% | +13.1% | +13.3% | — |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +5.8% |
| 2025 | -8.0% |
| 2024 | +22.6% |
| 2023 | +12.4% |
| 2022 | +27.1% |
| 2021 | +22.8% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Gained 26.5% over that stretch · deepest drop along the way 23.2%, back to its old high 24.6 months after the low |
Insider activity
Form 4 filings from 2025-11-03 to 2026-11-03 (25 read): 0 open-market purchases and 15 sales ($26.1M).
| Date | Insider | Type | Value |
|---|---|---|---|
| Jul 28, 2026 | David E Rainbolt Director, 10% owner | sell | $9.5M |
| Jul 27, 2026 | David E Rainbolt Director, 10% owner | sell | $3.5M |
| Apr 28, 2026 | David E Rainbolt Director, 10% owner | sell | $2.8M |
| Aug 4, 2026 | David E Rainbolt Director, 10% owner | sell | $2.1M |
| Apr 23, 2026 | David E Rainbolt Director, 10% owner | sell | $2.0M |
Who owns it
Large shareholders (13G filings)
| BlackRock, Inc. | 9.6% | Dec 31, 2024 |
| Kayne Anderson Rudnick Investment Management, LLC | 7.6% | Jun 30, 2025 |
ETFs with the most weight in BANF
| QABA First Trust NASDAQ ABA Community Bank Index Fund | 2% |
| JPSV JPMorgan Active Small Cap Value ETF | 1.1% |
| GRPZ Invesco S&P SmallCap 600 GARP ETF | 0.93% |
| KBE SPDR S&P Bank ETF | 0.88% |
| OASC OneAscent Small Cap Core ETF | 0.77% |
| XSHQ Invesco S&P SmallCap Quality ETF | 0.67% |
| PSCF Invesco S&P SmallCap Financials ETF | 0.67% |
| KRE SPDR S&P Regional Banking ETF | 0.44% |
What could go wrong
- Heavy dependence on Oklahoma's economy. Its main bank has 109 locations in 62 Oklahoma communities, while its Texas banks have far fewer. A slump in Oklahoma's economy could raise loan losses and slow deposit growth together.
- Energy and farm loans follow commodity prices. BancFirst lends to agricultural and energy businesses, and its Texas banks also make energy loans. When oil, gas or crop prices fall, these borrowers can struggle to repay, and losses can arrive together.
- Insiders hold effective control. Insiders and related holders owned about 35% of shares as of January 31, 2026. Its 10-K annual report says that gives them effective control without a majority, limiting other shareholders' say on directors and mergers.
- Growth leans on acquisitions. BancFirst has grown by acquiring over 40 banks, including American Bank of Oklahoma in November 2025. Each deal brings risks of overpaying, losing customers or staff, and costly system conversions.
- Fierce competition, especially in North Texas. The 10-K calls North Texas one of the most competitive banking markets in the nation. Pegasus and Worthington rely on their relationship officers' and directors' contacts, so losing key people could slow growth.
- Interest rates drive most of its revenue. Net interest income was $490 million of $691 million in fiscal 2025 revenue. Falling rates can shrink what loans earn, while competition for deposits can push up what it must pay savers.
Recent events
- Investor presentation or announcement
- Quarterly results released
- Investor presentation or announcement
- Quarterly results released
- Investor presentation or announcement
- Shareholder vote results; Investor presentation or announcement
- Quarterly results released
- Executive or board change; Investor presentation or announcement
- Quarterly results released
- Investor presentation or announcement
For income and retirement investors
BancFirst has raised its regular dividend at least nine years in a row through fiscal 2025, and the streak may be longer. The dividend reached $1.90 per share in fiscal 2025, up from about $1.28 in fiscal 2020 (8.2% a year). Dividends took 25.9% of fiscal 2025 profit (the payout ratio), leaving room if profits dip. The yield was 1.76% as of October 28, 2026. Share buybacks were small: $13.5 million over fiscal 2021–2025, against $267 million in dividends, and the share count rose 3.2% from October 2021 to July 2026.
In the 2022 bear market, while the broad market fell from January 3 to October 12, 2022, BancFirst shares rose 26.5%. They still dropped 23.2% from August 15 to September 30, 2022, and took about 25 months, until October 17, 2024, to regain that peak. The price record here misses 2008 and the 2020 COVID crash. A single stock carries more risk than a diversified fund.
Questions investors ask
How does BancFirst make money?
Mostly by lending. BancFirst gathers deposits from customers in Oklahoma and North Texas and lends to small and medium-sized businesses, including agricultural and energy firms, and to households. In fiscal 2025, net interest income (interest earned on loans and investments minus interest paid on deposits) was $490 million of $691 million in revenue. The other $200 million was noninterest income, which includes fees for services such as trust management and insurance. Net income was $241 million, up 11.2% from fiscal 2024.
Does BancFirst raise its dividend every year?
Yes, through fiscal 2025 it had raised its regular dividend at least nine years in a row, and the streak may be longer. The dividend grew from about $1.28 per share in fiscal 2020 to $1.90 in fiscal 2025, or 8.2% a year. Dividends took 25.9% of fiscal 2025 profit, a low share that leaves room if earnings dip. The yield was 1.76% as of October 28, 2026. Past increases don't guarantee future ones.
Who owns BancFirst stock?
Insiders and related holders owned about 35% of shares as of January 31, 2026, which the 10-K says gives them effective control of the company without a majority. BlackRock reported 9.6% as of December 31, 2024, and Kayne Anderson Rudnick 7.6% as of June 30, 2025. From October 29, 2025 to October 29, 2026, filings show at least 15 insider sales, together worth about $26.1 million, and no purchases. Director and 10% owner David E. Rainbolt made the largest sales.
What is BancFirst's P/E ratio?
BancFirst's price-to-earnings (P/E) ratio was 15.6 as of October 28, 2026. P/E compares the share price with a year's profit per share, here fiscal 2025 earnings of $7.11 per share, up from $3.00 in fiscal 2020. The company's market value was about $3.7 billion. Return on equity, profit as a share of shareholders' capital, was 13% in fiscal 2025. The P/E is worth comparing with those of other regional banks.
How has BancFirst stock performed?
It gained over three and five years but barely moved over one year. As of October 28, 2026, share price returns were 1.1% over one year, 13.1% a year over three years (45% in total) and 13.3% a year over five years (87% in total). It fell 8.03% in calendar 2025 and rose 5.8% in 2026 through October 28. Its one-year beta of 0.53 means it tended to move less than the broad market, yet it still dropped 14.2% from a peak during that year.