Latest news with #Keefe
Yahoo
4 days ago
- Business
- Yahoo
BancFirst (BANF) Stock Is Up, What You Need To Know
What Happened? Shares of oklahoma-based financial institution BancFirst Corporation (NASDAQ:BANF) jumped 3.5% in the morning session after the company reported second-quarter earnings and revenue that surpassed analyst expectations. The Oklahoma-based bank announced net income of $62.3 million, or $1.85 per diluted share, a significant increase from the $50.6 million, or $1.51 per share, reported in the same quarter of the previous year. This performance comfortably beat the consensus analyst estimate of $1.65 per share. Revenue for the quarter reached $169.3 million, also exceeding forecasts. The growth was driven by a rise in net interest income to $121.3 million, up from $109.9 million a year prior, which the company attributed to higher loan volume and overall growth in earning assets. Following the strong results, analysts at Keefe, Bruyette & Woods raised their price target on the stock to $132.00 from $123.00, while maintaining a "Market Perform" rating. After the initial pop the shares cooled down to $133.82, up 1.8% from previous close. Is now the time to buy BancFirst? Access our full analysis report here, it's free. What Is The Market Telling Us BancFirst's shares are not very volatile and have only had 6 moves greater than 5% over the last year. In that context, today's move indicates the market considers this news meaningful, although it might not be something that would fundamentally change its perception of the business. The previous big move we wrote about was about 22 hours ago when the stock gained 3.5% as the second quarter (2025) earnings season got off to a strong start. Quarterly earnings reports released during the week exceeded Wall Street's expectations, fueling investor confidence. Around 50 S&P 500 components reported, with 88% of those exceeding analysts' expectations, FactSet data revealed. Investors were also encouraged by several positive reports that painted a picture of a resilient consumer. One key report revealed that shoppers increased their spending at U.S. retailers more than economists had anticipated. Precisely, retail sales increased 0.6% from May, surpassing the 0.2% estimate. This robust consumer spending is a crucial pillar supporting the economy. Adding to the positive sentiment, the latest data on unemployment claims showed a decrease in the number of workers applying for benefits, signaling that layoffs remain limited and the job market is steady. This combination of strong earnings reports, retail sales, and a solid labor market suggests the economy is navigating challenges successfully. BancFirst is up 15.3% since the beginning of the year, and at $133.82 per share, has set a new 52-week high. Investors who bought $1,000 worth of BancFirst's shares 5 years ago would now be looking at an investment worth $3,522. Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we've identified a relatively under-the-radar profitable growth stock benefiting from the rise of AI, available to you FREE via this link.
Business Insider
15-07-2025
- Business
- Business Insider
Here's what Wall St. experts are saying about these banks ahead of earnings
JPMorgan (JPM), Wells Fargo (WFC), and Citi (C) are scheduled to announce quarterly results on July 15. What to watch for: Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. TARGETS RAISED: JPMorgan raised the firm's price target on Wells Fargo to $83 from $73.50, while keeping a Neutral rating on the shares as part of a Q2 preview for the large cap banks. The firm attributes the recent outperformance of the large bank stocks to the hope for a continued good economy and regulatory benefits with some reduction in capital requirements. In the near term, JPMorgan expects large bank stocks to remain in a narrow range due to 'moderate fundamentals' and above average valuations. The firm also raised its price target on Citi to $87.50 from $75, keeping a Neutral rating on the shares as part of a Q2 preview for the large cap banks. VALUATION AFTER RALLY: Earlier this month, Raymond James double downgraded Wells Fargo to Market Perform from Strong Buy without a price target. The firm says the shares are up 15% since it increased earnings estimates following the removal of the asset cap. Raymond James remains bullish on Wells' growth prospects and continued profitability improvement, but believes upside to earnings estimates is now appropriately reflected in the stock's premium valuation, which will limit near-term upside. Meanwhile, HSBC downgraded JPMorgan to Reduce from Hold with a price target of $259, up from $237. The firm is more cautious on universal banks and brokers following the recent rally in the shares. HSBC recommends a more constructive stance on super-regionals. While operating fundamentals in the banks and broker group appear healthy, share valuations are 'increasingly stretched,' the firm tells investors in a research note. For JPMorgan, HSBC is not taking a more negative view of the company's operating fundamentals. Rather, it sees an unattractive risk-to-reward profile at current share levels. On the flip side, HSBC raised the firm's price target on Citi to $97 from $86 and kept a Buy rating on the shares. BUSINESS MODEL SUPERIORITY: Last week, Keefe Bruyette analyst Christopher McGratty upgraded JPMorgan to Outperform from Market Perform with a price target of $327, up from $253, following a transfer of coverage. The firm is bullish on the long-term structural benefits of scale for the large-cap banks. It prefers business models that can produce leading returns with high degrees of predictability. Keefe cites 'business model superiority' for the upgrade.
Business Insider
14-07-2025
- Business
- Business Insider
Perella Weinberg downgraded to Market Perform from Outperform at Keefe Bruyette
Keefe Bruyette downgraded Perella Weinberg Partners (PWP) to Market Perform from Outperform with a price target of $23, up from $22, following a transfer of coverage. The firm believes the merger and acquisition environment should continue to improve gradually throughout the second half of the year. While policy and geopolitical uncertainty remain a risk, deal pipelines are still near all-time highs, the analyst tells investors in a research note. Keefe upgraded Houlihan Lokey and downgraded Perella Weinberg with the analyst change. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Business Insider
11-07-2025
- Business
- Business Insider
Hancock Whitney downgraded to Market Perform from Outperform at Keefe Bruyette
Keefe Bruyette analyst Catherine Mealor downgraded Hancock Whitney (HWC) to Market Perform from Outperform with a price target of $63, up from $62, ahead of the Q2 report. The shares have outperformed year-to-date and most of the quarter's optimism is now priced in, the analyst tells investors in a research note. Given Hancock's slower revenue growth outlook in the second half of 2025 and 2026 relative to peers, Keefe believes a Market Perform rating is now appropriate. Don't Miss TipRanks' Half-Year Sale Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Business Insider
11-07-2025
- Business
- Business Insider
FB Financial upgraded to Outperform from Market Perform at Keefe Bruyette
Keefe Bruyette upgraded FB Financial (FBK) to Outperform from Market Perform with a price target of $58, up from $52, ahead of the Q2 report. The firm believes elieve FB is well positioned for stronger organic balance sheet growth and profitability benefits from the 12% accretive Southern States acquisition. Keefe sees a positive inflection for the company's earnings growth and limited integration risk. Don't Miss TipRanks' Half-Year Sale Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
