Bancfirst Beneish M Score

BANF -  USA Stock  

USD 85.34  0.30  0.35%

This module uses fundamental data of Bancfirst Corp to approximate the value of its Beneish M Score. Bancfirst Corp M Score tells investors if the company management is likely to be manipulating earnings. The score is calculated using eight financial indicators that are adjusted by a specific multiplier. Please note, the M Score is a probabilistic model and cannot detect companies that manipulate their earnings with 100% accuracy. Continue to Bancfirst Corp Piotroski F Score and Bancfirst Corp Altman Z Score analysis.
  
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Bancfirst Corp Issuance Repayment of Debt Securities is projected to based on the last few years of reporting. The past year's Issuance Repayment of Debt Securities was at 66.76 Million. The current year Debt to Equity Ratio is expected to grow to 7.40, whereas Total Debt is forecasted to decline to about 68.4 M. Bancfirst Corp PPandE Turnover is projected to slightly decrease based on the last few years of reporting. The past year's PPandE Turnover was at 2.28. The current year Asset Turnover is expected to grow to 0.05, whereas Cash and Equivalents Turnover is forecasted to decline to 0.21.
At this time, it appears that Bancfirst Corp is an unlikely manipulator. The earnings manipulation may begin if Bancfirst Corp's top management creates an artificial sense of financial success, forcing the stock price to be traded at a high price-earnings multiple than it should be. In general, excessive earnings management by Bancfirst Corp executives may lead to removing some of the operating profits from subsequent periods to inflate earnings in the following periods. This way, the manipulation of Bancfirst Corp's earnings can lead to misrepresentations of actual financial condition, taking the otherwise loyal stakeholders on to the path of questionable ethical practices and plain fraud.
-3.9
Beneish M Score - Unlikely Manipulator
Elasticity of ReceivablesN/AFocus
Asset QualityN/AFocus
Expense Coverage1.06Focus
Gross Margin Strengs0.99Focus
Accruals Factor1.06Focus
Depreciation Resistance0.96Focus
Net Sales Growth0.91Focus
Financial Leverage Condition1.01Focus

Bancfirst Corp Beneish M-Score Indicator Trends

The cure to earnings manipulation is the transparency of financial reporting. It will typically remove the temptation of the top executives to inflate earnings (i.e., to promote the idea of 'winning at any cost'). Because a healthy internal audit department can enhance transparency, the board should promote the auditors' access to all the record-keeping systems across the enterprise. For example, if Bancfirst Corp's auditors report directly to the board (not management), the managers will be reluctant to manipulate simply due to the fear of punishment. On the other hand, the auditors will be free to investigate the ledgers properly because they know that the board has their back.
Current ValueLast YearChange From Last Year 10 Year Trend
Revenues449.5 M494.4 M
Significantly Down
Increasing
Slightly volatile
Selling General and Administrative Expense192.4 M199.3 M
Sufficiently Down
Increasing
Slightly volatile
Net Cash Flow from Operations163 M189.8 M
Fairly Down
Increasing
Slightly volatile
Depreciation Amortization and Accretion18.3 M20 M
Significantly Down
Increasing
Slightly volatile
Total Assets9.2 B9.4 B
Fairly Down
Increasing
Slightly volatile
Investments6.4 B6.6 B
Sufficiently Down
Increasing
Slightly volatile
Property Plant and Equipment Net234.5 M269 M
Fairly Down
Increasing
Slightly volatile
Total Liabilities8.1 B8.2 B
Fairly Down
Increasing
Slightly volatile
Total Debt68.4 M86 M
Significantly Down
Increasing
Very volatile
Operating Income179.6 M208.4 M
Fairly Down
Increasing
Slightly volatile
Gross Margin0.890.9
Fairly Down
Decreasing
Slightly volatile

Bancfirst Corp Beneish M-Score Driver Matrix

One of the toughest challenges investors face today is learning how to quickly synthesize historical financial statements and information provided by the company, SEC reporting, and various external parties in order to detect the potential manipulation of earnings. Understanding the correlation between Bancfirst Corp's different financial indicators related to revenue, expenses, operating profit, and net earnings helps investors identify and prioritize their investing strategies towards Bancfirst Corp in a much-optimized way. Analyzing correlations between earnings drivers directly associated with dollar figures is the most effective way to find Bancfirst Corp's degree of accounting gimmicks and manipulations.

About Bancfirst Corp Beneish M Score

M-Score is one of many grading techniques for value stocks. It was developed by Professor M. Daniel Beneish of the Kelley School of Business at Indiana University and published in 1999 under the paper titled The Detection of Earnings Manipulation. The Beneish score is a multi-factor model that utilizes financial identifiers to compile eight variables used to classify whether a company has manipulated its reported earnings. The variables are built from the officially filed financial statements to create a final score call 'M Score.' The score helps to identify companies that are likely to manipulate their profits if they show deteriorating gross margins, operating expenses, and leverage against growing revenue.

Depreciation Amortization and Accretion

18.29 Million

Share
Bancfirst Corp Depreciation Amortization and Accretion is projected to increase significantly based on the last few years of reporting. The past year's Depreciation Amortization and Accretion was at 20.04 Million

Bancfirst Corp Earnings Manipulation Drivers

Although earnings manipulation is typically not the result of intentional misconduct by the c-level executives, it is still a widespread practice by the senior management of public companies such as Bancfirst Corp. It is usually done by a series of misrepresentations of various accounting rules and operating activities across multiple financial cycles. The best way to spot the manipulation is to examine the historical financial statement to find inconsistencies in earning reports to find trends in assets or liabilities that are not sustainable in the future.
201720182019202020212022 (projected)
Revenues336.7 M381.87 M410.86 M381.24 M494.38 M449.53 M
Total Assets7.25 B7.57 B8.57 B9.21 B9.41 B9.16 B
Property Plant and Equipment Net134.09 M174.36 M206.28 M261.68 M269.05 M234.5 M
Depreciation Amortization and Accretion11.79 M13.55 M15.99 M18.42 M20.04 M18.29 M
Selling General and Administrative Expense149.78 M166.02 M180.12 M194.9 M199.34 M192.43 M
Total Liabilities6.48 B6.67 B7.56 B8.14 B8.23 B8.1 B
Operating Income136.31 M159.75 M169.56 M123.51 M208.4 M179.6 M
Net Cash Flow from Operations109.75 M140.01 M158.96 M154.34 M189.79 M163.01 M
Investments5.14 B5.7 B6.11 B6.91 B6.64 B6.43 B

About Bancfirst Corp Fundamental Analysis

The Macroaxis Fundamental Analysis modules help investors analyze Bancfirst Corp's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Bancfirst Corp using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Bancfirst Corp based on its fundamental data. In general, a quantitative approach, as applied to this company, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.
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. BancFirst Corporation was incorporated in 1984 and is headquartered in Oklahoma City, Oklahoma. Bancfirst Corp operates under BanksRegional classification in the United States and is traded on NASDAQ Exchange. It employs 1948 people.

Bancfirst Corp Investors Sentiment

The influence of Bancfirst Corp's investor sentiment on the probability of its price appreciation or decline could be a good factor in your decision-making process regarding taking a position in Bancfirst. The overall investor sentiment generally increases the direction of a stock movement in a one-year investment horizon. However, the impact of investor sentiment on the entire stock markets does not have a solid backing from leading economists and market statisticians.

Bancfirst Corp Implied Volatility

    
  25.4  
Bancfirst Corp's implied volatility exposes the market's sentiment of Bancfirst Corp stock's possible movements over time. However, it does not forecast the overall direction of its price. In a nutshell, if Bancfirst Corp's implied volatility is high, the market thinks the stock has potential for high price swings in either direction. On the other hand, the low implied volatility suggests that Bancfirst Corp stock will not fluctuate a lot when Bancfirst Corp's options are near their expiration.
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Bancfirst Corp in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Bancfirst Corp's short interest history, or implied volatility extrapolated from Bancfirst Corp options trading.

Current Sentiment - BANF

Bancfirst Corp Investor Sentiment

Most of Macroaxis users are currently bullish on Bancfirst Corp. What is your opinion about investing in Bancfirst Corp? Are you bullish or bearish?
Bullish
Bearish
98% Bullish
2% Bearish
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Pair Trading with Bancfirst Corp

One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Bancfirst Corp position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Bancfirst Corp will appreciate offsetting losses from the drop in the long position's value.

Bancfirst Corp Pair Correlation

Correlation Analysis For Direct Indexing and Tax-loss Harvesting

The ability to find closely correlated positions to Bancfirst Corp could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Bancfirst Corp when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Bancfirst Corp - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Bancfirst Corp to buy it.
The correlation of Bancfirst Corp is a statistical measure of how it moves in relation to other equities. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Bancfirst Corp moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Bancfirst Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Bancfirst Corp can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.
Pair CorrelationCorrelation Matching
Continue to Bancfirst Corp Piotroski F Score and Bancfirst Corp Altman Z Score analysis. Note that the Bancfirst Corp information on this page should be used as a complementary analysis to other Bancfirst Corp's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.

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When running Bancfirst Corp price analysis, check to measure Bancfirst Corp's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Bancfirst Corp is operating at the current time. Most of Bancfirst Corp's value examination focuses on studying past and present price action to predict the probability of Bancfirst Corp's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move Bancfirst Corp's price. Additionally, you may evaluate how the addition of Bancfirst Corp to your portfolios can decrease your overall portfolio volatility.
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Is Bancfirst Corp's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Bancfirst Corp. If investors know Bancfirst will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Bancfirst Corp listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
The market value of Bancfirst Corp is measured differently than its book value, which is the value of Bancfirst that is recorded on the company's balance sheet. Investors also form their own opinion of Bancfirst Corp's value that differs from its market value or its book value, called intrinsic value, which is Bancfirst Corp's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Bancfirst Corp's market value can be influenced by many factors that don't directly affect Bancfirst Corp's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Bancfirst Corp's value and its price as these two are different measures arrived at by different means. Investors typically determine Bancfirst Corp value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Bancfirst Corp's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.