Is BancFirst Corp. (Oklahoma) overvalued or undervalued?

As of 17 October 2025, BancFirst Corp. (Oklahoma) has moved from fair to expensive in its valuation grade. The company appears to be overvalued, given its P/E ratio of 18, which is higher than peers like Wintrust Financial Corp. at 12.91 and Columbia Banking System, Inc. at 13.84. Additionally, BancFirst's Price to Book Value stands at 2.45, and its PEG Ratio is 2.43, indicating that the stock may not be justified at its current price level.
In terms of performance, BancFirst has underperformed compared to the S&P 500 across multiple time frames, with a year-to-date return of -3.63% versus the index's 13.30%. Over the past three years, while BancFirst has gained 22.39%, it still lags significantly behind the S&P 500's 81.19% return. This trend reinforces the notion that BancFirst Corp. is currently overvalued relative to its performance and peer group.