BidaskClub Upgrades BancFirst (NASDAQ:BANF) to Hold

BidaskClub upgraded shares of BancFirst (NASDAQ:BANF) from a sell rating to a hold rating in a research note issued to investors on Tuesday, BidAskClub reports.

A number of other research analysts have also issued reports on BANF. ValuEngine lowered shares of BancFirst from a hold rating to a sell rating in a research note on Wednesday, March 6th. Zacks Investment Research upgraded shares of BancFirst from a hold rating to a buy rating and set a $63.00 target price on the stock in a research note on Tuesday, April 23rd.

NASDAQ:BANF opened at $57.56 on Tuesday. BancFirst has a 1 year low of $48.07 and a 1 year high of $65.70. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $1.87 billion, a P/E ratio of 15.07, a PEG ratio of 2.10 and a beta of 0.83.

BancFirst (NASDAQ:BANF) last posted its earnings results on Thursday, April 18th. The bank reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. BancFirst had a net margin of 29.07% and a return on equity of 14.31%. The business had revenue of $98.90 million for the quarter, compared to analyst estimates of $98.50 million. Research analysts forecast that BancFirst will post 3.89 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a $0.30 dividend. The ex-dividend date is Thursday, June 27th. This represents a $1.20 dividend on an annualized basis and a yield of 2.08%. BancFirst’s payout ratio is presently 31.41%.

In other news, Director Ronald J. Norick bought 2,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were acquired at an average cost of $53.74 per share, for a total transaction of $107,480.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 38.27% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Migdal Insurance & Financial Holdings Ltd. bought a new stake in BancFirst in the 1st quarter valued at $34,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in BancFirst by 77.7% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,043 shares of the bank’s stock valued at $54,000 after purchasing an additional 456 shares during the period. Acadian Asset Management LLC bought a new stake in BancFirst in the 4th quarter valued at $61,000. SG Americas Securities LLC bought a new stake in BancFirst in the 1st quarter valued at $157,000. Finally, Meeder Asset Management Inc. boosted its holdings in BancFirst by 47.3% in the 1st quarter. Meeder Asset Management Inc. now owns 3,331 shares of the bank’s stock valued at $174,000 after purchasing an additional 1,070 shares during the period. Institutional investors and hedge funds own 34.04% of the company’s stock.

BancFirst Company Profile

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. It operates through Metropolitan Banks, Community Banks, and Other Financial Services segments. The company offers checking accounts, negotiable order of withdrawal accounts, savings accounts, money market accounts, sweep accounts, club accounts, individual retirement accounts, and certificates of deposit, as well as overdraft protection and auto draft services.

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