BancFirst Corporation $BANF Holdings Boosted by SummerHaven Investment Management LLC

SummerHaven Investment Management LLC increased its stake in BancFirst Corporation (NASDAQ:BANF) by 1.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,961 shares of the bank’s stock after purchasing an additional 122 shares during the period. BancFirst accounts for 0.7% of SummerHaven Investment Management LLC’s portfolio, making the stock its 29th largest position. SummerHaven Investment Management LLC’s holdings in BancFirst were worth $1,108,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Principal Financial Group Inc. lifted its holdings in shares of BancFirst by 3.4% in the 1st quarter. Principal Financial Group Inc. now owns 108,842 shares of the bank’s stock worth $11,958,000 after purchasing an additional 3,594 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of BancFirst by 16.1% in the 1st quarter. Rhumbline Advisers now owns 72,677 shares of the bank’s stock worth $7,985,000 after purchasing an additional 10,088 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of BancFirst by 34,094.7% during the first quarter. GAMMA Investing LLC now owns 63,944 shares of the bank’s stock valued at $7,026,000 after buying an additional 63,757 shares during the last quarter. Public Sector Pension Investment Board raised its holdings in shares of BancFirst by 27.7% during the first quarter. Public Sector Pension Investment Board now owns 63,235 shares of the bank’s stock valued at $6,948,000 after buying an additional 13,704 shares during the last quarter. Finally, Nuveen LLC bought a new stake in shares of BancFirst during the first quarter valued at approximately $6,912,000. Institutional investors own 51.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on BANF shares. DA Davidson lifted their price target on BancFirst from $120.00 to $136.00 and gave the company a “neutral” rating in a report on Monday, July 21st. Zacks Research cut BancFirst from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 16th. Keefe, Bruyette & Woods lifted their price target on BancFirst from $123.00 to $132.00 and gave the company a “market perform” rating in a report on Friday, July 18th. Finally, Wall Street Zen upgraded shares of BancFirst from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $134.00.

Insider Activity

In other BancFirst news, Director F Ford Drummond sold 5,000 shares of BancFirst stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $126.29, for a total transaction of $631,450.00. Following the completion of the sale, the director owned 6,000 shares of the company’s stock, valued at $757,740. This trade represents a 45.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 32.43% of the stock is owned by company insiders.

BancFirst Trading Up 0.3%

NASDAQ BANF opened at $130.79 on Monday. BancFirst Corporation has a twelve month low of $97.02 and a twelve month high of $138.77. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market cap of $4.36 billion, a price-to-earnings ratio of 18.82 and a beta of 0.79. The firm’s 50 day moving average price is $129.11 and its two-hundred day moving average price is $122.67.

BancFirst (NASDAQ:BANF) last posted its quarterly earnings data on Thursday, July 17th. The bank reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.18. BancFirst had a net margin of 24.94% and a return on equity of 14.16%. The firm had revenue of $169.30 million for the quarter, compared to analysts’ expectations of $163.62 million. Equities analysts anticipate that BancFirst Corporation will post 6.52 EPS for the current year.

BancFirst Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.49 per share. This is an increase from BancFirst’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 1.5%. BancFirst’s dividend payout ratio (DPR) is 26.47%.

About BancFirst

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. The company operates through BancFirst Metropolitan Banks, BancFirst Community Banks, Pegasus, Worthington, and Other Financial Services segments.