David Rainbolt Sells 2,000 Shares of BancFirst (NASDAQ:BANF) Stock

BancFirst Corporation (NASDAQ:BANFGet Free Report) Director David Rainbolt sold 2,000 shares of the company’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $115.03, for a total transaction of $230,060.00. Following the completion of the sale, the director owned 11,506 shares of the company’s stock, valued at approximately $1,323,535.18. The trade was a 14.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

BancFirst Stock Down 0.1%

BANF stock traded down $0.09 during trading on Thursday, reaching $114.03. The stock had a trading volume of 68,885 shares, compared to its average volume of 150,709. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $3.83 billion, a price-to-earnings ratio of 15.39 and a beta of 0.61. BancFirst Corporation has a one year low of $101.48 and a one year high of $138.77. The company’s 50 day moving average is $113.43 and its two-hundred day moving average is $112.34.

BancFirst (NASDAQ:BANFGet Free Report) last released its earnings results on Friday, July 24th. The bank reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.16. The company had revenue of $187.49 million during the quarter, compared to analyst estimates of $178.53 million. BancFirst had a return on equity of 13.64% and a net margin of 31.96%. Equities research analysts forecast that BancFirst Corporation will post 7.67 EPS for the current year.

BancFirst Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a $0.49 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.96 annualized dividend and a yield of 1.7%. BancFirst’s payout ratio is currently 26.45%.

Hedge Funds Weigh In On BancFirst

A number of large investors have recently modified their holdings of the company. State Street Corp boosted its stake in BancFirst by 7.6% in the fourth quarter. State Street Corp now owns 1,375,873 shares of the bank’s stock worth $146,537,000 after buying an additional 96,957 shares in the last quarter. Norges Bank bought a new stake in shares of BancFirst in the 4th quarter worth approximately $27,723,000. Verition Fund Management LLC lifted its holdings in shares of BancFirst by 30.8% in the 4th quarter. Verition Fund Management LLC now owns 168,591 shares of the bank’s stock worth $17,874,000 after acquiring an additional 39,672 shares during the last quarter. Invesco Ltd. boosted its stake in shares of BancFirst by 73.4% in the 3rd quarter. Invesco Ltd. now owns 163,512 shares of the bank’s stock valued at $20,676,000 after purchasing an additional 69,192 shares in the last quarter. Finally, Raymond James Financial Inc. boosted its stake in shares of BancFirst by 33.5% in the 3rd quarter. Raymond James Financial Inc. now owns 134,175 shares of the bank’s stock valued at $16,966,000 after purchasing an additional 33,636 shares in the last quarter. 51.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Wall Street Zen raised BancFirst from a “sell” rating to a “hold” rating in a report on Saturday, July 25th. Zacks Research raised shares of BancFirst from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. Keefe, Bruyette & Woods reduced their target price on shares of BancFirst from $123.00 to $121.00 and set a “market perform” rating for the company in a research note on Wednesday. DA Davidson reaffirmed a “neutral” rating and issued a $125.00 price objective on shares of BancFirst in a report on Friday, June 12th. Finally, Weiss Ratings lowered shares of BancFirst from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $123.00.

Check Out Our Latest Stock Report on BANF

About BancFirst

(Get Free Report)

BancFirst Corporation is a regional banking holding company based in Oklahoma City, Oklahoma. As the largest state‐chartered bank in Oklahoma, BancFirst offers a comprehensive suite of financial services to individuals, businesses and government entities. Its core business activities include commercial and consumer banking, mortgage lending, treasury management, equipment financing and electronic banking solutions.

The bank operates a network of more than 60 branches across Oklahoma, serving urban centers such as Oklahoma City and Tulsa, as well as rural communities throughout the state.

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