BancFirst (NASDAQ:BANF) Downgraded by Zacks Research to “Hold”

BancFirst (NASDAQ:BANFGet Free Report) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Other equities analysts also recently issued reports about the stock. DA Davidson reissued a “neutral” rating and issued a $125.00 price target on shares of BancFirst in a report on Friday, June 12th. Keefe, Bruyette & Woods reduced their price target on BancFirst from $123.00 to $121.00 and set a “market perform” rating for the company in a research report on Wednesday, August 5th. Weiss Ratings cut shares of BancFirst from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, July 16th. Finally, Wall Street Zen raised BancFirst from a “sell” rating to a “hold” rating in a report on Saturday, July 25th. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, BancFirst has a consensus rating of “Hold” and a consensus price target of $123.00.

Read Our Latest Report on BANF

BancFirst Trading Up 0.6%

NASDAQ:BANF opened at $111.80 on Tuesday. BancFirst has a 52 week low of $101.48 and a 52 week high of $138.77. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.02 and a current ratio of 1.03. The firm’s fifty day moving average is $114.01 and its 200-day moving average is $112.48. The firm has a market cap of $3.76 billion, a P/E ratio of 15.09 and a beta of 0.61.

BancFirst (NASDAQ:BANFGet Free Report) last announced its earnings results on Thursday, July 23rd. The bank reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.80 by $0.16. The business had revenue of $187.49 million during the quarter, compared to the consensus estimate of $178.53 million. BancFirst had a net margin of 25.61% and a return on equity of 13.44%. Equities analysts expect that BancFirst will post 7.67 earnings per share for the current year.

Insider Transactions at BancFirst

In other news, Director David E. Rainbolt sold 8,506 shares of the company’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $115.00, for a total value of $978,190.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 166,783 shares of company stock worth $19,366,509 over the last three months. Insiders own 31.67% of the company’s stock.

Hedge Funds Weigh In On BancFirst

Several institutional investors and hedge funds have recently made changes to their positions in the business. Quarry LP boosted its position in BancFirst by 531.4% during the third quarter. Quarry LP now owns 221 shares of the bank’s stock valued at $28,000 after buying an additional 186 shares during the period. Allworth Financial LP bought a new position in shares of BancFirst in the second quarter worth approximately $33,000. Pinnacle Holdings LLC purchased a new position in shares of BancFirst in the second quarter worth $40,000. Kestra Advisory Services LLC purchased a new position in shares of BancFirst in the fourth quarter worth $41,000. Finally, EverSource Wealth Advisors LLC raised its holdings in BancFirst by 957.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 402 shares of the bank’s stock valued at $50,000 after buying an additional 364 shares during the last quarter. Institutional investors own 51.72% of the company’s stock.

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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