BancFirst (BANF) Rating Lowered to Hold at Zacks Investment Research

BancFirst (NASDAQ:BANF) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

According to Zacks, “BancFirst Corporation is a bank holding company for BancFirst. BancFirst Corporation also owns 100% of the common securities of BFC Capital Trust I, and First State Bank. BancFirst’s strategy focuses on providing a full range of commercial banking services to retail customers and small to medium-sized businesses both in the non-metropolitan trade centers and the metropolitan markets. BancFirst operates as a super community bank, managing their community banking offices on a decentralized basis, which permits them to be responsive to local customer needs. “

A number of other research firms also recently issued reports on BANF. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $60.00 target price on shares of BancFirst in a research report on Friday, April 20th. ValuEngine upgraded BancFirst from a “sell” rating to a “hold” rating in a research report on Wednesday, May 2nd. Finally, BidaskClub upgraded BancFirst from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 7th.

NASDAQ:BANF opened at $62.10 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.02 and a quick ratio of 1.02. BancFirst has a 1 year low of $46.78 and a 1 year high of $63.55. The firm has a market capitalization of $2.05 billion, a price-to-earnings ratio of 21.04, a PEG ratio of 1.77 and a beta of 0.70.

BancFirst (NASDAQ:BANF) last released its earnings results on Thursday, April 19th. The bank reported $0.95 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.13. BancFirst had a return on equity of 12.56% and a net margin of 24.74%. The business had revenue of $93.15 million during the quarter, compared to the consensus estimate of $90.57 million. equities research analysts predict that BancFirst will post 3.54 EPS for the current fiscal year.

In related news, major shareholder Banking Ltd Ptnrshp R sold 37,470 shares of the business’s stock in a transaction dated Friday, April 20th. The stock was sold at an average price of $56.34, for a total transaction of $2,111,059.80. Following the completion of the transaction, the insider now directly owns 10,715,000 shares in the company, valued at $603,683,100. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Ken Starks sold 3,000 shares of the business’s stock in a transaction dated Wednesday, June 6th. The stock was sold at an average price of $62.38, for a total value of $187,140.00. Following the transaction, the insider now owns 3,000 shares of the company’s stock, valued at $187,140. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,470 shares of company stock valued at $2,879,850. 42.32% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of BANF. Millennium Management LLC purchased a new position in BancFirst during the first quarter worth about $9,751,000. Maltese Capital Management LLC lifted its stake in BancFirst by 700.0% during the first quarter. Maltese Capital Management LLC now owns 80,000 shares of the bank’s stock worth $4,248,000 after purchasing an additional 70,000 shares during the last quarter. Arvest Bank Trust Division bought a new stake in BancFirst during the first quarter worth about $2,901,000. BlackRock Inc. lifted its stake in BancFirst by 2.1% during the fourth quarter. BlackRock Inc. now owns 1,131,701 shares of the bank’s stock worth $57,888,000 after purchasing an additional 22,802 shares during the last quarter. Finally, Deutsche Bank AG lifted its stake in BancFirst by 134.7% during the fourth quarter. Deutsche Bank AG now owns 38,908 shares of the bank’s stock worth $1,988,000 after purchasing an additional 22,327 shares during the last quarter. Institutional investors and hedge funds own 32.60% of the company’s stock.

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. 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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