Insider Selling: BancFirst (NASDAQ:BANF) Director Sells 81,492 Shares of Stock

BancFirst Corporation (NASDAQ:BANF) Director David Rainbolt sold 81,492 shares of BancFirst stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $116.71, for a total transaction of $9,510,931.32. Following the completion of the sale, the director owned 55,551 shares of the company’s stock, valued at $6,483,357.21. This trade represents a 59.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

BancFirst Stock Performance

NASDAQ:BANF traded down $1.19 during trading hours on Wednesday, hitting $114.53. 30,733 shares of the company were exchanged, compared to its average volume of 150,680. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.04 and a quick ratio of 1.04. BancFirst Corporation has a 52-week low of $101.48 and a 52-week high of $138.77. The stock has a market capitalization of $3.85 billion, a price-to-earnings ratio of 15.44 and a beta of 0.59. The company’s 50 day moving average price is $113.17 and its 200-day moving average price is $112.23.

BancFirst (NASDAQ:BANF) last posted its quarterly earnings results on Friday, July 24th. The bank reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.80 by $0.16. BancFirst had a net margin of 31.96% and a return on equity of 13.64%. The business had revenue of $187.49 million during the quarter, compared to analysts’ expectations of $178.53 million. As a group, research analysts forecast that BancFirst Corporation will post 7.55 earnings per share for the current year.

BancFirst Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a $0.49 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $1.96 dividend on an annualized basis and a yield of 1.7%. BancFirst’s dividend payout ratio (DPR) is 26.45%.

Institutional Investors Weigh In On BancFirst

A number of hedge funds and other institutional investors have recently bought and sold shares of BANF. SG Americas Securities LLC lifted its holdings in shares of BancFirst by 1,012.1% in the fourth quarter. SG Americas Securities LLC now owns 11,722 shares of the bank’s stock valued at $1,243,000 after purchasing an additional 10,668 shares in the last quarter. Fifth Third Bancorp lifted its stake in BancFirst by 16,173.1% in the 1st quarter. Fifth Third Bancorp now owns 12,693 shares of the bank’s stock valued at $1,377,000 after buying an additional 12,615 shares in the last quarter. Norges Bank acquired a new stake in BancFirst during the 4th quarter valued at $27,723,000. Verition Fund Management LLC increased its position in BancFirst by 30.8% during the fourth quarter. Verition Fund Management LLC now owns 168,591 shares of the bank’s stock worth $17,874,000 after buying an additional 39,672 shares in the last quarter. Finally, Plan Group Financial LLC acquired a new position in shares of BancFirst in the fourth quarter worth $768,000. Institutional investors and hedge funds own 51.72% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on BANF shares. DA Davidson reiterated a “neutral” rating and set a $125.00 price target on shares of BancFirst in a research note on Friday, June 12th. Wall Street Zen raised BancFirst from a “sell” rating to a “hold” rating in a report on Saturday. Weiss Ratings lowered BancFirst from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, July 16th. Finally, Zacks Research raised shares of BancFirst from a “hold” rating to a “strong-buy” rating in a research report on Monday. One analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $124.00.

BancFirst Company Profile

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.