Keefe, Bruyette & Woods Cuts BancFirst (NASDAQ:BANF) Price Target to $121.00

BancFirst (NASDAQ:BANF) had its target price lowered by equities research analysts at Keefe, Bruyette & Woods from $123.00 to $121.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 5.81% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. DA Davidson reaffirmed a “neutral” rating and set a $125.00 price objective on shares of BancFirst in a report on Friday, June 12th. Wall Street Zen upgraded BancFirst from a “sell” rating to a “hold” rating in a research note 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. Finally, Weiss Ratings cut BancFirst from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, BancFirst has a consensus rating of “Moderate Buy” and a consensus target price of $123.00.

BancFirst Stock Performance

BancFirst stock traded down $0.23 during mid-day trading on Wednesday, reaching $114.36. The company had a trading volume of 38,884 shares, compared to its average volume of 150,842. 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 50 day moving average of $113.36 and a 200-day moving average of $112.34. BancFirst has a 52 week low of $101.48 and a 52 week high of $138.77. The firm has a market cap of $3.84 billion, a price-to-earnings ratio of 15.40 and a beta of 0.61.

BancFirst (NASDAQ:BANF) last released its earnings results on Friday, July 24th. The bank reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.80 by $0.16. BancFirst had a return on equity of 13.64% and a net margin of 31.96%.The business had revenue of $187.49 million for the quarter, compared to the consensus estimate of $178.53 million. On average, sell-side analysts expect that BancFirst will post 7.67 EPS for the current fiscal year.

Insider Buying and Selling at BancFirst

In other news, Director David E. Rainbolt sold 81,492 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $116.71, for a total value of $9,510,931.32. Following the completion of the transaction, the director owned 55,551 shares of the company’s stock, valued at $6,483,357.21. The trade was a 59.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 162,278 shares of company stock worth $18,849,364 over the last quarter. Company insiders own 31.67% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. increased its position in shares of BancFirst by 108.6% during the first quarter. Advisors Asset Management Inc. now owns 559 shares of the bank’s stock worth $61,000 after acquiring an additional 291 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of BancFirst by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,844 shares of the bank’s stock valued at $1,301,000 after acquiring an additional 505 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in BancFirst by 8.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 46,396 shares of the bank’s stock valued at $5,098,000 after purchasing an additional 3,433 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of BancFirst during the 1st quarter worth approximately $3,646,000. Finally, Cetera Investment Advisers acquired a new stake in shares of BancFirst in the 2nd quarter valued at approximately $207,000. 51.72% of the stock is owned by institutional investors and hedge funds.

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.