David Rainbolt Sells 11,497 Shares of BancFirst (NASDAQ:BANF) Stock

BancFirst Corporation (NASDAQ:BANF) Director David Rainbolt sold 11,497 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $115.09, for a total transaction of $1,323,189.73. Following the sale, the director directly owned 31,336 shares in the company, valued at $3,606,460.24. This represents a 26.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

BancFirst Trading Down 0.4%

Shares of BANF stock opened at $114.12 on Thursday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market capitalization of $3.83 billion, a P/E ratio of 15.40 and a beta of 0.61. The company has a 50 day moving average price of $113.43 and a 200 day moving average price of $112.34. BancFirst Corporation has a fifty-two week low of $101.48 and a fifty-two week high of $138.77.

BancFirst (NASDAQ:BANF) last announced its earnings results on Friday, July 24th. The bank reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.80 by $0.16. The firm had revenue of $187.49 million for the quarter, compared to the consensus estimate of $178.53 million. BancFirst had a net margin of 31.96% and a return on equity of 13.64%. Equities research analysts predict that BancFirst Corporation will post 7.67 EPS for the current fiscal year.

BancFirst Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders 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 annualized dividend and a dividend yield of 1.7%. BancFirst’s payout ratio is 26.45%.

Institutional Investors Weigh In On BancFirst

A number of large investors have recently modified their holdings of the company. Norges Bank purchased a new position in BancFirst in the fourth quarter valued at $27,723,000. State Street Corp lifted its holdings in BancFirst by 7.6% during the 4th 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 during the last quarter. Millennium Management LLC acquired a new position in shares of BancFirst during the 4th quarter worth about $8,316,000. Invesco Ltd. boosted its position in shares of BancFirst by 73.4% during the 3rd quarter. Invesco Ltd. now owns 163,512 shares of the bank’s stock worth $20,676,000 after acquiring an additional 69,192 shares in the last quarter. Finally, Verition Fund Management LLC increased 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 valued at $17,874,000 after acquiring an additional 39,672 shares during the last quarter. 51.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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.