Plan Group Financial LLC Purchases Shares of 7,244 BancFirst Corporation $BANF

Plan Group Financial LLC purchased a new stake in BancFirst Corporation (NASDAQ:BANF) during the second quarter, HoldingsChannel reports. The institutional investor purchased 7,244 shares of the bank’s stock, valued at approximately $805,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. State Street Corp grew its holdings in shares of BancFirst by 7.6% during the fourth 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 in the last quarter. Norges Bank bought a new stake in BancFirst in the 4th quarter valued at approximately $27,723,000. Verition Fund Management LLC lifted its stake in 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 in the last quarter. Invesco Ltd. lifted its stake in BancFirst by 73.4% in the 3rd quarter. Invesco Ltd. now owns 163,512 shares of the bank’s stock valued at $20,676,000 after acquiring an additional 69,192 shares in the last quarter. Finally, Raymond James Financial Inc. boosted its position in BancFirst by 33.5% during the 3rd quarter. Raymond James Financial Inc. now owns 134,175 shares of the bank’s stock worth $16,966,000 after acquiring an additional 33,636 shares during the last quarter. 51.72% of the stock is owned by institutional investors and hedge funds.

BancFirst Stock Performance

BANF opened at $115.72 on Friday. The business’s 50-day simple moving average is $114.05 and its 200 day simple moving average is $112.38. BancFirst Corporation 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 1.04 and a current ratio of 1.03. The firm has a market capitalization of $3.89 billion, a PE ratio of 15.62 and a beta of 0.61.

BancFirst (NASDAQ:BANF) last posted its quarterly earnings results on Thursday, July 23rd. The bank reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.80 by $0.16. The firm had revenue of $187.49 million during the quarter, compared to the consensus estimate of $178.53 million. BancFirst had a return on equity of 13.44% and a net margin of 25.61%. As a group, sell-side analysts expect that BancFirst Corporation will post 7.67 earnings per share for the current fiscal year.

BancFirst Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.49 per share. The ex-dividend date was Tuesday, June 30th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 1.7%. BancFirst’s dividend payout ratio is currently 26.45%.

Insider Activity at BancFirst

In other news, Director David E. Rainbolt sold 8,506 shares of the stock in a transaction that occurred on 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders sold 166,783 shares of company stock valued at $19,366,509. Corporate insiders own 31.67% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BANF. Wall Street Zen raised shares of BancFirst from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. DA Davidson reissued a “neutral” rating and issued a $125.00 price objective on shares of BancFirst in a research report on Friday, June 12th. Keefe, Bruyette & Woods reduced their target price on shares of BancFirst from $123.00 to $121.00 and set a “market perform” rating for the company in a report on Wednesday, August 5th. Zacks Research upgraded shares of BancFirst from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. Finally, Weiss Ratings downgraded shares of BancFirst from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price 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.