BancFirst (NASDAQ:BANF) Director David Rainbolt Sells 3,000 Shares

BancFirst Corporation (NASDAQ:BANF) Director David Rainbolt sold 3,000 shares of the company’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $115.00, for a total value of $345,000.00. Following the completion of the transaction, the director directly owned 8,506 shares in the company, valued at approximately $978,190. This trade represents a 26.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

BancFirst Stock Down 0.7%

Shares of NASDAQ:BANF opened at $113.33 on Friday. The company has a market capitalization of $3.81 billion, a price-to-earnings ratio of 15.29 and a beta of 0.61. BancFirst Corporation has a 12-month low of $101.48 and a 12-month high of $138.77. The business has a 50-day moving average price of $113.49 and a 200 day moving average price of $112.34. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.05.

BancFirst (NASDAQ:BANF) last posted its earnings results on Friday, July 24th. The bank reported $1.96 EPS for the quarter, beating 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 company had revenue of $187.49 million for the quarter, compared to analysts’ expectations of $178.53 million. Sell-side analysts expect that BancFirst Corporation will post 7.67 EPS for the current year.

BancFirst Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on BANF shares. Keefe, Bruyette & Woods decreased their price target on BancFirst from $123.00 to $121.00 and set a “market perform” rating on the stock in a research note on Wednesday. Wall Street Zen raised BancFirst from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. DA Davidson reissued a “neutral” rating and set a $125.00 target price on shares of BancFirst in a research note on Friday, June 12th. Zacks Research raised BancFirst from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. Finally, Weiss Ratings lowered shares of BancFirst from a “buy (b-)” rating to a “hold (c+)” rating in a research note 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 stock. According to MarketBeat, BancFirst currently has a consensus rating of “Moderate Buy” and an average target price of $123.00.

Hedge Funds Weigh In On BancFirst

Several institutional investors have recently modified their holdings of BANF. Norges Bank acquired a new stake in BancFirst in the fourth quarter valued at approximately $27,723,000. Bank of New York Mellon Corp acquired a new stake in shares of BancFirst in the 2nd quarter valued at $17,920,000. State Street Corp raised its holdings in shares of BancFirst by 7.6% in the 4th quarter. State Street Corp now owns 1,375,873 shares of the bank’s stock valued at $146,537,000 after purchasing an additional 96,957 shares in the last quarter. Millennium Management LLC purchased a new stake in shares of BancFirst during the 4th quarter worth $8,316,000. Finally, Invesco Ltd. lifted 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 purchasing an additional 69,192 shares during the last quarter. Institutional investors and hedge funds own 51.72% of the company’s stock.

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.