BancFirst (NASDAQ:BANF) Issues Earnings Results, Beats Expectations By $0.16 EPS

BancFirst (NASDAQ:BANF) announced its earnings results on Thursday. The bank reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.16, Zacks reports. BancFirst had a net margin of 25.50% and a return on equity of 13.62%.

BancFirst Trading Down 0.4%

Shares of BANF stock traded down $0.46 on Thursday, reaching $114.90. 126,213 shares of the stock were exchanged, compared to its average volume of 150,096. The stock has a market cap of $3.86 billion, a P/E ratio of 15.74 and a beta of 0.59. 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 firm has a 50 day moving average of $112.54 and a two-hundred day moving average of $112.00. BancFirst has a 1-year low of $101.48 and a 1-year high of $138.77.

BancFirst Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Tuesday, June 30th. BancFirst’s dividend payout ratio is presently 26.85%.

Insiders Place Their Bets

In related news, Director David E. Rainbolt sold 24,614 shares of BancFirst stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $115.55, for a total value of $2,844,147.70. Following the transaction, the director owned 182,004 shares in the company, valued at approximately $21,030,562.20. This trade represents a 11.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 40,690 shares of company stock valued at $4,694,328 in the last 90 days. 31.67% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On BancFirst

Several hedge funds and other institutional investors have recently modified their holdings of the company. Advisors Asset Management Inc. grew its position in shares of BancFirst by 9.5% in the 4th quarter. Advisors Asset Management Inc. now owns 1,245 shares of the bank’s stock worth $132,000 after acquiring an additional 108 shares in the last quarter. Parkside Financial Bank & Trust raised its position in shares of BancFirst by 11.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,551 shares of the bank’s stock valued at $164,000 after acquiring an additional 165 shares in the last quarter. Quarry LP lifted its stake in BancFirst by 531.4% during the third quarter. Quarry LP now owns 221 shares of the bank’s stock worth $28,000 after purchasing an additional 186 shares during the last quarter. Alliancebernstein L.P. lifted its stake in BancFirst by 0.7% during the third quarter. Alliancebernstein L.P. now owns 26,071 shares of the bank’s stock worth $3,297,000 after purchasing an additional 190 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its holdings in BancFirst by 0.9% in the second quarter. CANADA LIFE ASSURANCE Co now owns 23,427 shares of the bank’s stock worth $2,897,000 after purchasing an additional 208 shares during the period. 51.72% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BANF has been the topic of several analyst reports. DA Davidson reaffirmed a “neutral” rating and set a $125.00 price target on shares of BancFirst in a research note on Friday, June 12th. Weiss Ratings lowered shares of BancFirst from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, July 16th. Four analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $124.00.

About BancFirst

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.