NewEdge Wealth LLC Buys New Stake in BancFirst Corporation $BANF

NewEdge Wealth LLC purchased a new stake in shares of BancFirst Corporation (NASDAQ:BANF) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 16,788 shares of the bank’s stock, valued at approximately $1,866,000.

Other institutional investors have also made changes to their positions in the company. BlackRock Inc. bought a new stake in BancFirst during the 2nd quarter valued at approximately $356,054,000. State Street Corp increased its position 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 valued at $146,537,000 after purchasing an additional 96,957 shares during the period. Norges Bank bought a new stake in BancFirst in the 4th quarter valued at $27,723,000. Verition Fund Management LLC lifted its holdings in shares of BancFirst by 30.8% during the 4th quarter. Verition Fund Management LLC now owns 168,591 shares of the bank’s stock worth $17,874,000 after acquiring an additional 39,672 shares during the period. Finally, 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 valued at $20,676,000 after acquiring an additional 69,192 shares in the last quarter. 51.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling at BancFirst

In related 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 transaction of $9,510,931.32. Following the transaction, the director directly owned 55,551 shares in the company, valued at approximately $6,483,357.21. The trade was a 59.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 166,783 shares of company stock valued at $19,366,509 over the last three months. 31.67% of the stock is currently owned by company insiders.

BancFirst Stock Performance

Shares of BancFirst stock opened at $112.74 on Friday. The firm has a market cap of $3.79 billion, a price-to-earnings ratio of 15.21 and a beta of 0.61. The stock’s 50-day moving average is $114.13 and its 200-day moving average is $112.55. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.03 and a quick ratio of 1.02. BancFirst Corporation has a one year low of $101.48 and a one year high of $138.77.

BancFirst (NASDAQ:BANF) last released its quarterly earnings results on Thursday, July 23rd. 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 13.44% and a net margin of 25.61%.The firm had revenue of $187.49 million during the quarter, compared to the consensus estimate of $178.53 million. Equities analysts predict that BancFirst Corporation will post 7.67 earnings per share for the current fiscal year.

BancFirst Dividend Announcement

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

Wall Street Analysts Forecast Growth

BANF has been the topic of a number of analyst reports. Keefe, Bruyette & Woods lowered their price target on BancFirst from $123.00 to $121.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 5th. Weiss Ratings cut shares of BancFirst from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, July 16th. DA Davidson restated a “neutral” rating and set a $125.00 target price on shares of BancFirst in a research report on Friday, June 12th. Zacks Research raised BancFirst from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 27th. Finally, Wall Street Zen raised shares of BancFirst from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $123.00.

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.