BancFirst (NASDAQ:BANF) Rating Lowered to Strong Sell at ValuEngine

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ValuEngine downgraded shares of BancFirst (NASDAQ:BANF) from a sell rating to a strong sell rating in a report issued on Monday morning, ValuEngine reports.

Several other research analysts have also issued reports on BANF. BidaskClub upgraded shares of BancFirst from a strong sell rating to a sell rating in a report on Thursday, September 12th. Zacks Investment Research upgraded shares of BancFirst from a hold rating to a buy rating and set a $60.00 price target for the company in a report on Friday, September 6th. Finally, Sandler O’Neill started coverage on shares of BancFirst in a report on Wednesday, August 14th. They set a hold rating for the company.

BancFirst stock opened at $57.65 on Monday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.04 and a current ratio of 1.04. BancFirst has a 52-week low of $48.07 and a 52-week high of $63.30. The firm has a 50 day moving average price of $54.85 and a two-hundred day moving average price of $55.25. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of 15.09, a PEG ratio of 2.08 and a beta of 0.85.

BancFirst (NASDAQ:BANF) last released its quarterly earnings results on Thursday, July 18th. The bank reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.09. BancFirst had a net margin of 29.12% and a return on equity of 14.34%. The firm had revenue of $102.87 million during the quarter, compared to analyst estimates of $99.79 million. As a group, equities research analysts predict that BancFirst will post 3.99 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.32 per share. This is a positive change from BancFirst’s previous quarterly dividend of $0.30. The ex-dividend date is Friday, September 27th. This represents a $1.28 annualized dividend and a yield of 2.22%. BancFirst’s dividend payout ratio (DPR) is presently 31.41%.

In other BancFirst news, EVP Darryl Schmidt sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $55.05, for a total transaction of $220,200.00. Following the completion of the transaction, the executive vice president now owns 11,000 shares in the company, valued at approximately $605,550. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ronald J. Norick acquired 2,000 shares of BancFirst stock in a transaction dated Thursday, August 15th. The shares were bought at an average cost of $53.00 per share, with a total value of $106,000.00. The disclosure for this purchase can be found here. 38.27% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in the company. Parametric Portfolio Associates LLC grew its position in shares of BancFirst by 1.0% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 28,313 shares of the bank’s stock worth $1,576,000 after buying an additional 279 shares during the period. Burney Co. grew its position in shares of BancFirst by 7.6% during the 1st quarter. Burney Co. now owns 5,677 shares of the bank’s stock worth $296,000 after buying an additional 402 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of BancFirst by 77.7% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,043 shares of the bank’s stock worth $54,000 after buying an additional 456 shares during the period. Virginia Retirement Systems ET AL grew its position in shares of BancFirst by 9.3% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 9,400 shares of the bank’s stock worth $523,000 after buying an additional 800 shares during the period. Finally, Quantamental Technologies LLC acquired a new stake in shares of BancFirst during the 2nd quarter worth approximately $47,000. 34.25% of the stock is owned by institutional investors.

About BancFirst

BancFirst Corporation operates as the bank holding company for BancFirst that provides a range of commercial banking services to retail customers, and small to medium-sized businesses. It operates through Metropolitan Banks, Community Banks, and Other Financial Services segments. The company offers checking accounts, negotiable order of withdrawal accounts, savings accounts, money market accounts, sweep accounts, club accounts, individual retirement accounts, and certificates of deposit, as well as overdraft protection and auto draft services.

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