Plan Group Financial LLC Acquires New Shares in BancFirst Corporation $BANF

Plan Group Financial LLC acquired a new stake in BancFirst Corporation (NASDAQ:BANF) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 7,244 shares of the bank’s stock, valued at approximately $805,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. grew its position in shares of BancFirst by 108.6% during the 1st quarter. Advisors Asset Management Inc. now owns 559 shares of the bank’s stock worth $61,000 after buying an additional 291 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of BancFirst by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,844 shares of the bank’s stock valued at $1,301,000 after acquiring an additional 505 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of BancFirst by 8.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 46,396 shares of the bank’s stock valued at $5,098,000 after acquiring an additional 3,433 shares during the period. Jane Street Group LLC acquired a new stake in shares of BancFirst in the 1st quarter valued at approximately $3,646,000. Finally, Cetera Investment Advisers bought a new position in BancFirst during the 2nd quarter worth approximately $207,000. Institutional investors and hedge funds own 51.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on BANF shares. Weiss Ratings cut shares of BancFirst from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, July 16th. Wall Street Zen upgraded shares of BancFirst from a “sell” rating to a “hold” rating in a report on Saturday, July 25th. Zacks Research raised shares of BancFirst from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. DA Davidson reissued a “neutral” rating and set a $125.00 price target on shares of BancFirst in a research report on Friday, June 12th. Finally, Keefe, Bruyette & Woods decreased their price target 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. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.00.

Insiders Place Their Bets

In other news, Director David E. Rainbolt sold 81,492 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $116.71, for a total value of $9,510,931.32. Following the completion of the transaction, the director owned 55,551 shares in the company, valued at $6,483,357.21. This represents a 59.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 166,783 shares of company stock valued at $19,366,509 over the last 90 days. Insiders own 31.67% of the company’s stock.

BancFirst Trading Up 0.0%

NASDAQ BANF opened at $115.72 on Friday. BancFirst Corporation has a one year low of $101.48 and a one year high of $138.77. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.03 and a quick ratio of 1.04. The firm has a market cap of $3.89 billion, a P/E ratio of 15.62 and a beta of 0.61. The stock’s 50-day moving average is $114.05 and its 200-day moving average is $112.38.

BancFirst (NASDAQ:BANF) last issued its quarterly earnings data on Thursday, July 23rd. The bank reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.16. BancFirst had a return on equity of 13.44% and a net margin of 25.61%.The business had revenue of $187.49 million during the quarter, compared to analyst estimates of $178.53 million. Sell-side analysts anticipate 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. Shareholders of record on Tuesday, June 30th were paid a $0.49 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.96 dividend on an annualized basis and a yield of 1.7%. BancFirst’s payout ratio is presently 26.45%.

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.