BancFirst (NASDAQ:BANF) Stock Rating Lowered by Zacks Research

BancFirst (NASDAQ:BANF) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other research analysts have also recently commented on BANF. DA Davidson restated a “neutral” rating and issued a $125.00 target price on shares of BancFirst in a research note on Friday, June 12th. Wall Street Zen raised BancFirst from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. Keefe, Bruyette & Woods decreased their price objective on BancFirst from $123.00 to $121.00 and set a “market perform” rating for the company in a report on Wednesday, August 5th. Finally, Weiss Ratings lowered BancFirst from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, July 16th. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $123.00.

BancFirst Stock Performance

Shares of BANF opened at $111.80 on Tuesday. 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 has a one year low of $101.48 and a one year high of $138.77. The company has a 50-day simple moving average of $114.01 and a two-hundred day simple moving average of $112.48. The firm has a market capitalization of $3.76 billion, a PE ratio of 15.09 and a beta of 0.61.

BancFirst (NASDAQ:BANF) last posted its quarterly earnings data on Thursday, July 23rd. The bank reported $1.96 earnings per share 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 for the quarter, compared to analysts’ expectations of $178.53 million. On average, analysts anticipate that BancFirst will post 7.67 EPS for the current fiscal year.

Insider Activity at BancFirst

In related news, Director David E. Rainbolt sold 8,506 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $115.00, for a total value of $978,190.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders sold 166,783 shares of company stock valued at $19,366,509. Insiders own 31.67% of the company’s stock.

Institutional Investors Weigh In On BancFirst

Several hedge funds have recently added to or reduced their stakes in BANF. Quarry LP grew its position in BancFirst by 531.4% during the 3rd quarter. Quarry LP now owns 221 shares of the bank’s stock valued at $28,000 after purchasing an additional 186 shares during the last quarter. Allworth Financial LP bought a new position in shares of BancFirst in the second quarter worth approximately $33,000. Pinnacle Holdings LLC bought a new position in BancFirst in the 2nd quarter valued at approximately $40,000. Kestra Advisory Services LLC bought a new position in shares of BancFirst during the fourth quarter valued at $41,000. Finally, EverSource Wealth Advisors LLC lifted its stake in BancFirst by 957.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 402 shares of the bank’s stock valued at $50,000 after acquiring an additional 364 shares during the period. 51.72% of the stock is owned by institutional investors.

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.