BancFirst (NASDAQ:BANF) Price Target Lowered to $121.00 at Keefe, Bruyette & Woods

BancFirst (NASDAQ:BANF) had its price target cut by equities research analysts at Keefe, Bruyette & Woods from $123.00 to $121.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 5.81% from the company’s current price.

Several other research firms have also issued reports on BANF. Weiss Ratings lowered shares of BancFirst from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, July 16th. DA Davidson reissued a “neutral” rating and issued a $125.00 price target on shares of BancFirst in a report on Friday, June 12th. Zacks Research raised shares of BancFirst from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. Finally, Wall Street Zen raised BancFirst from a “sell” rating to a “hold” rating in a report on Saturday, July 25th. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.00.

BancFirst Trading Down 0.2%

NASDAQ:BANF traded down $0.23 during mid-day trading on Wednesday, reaching $114.36. The company’s stock had a trading volume of 38,884 shares, compared to its average volume of 150,842. The stock has a market cap of $3.84 billion, a P/E ratio of 15.40 and a beta of 0.61. BancFirst has a twelve month low of $101.48 and a twelve month high of $138.77. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.04 and a quick ratio of 1.04. The company’s fifty day simple moving average is $113.36 and its two-hundred day simple moving average is $112.34.

BancFirst (NASDAQ:BANF) last released its earnings results on Friday, July 24th. The bank reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.80 by $0.16. BancFirst had a net margin of 31.96% and a return on equity of 13.64%. The firm had revenue of $187.49 million during the quarter, compared to the consensus estimate of $178.53 million. On average, equities analysts predict that BancFirst will post 7.67 EPS for the current year.

Insiders Place Their Bets

In related news, Director David E. Rainbolt sold 17,830 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $115.06, for a total value of $2,051,519.80. Following the completion of the transaction, the director owned 13,506 shares in the company, valued at $1,554,000.36. This represents a 56.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have sold a total of 162,278 shares of company stock valued at $18,849,364 over the last three months. Corporate insiders own 31.67% of the company’s stock.

Hedge Funds Weigh In On BancFirst

Several hedge funds have recently modified their holdings of BANF. Norges Bank acquired a new position in shares of BancFirst in the 4th quarter worth approximately $27,723,000. State Street Corp boosted its position in BancFirst by 7.6% during the 4th quarter. State Street Corp now owns 1,375,873 shares of the bank’s stock worth $146,537,000 after acquiring an additional 96,957 shares during the period. Millennium Management LLC acquired a new stake in shares of BancFirst during the fourth quarter worth approximately $8,316,000. Invesco Ltd. grew its holdings 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. Finally, Verition Fund Management LLC grew its stake in BancFirst by 30.8% in the fourth quarter. Verition Fund Management LLC now owns 168,591 shares of the bank’s stock valued at $17,874,000 after purchasing an additional 39,672 shares in the last quarter. 51.72% of the stock is currently owned by institutional investors and hedge funds.

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.