BancFirst (NASDAQ:BANF) Director David Rainbolt Sells 2,000 Shares of Stock

BancFirst Corporation (NASDAQ:BANF) Director David Rainbolt sold 2,000 shares of the business’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $115.03, for a total transaction of $230,060.00. Following the completion of the transaction, the director directly owned 11,506 shares in the company, valued at $1,323,535.18. This represents a 14.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

BancFirst Stock Down 0.7%

Shares of BancFirst stock opened at $113.33 on Friday. BancFirst Corporation has a one year low of $101.48 and a one year high of $138.77. The company has a market cap of $3.81 billion, a P/E ratio of 15.29 and a beta of 0.61. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a fifty day moving average of $113.49 and a two-hundred day moving average of $112.34.

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

BancFirst Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on BANF shares. Wall Street Zen upgraded BancFirst from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. Weiss Ratings cut 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 target price on shares of BancFirst in a report on Friday, June 12th. Zacks Research upgraded shares of BancFirst from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of BancFirst from $123.00 to $121.00 and set a “market perform” rating on the stock in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $123.00.

Institutional Investors Weigh In On BancFirst

Hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of BancFirst during the 4th quarter worth approximately $27,723,000. Bank of New York Mellon Corp purchased a new position in BancFirst in the 2nd quarter valued at approximately $17,920,000. State Street Corp raised its holdings in BancFirst by 7.6% during the fourth quarter. State Street Corp now owns 1,375,873 shares of the bank’s stock worth $146,537,000 after purchasing an additional 96,957 shares during the last quarter. Millennium Management LLC purchased a new stake in BancFirst during the fourth quarter worth $8,316,000. Finally, Invesco Ltd. boosted its position in BancFirst by 73.4% during the third quarter. Invesco Ltd. now owns 163,512 shares of the bank’s stock worth $20,676,000 after purchasing an additional 69,192 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.