The Manufacturers Life Insurance Company Takes Position in BancFirst Corporation $BANF

The Manufacturers Life Insurance Company purchased a new stake in BancFirst Corporation (NASDAQ:BANF) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 10,972 shares of the bank’s stock, valued at approximately $1,219,000.

Several other institutional investors have also recently bought and sold shares of the stock. Quarry LP lifted its holdings in BancFirst by 531.4% during the 3rd quarter. Quarry LP now owns 221 shares of the bank’s stock worth $28,000 after buying an additional 186 shares in the last quarter. Allworth Financial LP bought a new stake in shares of BancFirst during the second quarter worth $33,000. Pinnacle Holdings LLC bought a new stake in shares of BancFirst during the second quarter worth $40,000. Kestra Advisory Services LLC acquired a new position in shares of BancFirst during the fourth quarter valued at $41,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of BancFirst by 957.9% during the second 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. Institutional investors own 51.72% of the company’s stock.

Insider Transactions at BancFirst

In other BancFirst news, Director David Rainbolt sold 81,492 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $116.71, for a total transaction of $9,510,931.32. Following the transaction, the director owned 55,551 shares in the company, valued at approximately $6,483,357.21. This trade represents a 59.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 166,783 shares of company stock worth $19,366,509 in the last quarter. 31.67% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on BANF. DA Davidson reiterated a “neutral” rating and issued a $125.00 price target on shares of BancFirst in a report on Friday, June 12th. Keefe, Bruyette & Woods dropped 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. Wall Street Zen upgraded shares of BancFirst from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. Weiss Ratings lowered shares of BancFirst from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, July 16th. Finally, Zacks Research cut shares of BancFirst from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 25th. Four analysts have rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $123.00.

BancFirst Stock Performance

BANF stock opened at $112.89 on Friday. BancFirst Corporation has a twelve month low of $101.48 and a twelve month high of $138.77. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.04. The company has a market cap of $3.79 billion, a P/E ratio of 15.23 and a beta of 0.60. The business’s fifty day moving average is $113.72 and its 200-day moving average is $112.14.

BancFirst (NASDAQ:BANF) last announced its quarterly earnings data on Thursday, July 23rd. The bank reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.80 by $0.16. The business had revenue of $187.49 million during the quarter, compared to analysts’ expectations of $178.53 million. BancFirst had a return on equity of 13.44% and a net margin of 25.61%. Equities research analysts forecast that BancFirst Corporation will post 7.67 EPS for the current year.

BancFirst 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.