BancFirst Corporation (BANF) Reaches New 1-Year High After Strong Earnings

BancFirst Corporation (NASDAQ:BANF) reached a new 52-week high on Thursday following a better than expected earnings announcement. The company traded as high as $105.00 and last traded at $104.65, with a volume of 26,854 shares. The stock had previously closed at $99.15.

The bank reported $0.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.13. The company had revenue of $84.42 million during the quarter, compared to analyst estimates of $81.12 million. BancFirst Corporation had a return on equity of 11.35% and a net margin of 23.91%.

BANF has been the subject of a number of recent research reports. ValuEngine upgraded BancFirst Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. BidaskClub upgraded BancFirst Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 16th.

In other BancFirst Corporation news, Director Dave R. Lopez sold 5,373 shares of BancFirst Corporation stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $50.26, for a total transaction of $270,046.98. Following the completion of the transaction, the director now owns 4,366 shares in the company, valued at approximately $219,435.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Darryl Schmidt sold 3,000 shares of the firm’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $53.50, for a total value of $160,500.00. Following the sale, the insider now owns 3,000 shares in the company, valued at $160,500. The disclosure for this sale can be found here. Insiders have sold a total of 14,699 shares of company stock valued at $749,476 in the last quarter. Company insiders own 44.97% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Creative Planning boosted its stake in BancFirst Corporation by 0.7% in the first quarter. Creative Planning now owns 4,737 shares of the bank’s stock worth $426,000 after buying an additional 31 shares during the period. Federated Investors Inc. PA boosted its stake in BancFirst Corporation by 0.6% in the second quarter. Federated Investors Inc. PA now owns 12,477 shares of the bank’s stock worth $1,205,000 after buying an additional 77 shares during the period. Ameritas Investment Partners Inc. boosted its stake in BancFirst Corporation by 7.1% in the second quarter. Ameritas Investment Partners Inc. now owns 1,301 shares of the bank’s stock worth $125,000 after buying an additional 86 shares during the period. Capital One National Association boosted its stake in BancFirst Corporation by 0.9% in the first quarter. Capital One National Association now owns 9,968 shares of the bank’s stock worth $896,000 after buying an additional 88 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its stake in BancFirst Corporation by 0.7% in the first quarter. Parametric Portfolio Associates LLC now owns 13,829 shares of the bank’s stock worth $1,243,000 after buying an additional 101 shares during the period. Hedge funds and other institutional investors own 16.92% of the company’s stock.

The firm has a market cap of $1.59 billion, a PE ratio of 19.69 and a beta of 0.54. The company’s 50 day moving average price is $53.71 and its 200-day moving average price is $83.89.

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BancFirst Corporation Company Profile

BancFirst Corporation is a financial holding company. The Company conducts its operating activities through its principal subsidiary, BancFirst (the Bank), a state-chartered bank. It has four business units, which include metropolitan banks, community banks, other financial services, and executive, operations and support.

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