Principal Financial Group Inc. Sells 18,608 Shares of BancFirst Corporation $BANF

Principal Financial Group Inc. cut its holdings in shares of BancFirst Corporation (NASDAQ:BANF) by 15.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 101,627 shares of the bank’s stock after selling 18,608 shares during the period. Principal Financial Group Inc.’s holdings in BancFirst were worth $11,027,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of BANF. Quarry LP raised its position in BancFirst by 531.4% in the 3rd quarter. Quarry LP now owns 221 shares of the bank’s stock worth $28,000 after buying an additional 186 shares during the last quarter. Allworth Financial LP grew its stake in shares of BancFirst by 47.5% in the third quarter. Allworth Financial LP now owns 295 shares of the bank’s stock worth $37,000 after acquiring an additional 95 shares during the period. Eagle Bay Advisors LLC bought a new stake in shares of BancFirst in the fourth quarter worth approximately $40,000. Kestra Advisory Services LLC bought a new position in BancFirst during the fourth quarter valued at approximately $41,000. Finally, EverSource Wealth Advisors LLC lifted its position in 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 purchasing an additional 364 shares during the period. 51.72% of the stock is currently owned by institutional investors.

BancFirst Price Performance

Shares of NASDAQ:BANF opened at $116.58 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $3.92 billion, a PE ratio of 15.73 and a beta of 0.59. The firm’s 50 day moving average price is $112.86 and its 200-day moving average price is $112.09. BancFirst Corporation has a twelve month low of $101.48 and a twelve month high of $138.77.

BancFirst (NASDAQ:BANF) last announced its earnings results on Friday, July 24th. The bank reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.16. BancFirst had a net margin of 25.50% and a return on equity of 13.64%. The company had revenue of $187.49 million during the quarter, compared to analyst estimates of $178.53 million. Equities research analysts expect that BancFirst Corporation will post 7.39 EPS for the current year.

BancFirst Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms have commented on BANF. Wall Street Zen raised shares of BancFirst from a “sell” rating to a “hold” rating in a research report on Saturday. Weiss Ratings cut BancFirst from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, July 16th. Finally, DA Davidson restated a “neutral” rating and issued a $125.00 price target on shares of BancFirst in a research note on Friday, June 12th. Four research analysts have rated the stock with a Hold rating, According to MarketBeat, BancFirst currently has a consensus rating of “Hold” and a consensus target price of $124.00.

Insider Activity at BancFirst

In related news, Director David E. Rainbolt sold 9,001 shares of the firm’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $115.11, for a total value of $1,036,105.11. Following the transaction, the director directly owned 166,783 shares of the company’s stock, valued at approximately $19,198,391.13. This trade represents a 5.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders sold 40,040 shares of company stock valued at $4,619,565. Corporate insiders own 31.67% of the company’s stock.

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.