BancFirst (NASDAQ:BANF) Director Sells $1,323,189.73 in Stock

BancFirst Corporation (NASDAQ:BANF) Director David Rainbolt sold 11,497 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $115.09, for a total transaction of $1,323,189.73. Following the completion of the sale, the director directly owned 31,336 shares of the company’s stock, valued at $3,606,460.24. The trade was a 26.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

BancFirst Stock Down 0.7%

NASDAQ BANF opened at $113.33 on Friday. BancFirst Corporation has a 12 month low of $101.48 and a 12 month high of $138.77. The company has a market capitalization of $3.81 billion, a P/E ratio of 15.29 and a beta of 0.61. The company’s 50 day simple moving average is $113.49 and its 200 day simple moving average is $112.34. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.04 and a quick ratio of 1.04.

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

BancFirst Dividend Announcement

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

Institutional Investors Weigh In On BancFirst

A number of institutional investors have recently bought and sold shares of BANF. Norges Bank purchased a new stake in shares of BancFirst in the fourth quarter worth approximately $27,723,000. Bank of New York Mellon Corp acquired a new position in BancFirst in the 2nd quarter valued at approximately $17,920,000. State Street Corp raised its holdings in shares of 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 acquiring an additional 96,957 shares in the last quarter. Millennium Management LLC acquired a new position in BancFirst in the 4th quarter worth about $8,316,000. Finally, Invesco Ltd. increased its position in BancFirst by 73.4% in the 3rd quarter. Invesco Ltd. now owns 163,512 shares of the bank’s stock worth $20,676,000 after purchasing an additional 69,192 shares during the last quarter. 51.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on BANF shares. Zacks Research raised BancFirst from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 27th. Wall Street Zen raised shares of BancFirst from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. Weiss Ratings cut shares of BancFirst from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, July 16th. DA Davidson restated a “neutral” rating and set a $125.00 price target on shares of BancFirst in a report on Friday, June 12th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of BancFirst from $123.00 to $121.00 and set a “market perform” rating for the company in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $123.00.

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.