Legal & General Group Plc Invests $5.40 Million in BancFirst Corporation $BANF

Legal & General Group Plc acquired a new stake in BancFirst Corporation (NASDAQ:BANF) in the 2nd quarter, HoldingsChannel reports. The fund acquired 48,588 shares of the bank’s stock, valued at approximately $5,400,000.

A number of other institutional investors have also recently made changes to their positions in the business. Oregon Public Employees Retirement Fund lifted its holdings in BancFirst by 2.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,752 shares of the bank’s stock worth $504,000 after buying an additional 100 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of BancFirst by 9.5% in the fourth quarter. Advisors Asset Management Inc. now owns 1,245 shares of the bank’s stock worth $132,000 after acquiring an additional 108 shares in the last quarter. ProShare Advisors LLC increased its position in shares of BancFirst by 3.2% during the fourth quarter. ProShare Advisors LLC now owns 4,058 shares of the bank’s stock worth $430,000 after acquiring an additional 127 shares during the period. Parallel Advisors LLC increased its position in shares of BancFirst by 17.7% during the first quarter. Parallel Advisors LLC now owns 1,082 shares of the bank’s stock worth $117,000 after acquiring an additional 163 shares during the period. Finally, Parkside Financial Bank & Trust raised its stake in shares of BancFirst by 11.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,551 shares of the bank’s stock valued at $164,000 after acquiring an additional 165 shares in the last quarter. Institutional investors and hedge funds own 51.72% of the company’s stock.

BancFirst Stock Performance

Shares of BANF stock opened at $111.75 on Friday. The company has a market cap of $3.75 billion, a P/E ratio of 15.08 and a beta of 0.60. The firm has a fifty day moving average price of $113.75 and a 200 day moving average price of $112.13. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.04. BancFirst Corporation has a 12 month low of $101.48 and a 12 month high of $138.77.

BancFirst (NASDAQ:BANF) last posted its quarterly earnings results on Thursday, July 23rd. The bank reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.80 by $0.16. The company had revenue of $187.49 million for 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%. Sell-side analysts predict that BancFirst Corporation will post 7.67 earnings per share for the current fiscal year.

Insider Buying and Selling at BancFirst

In other news, Director David Rainbolt sold 8,506 shares of the firm’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $115.00, for a total transaction of $978,190.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last quarter, insiders sold 166,783 shares of company stock worth $19,366,509. 31.67% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

BANF has been the subject of several analyst reports. Keefe, Bruyette & Woods lowered their target price on BancFirst from $123.00 to $121.00 and set a “market perform” rating for the company in a research note on Wednesday, August 5th. Zacks Research cut BancFirst from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 25th. Wall Street Zen raised 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, DA Davidson reaffirmed a “neutral” rating and issued a $125.00 target price on shares of BancFirst in a report on Friday, June 12th. Four analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $123.00.

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.