Rafferty Asset Management LLC Boosts Position in BancFirst Corporation $BANF

Rafferty Asset Management LLC raised its holdings in shares of BancFirst Corporation (NASDAQ:BANF) by 35.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,496 shares of the bank’s stock after acquiring an additional 5,116 shares during the period. Rafferty Asset Management LLC’s holdings in BancFirst were worth $2,465,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Norges Bank purchased a new stake in BancFirst in the second quarter valued at $32,326,000. American Century Companies Inc. lifted its holdings in shares of BancFirst by 648.6% in the 2nd quarter. American Century Companies Inc. now owns 164,160 shares of the bank’s stock valued at $20,294,000 after buying an additional 142,232 shares during the period. Jane Street Group LLC purchased a new stake in shares of BancFirst in the first quarter worth about $3,646,000. Envestnet Asset Management Inc. grew its holdings in BancFirst by 49.4% during the third quarter. Envestnet Asset Management Inc. now owns 45,208 shares of the bank’s stock worth $5,717,000 after acquiring an additional 14,947 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in BancFirst by 14.5% during the third quarter. Principal Financial Group Inc. now owns 113,346 shares of the bank’s stock worth $14,333,000 after acquiring an additional 14,333 shares during the period. Institutional investors and hedge funds own 51.72% of the company’s stock.

BancFirst Trading Down 0.4%

Shares of BANF opened at $112.95 on Thursday. BancFirst Corporation has a 52-week low of $97.02 and a 52-week high of $138.77. The stock has a market cap of $3.79 billion, a PE ratio of 15.86 and a beta of 0.65. The firm’s fifty day moving average is $112.40 and its two-hundred day moving average is $117.13. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.05.

BancFirst (NASDAQ:BANF) last posted its quarterly earnings results on Thursday, January 22nd. The bank reported $1.75 earnings per share for the quarter, missing the consensus estimate of $1.78 by ($0.03). The business had revenue of $181.00 million during the quarter, compared to analysts’ expectations of $173.76 million. BancFirst had a return on equity of 13.68% and a net margin of 25.05%. Research analysts forecast that BancFirst Corporation will post 6.52 earnings per share for the current fiscal year.

BancFirst Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Tuesday, March 31st. BancFirst’s dividend payout ratio (DPR) is 27.53%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on BANF shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of BancFirst in a research note on Monday, December 22nd. Keefe, Bruyette & Woods raised their price target on shares of BancFirst from $120.00 to $123.00 and gave the company a “market perform” rating in a research report on Friday, January 23rd. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $129.50.

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.