Key Points
- Director David Rainbolt sold 17,527 shares on April 23 at an average price of $115.53 for proceeds of about $2.02 million, trimming his stake by 7.79% to 207,473 shares valued near $23.97 million.
- BancFirst beat quarterly expectations with $1.85 EPS vs. $1.77 expected and revenue of $179.0 million, while posting a 13.84% return on equity and a 31.71% net margin; analysts project about 7.36 EPS for the year.
- The bank pays a quarterly dividend of $0.49 ($1.96 annualized, ~1.7% yield, 26.85% payout ratio), and the stock carries a consensus "Hold" rating with a $124 average price target amid some recent upgrades.
BancFirst Corporation (NASDAQ:BANF - Get Free Report) Director David Rainbolt sold 650 shares of BancFirst stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $115.02, for a total value of $74,763.00. Following the completion of the sale, the director owned 206,823 shares in the company, valued at approximately $23,788,781.46. This represents a 0.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.
BancFirst Price Performance
BANF opened at $113.53 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market capitalization of $3.81 billion, a PE ratio of 15.55 and a beta of 0.61. The stock's 50 day moving average price is $111.05 and its 200-day moving average price is $111.84. BancFirst Corporation has a 52-week low of $101.48 and a 52-week high of $138.77.
BancFirst (NASDAQ:BANF - Get Free Report) last announced its quarterly earnings results on Thursday, April 16th. The bank reported $1.85 EPS for the quarter, topping analysts' consensus estimates of $1.77 by $0.08. The company had revenue of $179.00 million during the quarter, compared to analyst estimates of $177.19 million. BancFirst had a return on equity of 13.84% and a net margin of 31.71%.During the same quarter last year, the firm posted $1.66 earnings per share. On average, equities research analysts predict that BancFirst Corporation will post 7.36 EPS for the current year.
BancFirst Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were paid a dividend of $0.49 per share. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $1.96 dividend on an annualized basis and a dividend yield of 1.7%. BancFirst's payout ratio is presently 26.85%.
Analyst Upgrades and Downgrades
A number of equities analysts recently issued reports on BANF shares. Weiss Ratings raised shares of BancFirst from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, April 16th. DA Davidson reaffirmed a "neutral" rating and set a $125.00 price objective on shares of BancFirst in a research report on Monday, April 20th. Finally, Keefe, Bruyette & Woods increased their target price on BancFirst from $120.00 to $123.00 and gave the stock 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, BancFirst currently has a consensus rating of "Hold" and an average target price of $124.00.
Check Out Our Latest Analysis on BANF
Hedge Funds Weigh In On BancFirst
Large investors have recently made changes to their positions in the business. Envestnet Asset Management Inc. raised its position in shares of BancFirst by 49.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 45,208 shares of the bank's stock worth $5,717,000 after purchasing an additional 14,947 shares during the last quarter. Principal Financial Group Inc. grew its position in BancFirst by 14.5% during the 3rd quarter. Principal Financial Group Inc. now owns 113,346 shares of the bank's stock valued at $14,333,000 after purchasing an additional 14,333 shares during the last quarter. Clark Capital Management Group Inc. increased its stake in BancFirst by 37.6% during the 3rd quarter. Clark Capital Management Group Inc. now owns 62,605 shares of the bank's stock valued at $7,916,000 after purchasing an additional 17,092 shares in the last quarter. SG Americas Securities LLC raised its holdings in BancFirst by 1,012.1% in the fourth quarter. SG Americas Securities LLC now owns 11,722 shares of the bank's stock worth $1,243,000 after buying an additional 10,668 shares during the last quarter. Finally, Public Sector Pension Investment Board raised its holdings in BancFirst by 18.4% in the third quarter. Public Sector Pension Investment Board now owns 80,535 shares of the bank's stock worth $10,184,000 after buying an additional 12,535 shares during the last quarter. 51.72% of the stock is currently owned by hedge funds and other institutional investors.
BancFirst Company Profile
(
Get Free Report)
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.
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