Key Points
- BancFirst director David Rainbolt sold 2,000 shares at an average price of $115.03, generating $230,060 and reducing his ownership by 14.81% to 11,506 shares.
- BancFirst exceeded quarterly expectations, reporting $1.96 in EPS versus the $1.80 consensus estimate and revenue of $187.49 million compared with estimates of $178.53 million.
- The company maintains a quarterly dividend of $0.49, equal to an annualized $1.96 and a 1.7% yield. Analysts’ consensus rating is “Moderate Buy”, with an average price target of $123.
BancFirst Corporation (NASDAQ:BANF - Get Free Report) Director David Rainbolt sold 2,000 shares of the firm's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $115.03, for a total transaction of $230,060.00. Following the transaction, the director owned 11,506 shares of the company's stock, valued at $1,323,535.18. This trade represents a 14.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
BancFirst Stock Performance
Shares of BANF opened at $113.33 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.05. The stock has a market cap of $3.81 billion, a P/E ratio of 15.29 and a beta of 0.61. The company has a 50-day moving average of $113.49 and a two-hundred day moving average of $112.34. BancFirst Corporation has a 12-month low of $101.48 and a 12-month high of $138.77.
BancFirst (NASDAQ:BANF - Get Free Report) last released its quarterly earnings results on Friday, July 24th. The bank reported $1.96 EPS for the quarter, beating the consensus estimate of $1.80 by $0.16. BancFirst had a net margin of 31.96% and a return on equity of 13.64%. The business had revenue of $187.49 million for the quarter, compared to analyst estimates of $178.53 million. As a group, research analysts predict that BancFirst Corporation will post 7.67 EPS for the current fiscal year.
BancFirst Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a $0.49 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.96 dividend on an annualized basis and a yield of 1.7%. BancFirst's dividend payout ratio is presently 26.45%.
Analysts Set New Price Targets
Several equities research analysts have issued reports on the stock. Zacks Research upgraded shares of BancFirst from a "hold" rating to a "strong-buy" rating in a report on Monday, July 27th. DA Davidson reissued a "neutral" rating and set a $125.00 price objective on shares of BancFirst in a research note on Friday, June 12th. Weiss Ratings cut shares of BancFirst from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, July 16th. Wall Street Zen raised BancFirst from a "sell" rating to a "hold" rating in a research note on Saturday, July 25th. Finally, Keefe, Bruyette & Woods decreased their price objective on BancFirst from $123.00 to $121.00 and set a "market perform" rating on the stock in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $123.00.
Check Out Our Latest Research Report on BANF
Institutional Trading of BancFirst
A number of institutional investors have recently added to or reduced their stakes in the business. Quarry LP lifted its stake in shares of BancFirst by 531.4% during the third quarter. Quarry LP now owns 221 shares of the bank's stock worth $28,000 after purchasing an additional 186 shares in the last quarter. Eagle Bay Advisors LLC acquired a new position in BancFirst during the 4th quarter worth approximately $40,000. Kestra Advisory Services LLC purchased a new position in BancFirst in the 4th quarter worth approximately $41,000. EverSource Wealth Advisors LLC grew its position in BancFirst by 957.9% in the second quarter. EverSource Wealth Advisors LLC now owns 402 shares of the bank's stock valued at $50,000 after acquiring an additional 364 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its position in BancFirst by 108.6% in the first quarter. Advisors Asset Management Inc. now owns 559 shares of the bank's stock valued at $61,000 after acquiring an additional 291 shares in the last quarter. 51.72% of the stock is owned by hedge funds and other institutional investors.
About BancFirst
(
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.
Further Reading
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