Key Points
- BancFirst Director David Rainbolt sold 8,506 shares at an average price of $115, generating proceeds of $978,190; the transaction was disclosed in an SEC filing.
- BancFirst’s latest quarterly results exceeded expectations, with earnings per share of $1.96 versus the $1.80 consensus and revenue of $187.49 million versus estimates of $178.53 million.
- The stock traded at $115.68, while analysts maintained a generally positive outlook with a “Moderate Buy” consensus and an average price target of $123; the company also offers a $0.49 quarterly dividend, yielding about 1.7%.
BancFirst Corporation (NASDAQ:BANF - Get Free Report) Director David Rainbolt sold 8,506 shares of the business's stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $115.00, for a total transaction of $978,190.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
BancFirst Trading Up 1.2%
NASDAQ BANF opened at $115.68 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.05. The stock's 50-day simple moving average is $113.94 and its two-hundred day simple moving average is $112.36. BancFirst Corporation has a twelve month low of $101.48 and a twelve month high of $138.77. The company has a market capitalization of $3.89 billion, a price-to-earnings ratio of 15.61 and a beta of 0.61.
BancFirst (NASDAQ:BANF - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. 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 analyst estimates of $178.53 million. BancFirst had a net margin of 31.96% and a return on equity of 13.64%. Research analysts forecast that BancFirst Corporation will post 7.67 EPS for the current fiscal year.
BancFirst Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued 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 was Tuesday, June 30th. BancFirst's dividend payout ratio (DPR) is 26.45%.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on BANF shares. Weiss Ratings lowered BancFirst from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, July 16th. Wall Street Zen upgraded BancFirst from a "sell" rating to a "hold" rating in a report on Saturday, July 25th. DA Davidson reaffirmed a "neutral" rating and issued a $125.00 price target on shares of BancFirst in a research note on Friday, June 12th. Keefe, Bruyette & Woods cut their price target on shares of BancFirst from $123.00 to $121.00 and set a "market perform" rating on the stock in a report on Wednesday, August 5th. Finally, Zacks Research raised shares of BancFirst from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $123.00.
Read Our Latest Stock Report on BancFirst
Institutional Trading of BancFirst
A number of institutional investors and hedge funds have recently bought and sold shares of BANF. BlackRock Inc. bought a new stake in shares of BancFirst during the second quarter valued at approximately $356,054,000. State Street Corp lifted its position in BancFirst by 7.6% in the 4th quarter. State Street Corp now owns 1,375,873 shares of the bank's stock valued at $146,537,000 after acquiring an additional 96,957 shares in the last quarter. Norges Bank purchased a new stake in BancFirst during the 4th quarter valued at $27,723,000. Verition Fund Management LLC boosted its stake in BancFirst by 30.8% during the 4th quarter. Verition Fund Management LLC now owns 168,591 shares of the bank's stock valued at $17,874,000 after purchasing an additional 39,672 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of 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 in the last quarter. 51.72% of the stock is currently owned by 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.
Further Reading
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