SummerHaven Investment Management LLC Has $1.11 Million Holdings in BancFirst Corporation $BANF

SummerHaven Investment Management LLC lifted its holdings in BancFirst Corporation (NASDAQ:BANF) by 1.4% in the 2nd quarter, Holdings Channel reports. The firm owned 8,961 shares of the bank’s stock after buying an additional 122 shares during the quarter. BancFirst accounts for 0.7% of SummerHaven Investment Management LLC’s portfolio, making the stock its 29th biggest holding. SummerHaven Investment Management LLC’s holdings in BancFirst were worth $1,108,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Principal Financial Group Inc. lifted its stake in shares of BancFirst by 3.4% in the 1st quarter. Principal Financial Group Inc. now owns 108,842 shares of the bank’s stock valued at $11,958,000 after purchasing an additional 3,594 shares during the last quarter. GAMMA Investing LLC lifted its position in BancFirst by 34,094.7% during the 1st quarter. GAMMA Investing LLC now owns 63,944 shares of the bank’s stock worth $7,026,000 after acquiring an additional 63,757 shares during the last quarter. Victory Capital Management Inc. lifted its position in BancFirst by 114.2% during the 1st quarter. Victory Capital Management Inc. now owns 19,518 shares of the bank’s stock worth $2,144,000 after acquiring an additional 10,404 shares during the last quarter. Rhumbline Advisers lifted its position in BancFirst by 16.1% during the 1st quarter. Rhumbline Advisers now owns 72,677 shares of the bank’s stock worth $7,985,000 after acquiring an additional 10,088 shares during the last quarter. Finally, Nuveen LLC acquired a new position in BancFirst during the 1st quarter worth $6,912,000. Institutional investors and hedge funds own 51.72% of the company’s stock.

Insiders Place Their Bets

In other BancFirst news, Director F Ford Drummond sold 5,000 shares of BancFirst stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $126.29, for a total value of $631,450.00. Following the completion of the sale, the director owned 6,000 shares in the company, valued at $757,740. The trade was a 45.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 32.43% of the stock is owned by company insiders.

BancFirst Stock Up 0.3%

Shares of BANF stock opened at $130.79 on Monday. The firm has a fifty day moving average of $129.11 and a 200-day moving average of $122.67. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.05. BancFirst Corporation has a 12-month low of $97.02 and a 12-month high of $138.77. The company has a market capitalization of $4.36 billion, a price-to-earnings ratio of 18.82 and a beta of 0.79.

BancFirst (NASDAQ:BANF) last released its earnings results on Thursday, July 17th. The bank reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.67 by $0.18. The business had revenue of $169.30 million during the quarter, compared to the consensus estimate of $163.62 million. BancFirst had a net margin of 24.94% and a return on equity of 14.16%. As a group, equities research analysts predict that BancFirst Corporation will post 6.52 earnings per share for the current fiscal year.

BancFirst Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid a $0.49 dividend. This is a positive change from BancFirst’s previous quarterly dividend of $0.46. The ex-dividend date is Tuesday, September 30th. This represents a $1.96 annualized dividend and a yield of 1.5%. BancFirst’s dividend payout ratio is presently 26.47%.

Analyst Ratings Changes

A number of research analysts have weighed in on BANF shares. Zacks Research lowered shares of BancFirst from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 16th. DA Davidson upped their price objective on shares of BancFirst from $120.00 to $136.00 and gave the company a “neutral” rating in a research report on Monday, July 21st. Wall Street Zen raised shares of BancFirst from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, Keefe, Bruyette & Woods upped their target price on shares of BancFirst from $123.00 to $132.00 and gave the company a “market perform” rating in a research note on Friday, July 18th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat, BancFirst has a consensus rating of “Hold” and a consensus target price of $134.00.

About BancFirst

BancFirst Corporation operates as the bank holding company for BancFirst that provides a range of commercial banking services to retail customers, and small to medium-sized businesses. The company operates through BancFirst Metropolitan Banks, BancFirst Community Banks, Pegasus, Worthington, and Other Financial Services segments.