Insider Selling: BancFirst (NASDAQ:BANF) Director Sells $9,510,931.32 in Stock

BancFirst Corporation (NASDAQ:BANF) Director David Rainbolt sold 81,492 shares of the business’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $116.71, for a total transaction of $9,510,931.32. Following the transaction, the director owned 55,551 shares in the company, valued at approximately $6,483,357.21. This trade represents a 59.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

BancFirst Price Performance

Shares of NASDAQ:BANF opened at $112.82 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 company has a market cap of $3.79 billion, a P/E ratio of 15.23 and a beta of 0.59. BancFirst Corporation has a 52 week low of $101.48 and a 52 week high of $138.77. The company has a 50-day moving average price of $113.26 and a 200 day moving average price of $112.26.

BancFirst (NASDAQ:BANF) last announced its quarterly earnings data on Friday, July 24th. The bank reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.80 by $0.16. The company had revenue of $187.49 million for the quarter, compared to analyst estimates of $178.53 million. BancFirst had a return on equity of 13.64% and a net margin of 31.96%. Research analysts predict that BancFirst Corporation will post 7.67 earnings per share for the current year.

BancFirst Announces Dividend

The firm also recently declared 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 was Tuesday, June 30th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 1.7%. BancFirst’s payout ratio is 26.45%.

Analyst Upgrades and Downgrades

BANF has been the subject of several research analyst reports. Wall Street Zen upgraded BancFirst from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. Weiss Ratings cut shares of BancFirst from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, July 16th. Zacks Research upgraded shares of BancFirst from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. Finally, DA Davidson reiterated a “neutral” rating and issued a $125.00 price objective on shares of BancFirst in a research note on Friday, June 12th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $124.00.

Hedge Funds Weigh In On BancFirst

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Quarry LP boosted its position in 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. Allworth Financial LP increased its position in shares of BancFirst by 47.5% in the third quarter. Allworth Financial LP now owns 295 shares of the bank’s stock valued at $37,000 after buying an additional 95 shares in the last quarter. Eagle Bay Advisors LLC acquired a new position in shares of BancFirst during the 4th quarter worth $40,000. Kestra Advisory Services LLC purchased a new stake in shares of BancFirst in the 4th quarter worth about $41,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of BancFirst by 957.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 402 shares of the bank’s stock worth $50,000 after buying an additional 364 shares in the last quarter. 51.72% of the stock is owned by institutional investors and hedge funds.

BancFirst Company 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.