David Rainbolt Sells 29,740 Shares of BancFirst (NASDAQ:BANF) Stock

BancFirst Corporation (NASDAQ:BANF) Director David Rainbolt sold 29,740 shares of the company’s stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $116.49, for a total transaction of $3,464,412.60. Following the completion of the transaction, the director owned 137,043 shares in the company, valued at approximately $15,964,139.07. This represents a 17.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

BancFirst Trading Up 2.1%

NASDAQ BANF traded up $2.41 on Tuesday, reaching $118.37. The stock had a trading volume of 80,530 shares, compared to its average volume of 149,804. The firm has a market capitalization of $3.98 billion, a price-to-earnings ratio of 15.96 and a beta of 0.59. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.05. BancFirst Corporation has a 12-month low of $101.48 and a 12-month high of $138.77. The stock has a fifty day moving average price of $113.02 and a two-hundred day moving average price of $112.18.

BancFirst (NASDAQ:BANF) last released its quarterly earnings results on Friday, July 24th. The bank reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.80 by $0.16. BancFirst had a return on equity of 13.64% and a net margin of 31.96%.The company had revenue of $187.49 million for the quarter, compared to analysts’ expectations of $178.53 million. As a group, sell-side analysts forecast that BancFirst Corporation will post 7.39 EPS for the current fiscal year.

BancFirst Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued 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%.

Analysts Set New Price Targets

BANF has been the subject of several recent research reports. DA Davidson reissued a “neutral” rating and issued a $125.00 price target on shares of BancFirst in a research report on Friday, June 12th. Weiss Ratings cut BancFirst from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, July 16th. Finally, Wall Street Zen raised BancFirst from a “sell” rating to a “hold” rating in a research report on Saturday. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat, BancFirst has an average rating of “Hold” and a consensus target price of $124.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp increased its holdings in shares of 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 during the last quarter. Norges Bank acquired a new position in BancFirst in the fourth quarter valued at approximately $27,723,000. Verition Fund Management LLC increased its stake in BancFirst by 30.8% in the fourth 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. Invesco Ltd. raised its holdings in BancFirst by 73.4% during the third 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. Finally, Raymond James Financial Inc. lifted its position in shares of BancFirst by 33.5% during the 3rd quarter. Raymond James Financial Inc. now owns 134,175 shares of the bank’s stock worth $16,966,000 after buying an additional 33,636 shares during the last quarter. 51.72% of the stock is owned by institutional investors and hedge funds.

About BancFirst

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.