BancFirst (NASDAQ:BANF) Director David Rainbolt Sells 12,718 Shares of Stock

BancFirst Corporation (NASDAQ:BANF) Director David Rainbolt sold 12,718 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $115.05, for a total transaction of $1,463,205.90. Following the completion of the sale, the director directly owned 42,833 shares of the company’s stock, valued at approximately $4,927,936.65. The trade was a 22.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

BancFirst Trading Down 1.9%

Shares of BANF traded down $2.25 during mid-day trading on Wednesday, reaching $113.47. 139,657 shares of the company’s stock traded hands, compared to its average volume of 151,467. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.04 and a quick ratio of 1.04. The stock’s 50-day moving average is $113.17 and its two-hundred day moving average is $112.23. BancFirst Corporation has a 12 month low of $101.48 and a 12 month high of $138.77. The stock has a market cap of $3.81 billion, a P/E ratio of 15.31 and a beta of 0.59.

BancFirst (NASDAQ:BANF) last issued its quarterly earnings results on Friday, July 24th. The bank reported $1.96 earnings per share (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 firm had revenue of $187.49 million during the quarter, compared to analyst estimates of $178.53 million. Research analysts forecast that BancFirst Corporation will post 7.55 earnings per share for the current fiscal year.

BancFirst Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Tuesday, June 30th. BancFirst’s payout ratio is currently 26.45%.

Hedge Funds Weigh In On BancFirst

A number of hedge funds and other institutional investors have recently made changes to their positions in BANF. State Street Corp increased its stake in shares of BancFirst by 7.6% during the fourth quarter. State Street Corp now owns 1,375,873 shares of the bank’s stock valued at $146,537,000 after buying an additional 96,957 shares during the period. Norges Bank bought a new position in BancFirst during the 4th quarter worth about $27,723,000. Verition Fund Management LLC increased its position 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 period. Invesco Ltd. increased its position in BancFirst by 73.4% during the 3rd quarter. Invesco Ltd. now owns 163,512 shares of the bank’s stock valued at $20,676,000 after purchasing an additional 69,192 shares during the period. Finally, Raymond James Financial Inc. raised its holdings in shares of BancFirst by 33.5% in the 3rd quarter. Raymond James Financial Inc. now owns 134,175 shares of the bank’s stock valued at $16,966,000 after purchasing an additional 33,636 shares in the last quarter. Institutional investors own 51.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BANF. Zacks Research raised shares of BancFirst from a “hold” rating to a “strong-buy” rating in a research note on Monday. Weiss Ratings downgraded shares of BancFirst from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, July 16th. DA Davidson reaffirmed a “neutral” rating and set a $125.00 target price on shares of BancFirst in a research report on Friday, June 12th. Finally, Wall Street Zen raised shares of BancFirst from a “sell” rating to a “hold” rating in a research note on Saturday. One research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, BancFirst presently has a consensus rating of “Moderate Buy” and an average price target of $124.00.

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.