BancFirst (NASDAQ:BANF) Rating Lowered to Hold at Zacks Research

Key Points

• Zacks Research downgraded BancFirst from “strong buy” to “hold.” Other analysts are also broadly neutral, giving the stock a consensus “Hold” rating and a $123 price target.
• BancFirst shares opened at $111.80, below the consensus target. The bank recently beat quarterly expectations, reporting $1.96 in EPS versus $1.80 expected and revenue of $187.49 million versus $178.53 million forecast.
• Insiders have sold 166,783 shares worth approximately $19.4 million over the past three months, while institutional investors own 51.72% of the company.

BancFirst (NASDAQ:BANF - Get Free Report) was downgraded by stock analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Other analysts also recently issued research reports about the company. DA Davidson reissued 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 decreased their price objective on BancFirst from $123.00 to $121.00 and set a "market perform" rating for the company in a report on Wednesday, August 5th. Weiss Ratings lowered BancFirst from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, July 16th. Finally, Wall Street Zen upgraded BancFirst from a "sell" rating to a "hold" rating in a research note on Saturday, July 25th. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, BancFirst currently has a consensus rating of "Hold" and a consensus price target of $123.00.

BancFirst Stock Performance

Shares of BANF opened at $111.80 on Tuesday. The firm has a market cap of $3.76 billion, a P/E ratio of 15.09 and a beta of 0.61. BancFirst has a twelve month low of $101.48 and a twelve month high of $138.77. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.02 and a current ratio of 1.03. The firm's 50 day moving average price is $114.01 and its two-hundred day moving average price is $112.48.

BancFirst (NASDAQ:BANF - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The bank reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.80 by $0.16. The company had revenue of $187.49 million during the quarter, compared to the consensus estimate of $178.53 million. BancFirst had a net margin of 25.61% and a return on equity of 13.44%. On average, analysts forecast that BancFirst will post 7.67 EPS for the current fiscal year.

Insider Activity at BancFirst

In other news, Director David E. Rainbolt sold 81,492 shares of the stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $116.71, for a total transaction of $9,510,931.32. Following the completion of the transaction, the director directly owned 55,551 shares in the company, valued at $6,483,357.21. This represents a 59.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last three months, insiders have sold 166,783 shares of company stock worth $19,366,509. Corporate insiders own 31.67% of the company's stock.

Institutional Trading of BancFirst

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. increased its stake in shares of BancFirst by 108.6% during the 1st quarter. Advisors Asset Management Inc. now owns 559 shares of the bank's stock worth $61,000 after purchasing an additional 291 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in BancFirst by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,844 shares of the bank's stock worth $1,301,000 after purchasing an additional 505 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of BancFirst by 8.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 46,396 shares of the bank's stock valued at $5,098,000 after acquiring an additional 3,433 shares during the period. Jane Street Group LLC bought a new position in BancFirst during the 1st quarter worth $3,646,000. Finally, Cetera Investment Advisers acquired a new position in BancFirst in the 2nd quarter valued at $207,000. 51.72% of the stock is owned by institutional investors.

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.

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