BancFirst (NASDAQ:BANF) Director David Rainbolt Sells 11,497 Shares

Key Points

• Director David Rainbolt sold 11,497 BancFirst shares at an average price of $115.09, generating approximately $1.32 million. The transaction reduced his direct holdings by 26.84% to 31,336 shares.
• BancFirst shares rose 0.5% to $114.58, while the bank’s latest quarterly results exceeded expectations with earnings per share of $1.96 and revenue of $187.49 million.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $124. BancFirst also pays a quarterly dividend of $0.49, yielding about 1.7%.

BancFirst Corporation (NASDAQ:BANF - Get Free Report) Director David Rainbolt sold 11,497 shares of the firm's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $115.09, for a total value of $1,323,189.73. Following the sale, the director directly owned 31,336 shares in the company, valued at $3,606,460.24. This trade represents a 26.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

BancFirst Stock Up 0.5%

BANF traded up $0.58 on Tuesday, reaching $114.58. The company's stock had a trading volume of 41,934 shares, compared to its average volume of 150,725. The stock has a 50 day moving average of $113.32 and a two-hundred day moving average of $112.32. 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 capitalization of $3.85 billion, a price-to-earnings ratio of 15.39 and a beta of 0.61. BancFirst Corporation has a fifty-two week low of $101.48 and a fifty-two week high of $138.77.

BancFirst (NASDAQ:BANF - Get Free Report) last issued its quarterly earnings data on Friday, July 24th. The bank reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.80 by $0.16. The business had revenue of $187.49 million during the quarter, compared to the consensus estimate of $178.53 million. BancFirst had a net margin of 31.96% and a return on equity of 13.64%. As a group, analysts forecast that BancFirst Corporation will post 7.67 EPS for the current fiscal year.

BancFirst Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 1.7%. The ex-dividend date was Tuesday, June 30th. BancFirst's dividend payout ratio is currently 26.45%.

Analysts Set New Price Targets

BANF has been the subject of several research reports. Wall Street Zen raised BancFirst from a "sell" rating to a "hold" rating in a report on Saturday, July 25th. Weiss Ratings lowered BancFirst from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, July 16th. 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. Finally, Zacks Research raised BancFirst from a "hold" rating to a "strong-buy" rating in a report on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, BancFirst has an average rating of "Moderate Buy" and an average price target of $124.00.

Institutional Trading of BancFirst

Several hedge funds and other institutional investors have recently made changes to their positions in BANF. Quarry LP boosted its holdings in BancFirst by 531.4% in the 3rd quarter. Quarry LP now owns 221 shares of the bank's stock valued at $28,000 after purchasing an additional 186 shares in the last quarter. Eagle Bay Advisors LLC purchased a new stake in BancFirst in the 4th quarter worth approximately $40,000. Kestra Advisory Services LLC acquired a new position in shares of BancFirst in the 4th quarter valued at about $41,000. EverSource Wealth Advisors LLC boosted its position in BancFirst by 957.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 402 shares of the bank's stock valued at $50,000 after buying an additional 364 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its stake in BancFirst by 108.6% during the 1st quarter. Advisors Asset Management Inc. now owns 559 shares of the bank's stock valued at $61,000 after purchasing an additional 291 shares in the last quarter. Hedge funds and other institutional investors own 51.72% of the company's stock.

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.

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