BancFirst (NASDAQ:BANF) Director David Rainbolt Sells 17,527 Shares

Key Points

• Director David Rainbolt sold 17,527 shares on April 23 at an average price of $115.53 for about $2.02 million, trimming his stake by 7.79% to 207,473 shares (worth roughly $23.97 million).
• BancFirst beat expectations for the quarter with EPS of $1.85 vs. $1.77 estimated and revenue of $179.0 million vs. $177.19 million, reporting a 13.84% return on equity and a 31.71% net margin.
• The bank declared a quarterly dividend of $0.49 (1.7% yield, 26.85% payout ratio); shares trade near $113.53 and analysts hold a consensus "Hold" rating with a $124 average target.

BancFirst Corporation (NASDAQ:BANF - Get Free Report) Director David Rainbolt sold 17,527 shares of the firm's stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $115.53, for a total value of $2,024,894.31. Following the transaction, the director directly owned 207,473 shares of the company's stock, valued at $23,969,355.69. The trade was a 7.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

BancFirst Price Performance

BancFirst stock traded down $1.32 during mid-day trading on Friday, hitting $113.53. 70,615 shares of the company were exchanged, compared to its average volume of 135,562. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.03 and a quick ratio of 1.03. The business's 50 day simple moving average is $111.14 and its two-hundred day simple moving average is $111.94. The company has a market capitalization of $3.81 billion, a P/E ratio of 15.55 and a beta of 0.61. BancFirst Corporation has a 12-month low of $101.48 and a 12-month high of $138.77.

BancFirst (NASDAQ:BANF - Get Free Report) last released its quarterly earnings results on Thursday, April 16th. The bank reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.08. The company had revenue of $179.00 million during the quarter, compared to the consensus estimate of $177.19 million. BancFirst had a return on equity of 13.84% and a net margin of 31.71%.During the same quarter last year, the business posted $1.66 earnings per share. Analysts forecast that BancFirst Corporation will post 7.36 earnings per share for the current fiscal year.

BancFirst Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were given a dividend of $0.49 per share. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $1.96 annualized dividend and a yield of 1.7%. BancFirst's dividend payout ratio (DPR) is presently 26.85%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Weiss Ratings raised BancFirst from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, April 16th. Keefe, Bruyette & Woods lifted their price objective on BancFirst from $120.00 to $123.00 and gave the company a "market perform" rating in a research report on Friday, January 23rd. Finally, DA Davidson reaffirmed a "neutral" rating and issued a $125.00 price objective on shares of BancFirst in a research report on Monday. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $124.00.

Institutional Investors Weigh In On BancFirst

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Signaturefd LLC grew its position in shares of BancFirst by 5.2% in the fourth quarter. Signaturefd LLC now owns 1,873 shares of the bank's stock valued at $199,000 after purchasing an additional 93 shares during the period. Allworth Financial LP grew 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 purchasing an additional 95 shares during the period. Oregon Public Employees Retirement Fund grew its position in shares of BancFirst by 2.2% in the third quarter. Oregon Public Employees Retirement Fund now owns 4,652 shares of the bank's stock valued at $588,000 after purchasing an additional 100 shares during the period. Triton Financial Group Inc grew its position in shares of BancFirst by 0.7% in the third quarter. Triton Financial Group Inc now owns 14,592 shares of the bank's stock valued at $1,845,000 after purchasing an additional 101 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in shares of BancFirst by 26.1% in the third quarter. EverSource Wealth Advisors LLC now owns 507 shares of the bank's stock valued at $64,000 after purchasing an additional 105 shares during the period. Hedge funds and other institutional investors own 51.72% of the company's stock.

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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