BancFirst (NASDAQ:BANF) Director David Rainbolt Sells 205 Shares

Key Points

• Director David Rainbolt sold 205 shares on April 27 at an average price of $115.01 for $23,577, leaving him with 206,618 shares (a 0.10% reduction) valued at roughly $23.8 million.
• Recent quarter beat expectations: BancFirst reported $1.85 EPS and $179.0M revenue, with a 31.7% net margin and 13.8% ROE; the stock trades at a P/E of 15.6 and carries an average analyst target of $124 with a consensus "Hold" rating.
• Dividend announced: the company paid a $0.49 quarterly dividend ($1.96 annualized) for a 1.7% yield and a 26.85% payout ratio.

BancFirst Corporation (NASDAQ:BANF - Get Free Report) Director David Rainbolt sold 205 shares of the company's stock in a transaction on Monday, April 27th. The stock was sold at an average price of $115.01, for a total value of $23,577.05. Following the completion of the sale, the director directly owned 206,618 shares in the company, valued at approximately $23,763,136.18. The trade was a 0.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

BancFirst Stock Down 0.6%

BANF traded down $0.64 during trading on Tuesday, reaching $114.15. The stock had a trading volume of 181,163 shares, compared to its average volume of 135,420. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $3.83 billion, a price-to-earnings ratio of 15.64 and a beta of 0.61. The stock's 50 day moving average is $111.00 and its two-hundred day moving average is $111.58. BancFirst Corporation has a one year low of $101.48 and a one year high of $138.77.

BancFirst (NASDAQ:BANF - Get Free Report) last released its earnings results on Thursday, April 16th. The bank reported $1.85 earnings per share for the quarter, topping analysts' consensus estimates of $1.77 by $0.08. The firm had revenue of $179.00 million for the quarter, compared to the consensus estimate of $177.19 million. BancFirst had a net margin of 31.71% and a return on equity of 13.84%. During the same period in the prior year, the firm earned $1.66 EPS. As a group, analysts expect that BancFirst Corporation will post 7.36 earnings per share for the current year.

BancFirst Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Tuesday, March 31st. BancFirst's dividend payout ratio is 26.85%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Envestnet Asset Management Inc. raised its holdings in BancFirst by 49.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 45,208 shares of the bank's stock worth $5,717,000 after acquiring an additional 14,947 shares during the last quarter. Principal Financial Group Inc. boosted its stake in BancFirst by 14.5% during the 3rd quarter. Principal Financial Group Inc. now owns 113,346 shares of the bank's stock valued at $14,333,000 after purchasing an additional 14,333 shares during the last quarter. Clark Capital Management Group Inc. increased its holdings in shares of BancFirst by 37.6% in the 3rd quarter. Clark Capital Management Group Inc. now owns 62,605 shares of the bank's stock worth $7,916,000 after purchasing an additional 17,092 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of BancFirst by 1,012.1% in the 4th quarter. SG Americas Securities LLC now owns 11,722 shares of the bank's stock worth $1,243,000 after purchasing an additional 10,668 shares in the last quarter. Finally, Public Sector Pension Investment Board raised its stake in shares of BancFirst by 18.4% in the third quarter. Public Sector Pension Investment Board now owns 80,535 shares of the bank's stock worth $10,184,000 after purchasing an additional 12,535 shares during the last quarter. 51.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BANF. DA Davidson reiterated a "neutral" rating and set a $125.00 target price on shares of BancFirst in a report on Monday, April 20th. Keefe, Bruyette & Woods raised 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, Weiss Ratings upgraded BancFirst from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, April 16th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, BancFirst presently has an average rating of "Hold" and an average target price of $124.00.

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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