BancFirst (NASDAQ:BANF) Director David Rainbolt Sells 81,492 Shares of Stock

Key Points

• Director David Rainbolt sold 81,492 BancFirst shares for approximately $9.51 million at an average price of $116.71, reducing his stake by 59.46% to 55,551 shares.
• BancFirst shares recently traded at $114.53, while the bank reported quarterly EPS of $1.96 and revenue of $187.49 million, exceeding analyst expectations.
• The company maintains a quarterly dividend of $0.49 per share, equivalent to a 1.7% annualized yield, and analysts’ consensus rating is “Moderate Buy” with a $124 target price.

BancFirst Corporation (NASDAQ:BANF - Get Free Report) Director David Rainbolt sold 81,492 shares of the firm's stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $116.71, for a total value of $9,510,931.32. Following the transaction, the director owned 55,551 shares of the company's stock, valued at approximately $6,483,357.21. The trade was a 59.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

BancFirst Price Performance

Shares of NASDAQ BANF traded down $1.19 during midday trading on Wednesday, reaching $114.53. 30,733 shares of the stock traded hands, compared to its average volume of 150,680. The stock has a market capitalization of $3.85 billion, a PE ratio of 15.44 and a beta of 0.59. The company's 50 day moving average is $113.17 and its 200 day moving average is $112.23. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.04 and a quick ratio of 1.04. 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 issued its quarterly earnings data on Friday, July 24th. The bank reported $1.96 EPS for the quarter, topping analysts' consensus estimates of $1.80 by $0.16. BancFirst had a net margin of 31.96% and a return on equity of 13.64%. The business had revenue of $187.49 million during the quarter, compared to analysts' expectations of $178.53 million. On average, equities research analysts anticipate that BancFirst Corporation will post 7.55 earnings per share for the current year.

BancFirst Announces Dividend

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

Institutional Trading of BancFirst

Several hedge funds and other institutional investors have recently bought and sold shares of BANF. Advisors Asset Management Inc. boosted its stake in BancFirst by 108.6% in the first quarter. Advisors Asset Management Inc. now owns 559 shares of the bank's stock valued at $61,000 after acquiring an additional 291 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of BancFirst by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,844 shares of the bank's stock valued at $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 lifted its holdings in shares of BancFirst by 8.0% during the 1st 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 purchasing an additional 3,433 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of BancFirst in the 1st quarter worth $3,646,000. Finally, Cetera Investment Advisers acquired a new stake in shares of BancFirst in the 2nd quarter worth $207,000. Institutional investors own 51.72% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Wall Street Zen upgraded BancFirst from a "sell" rating to a "hold" rating in a report on Saturday. Weiss Ratings lowered BancFirst from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, July 16th. Zacks Research upgraded shares of BancFirst from a "hold" rating to a "strong-buy" rating in a report on Monday. Finally, DA Davidson reissued a "neutral" rating and set a $125.00 target price on shares of BancFirst in a research report on Friday, June 12th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, BancFirst currently has a consensus rating of "Moderate Buy" and a consensus 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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