BancFirst (NASDAQ:BANF) Director Sells 12,718 Shares

Key Points

• Director David Rainbolt sold 12,718 BancFirst shares at an average price of $115.05, generating approximately $1.46 million and reducing his position by 22.89% to 42,833 shares.
• BancFirst reported quarterly EPS of $1.96, beating estimates of $1.80, while revenue of $187.49 million also exceeded expectations. The bank maintains a quarterly dividend of $0.49 per share, equivalent to a 1.7% yield.
• The stock recently traded at $113.47, and analysts assign it a “Moderate Buy” consensus rating with an average price target of $124.00.

BancFirst Corporation (NASDAQ:BANF - Get Free Report) Director David Rainbolt sold 12,718 shares of the stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $115.05, for a total value of $1,463,205.90. Following the sale, the director owned 42,833 shares of the company's stock, valued at $4,927,936.65. This represents a 22.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

BancFirst Price Performance

NASDAQ BANF traded down $2.25 during trading hours on Wednesday, reaching $113.47. The company's stock had a trading volume of 139,657 shares, compared to its average volume of 151,467. BancFirst Corporation has a 1 year low of $101.48 and a 1 year high of $138.77. 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 $3.81 billion, a price-to-earnings ratio of 15.31 and a beta of 0.59. The firm's 50-day moving average price is $113.17 and its 200-day moving average price is $112.23.

BancFirst (NASDAQ:BANF - Get Free Report) last announced its quarterly earnings data on Friday, July 24th. The bank reported $1.96 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $178.53 million. On average, equities research analysts predict that BancFirst Corporation will post 7.55 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 issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Tuesday, June 30th. BancFirst's dividend payout ratio is 26.45%.

Analysts Set New Price Targets

Several equities analysts have weighed in on BANF shares. DA Davidson restated a "neutral" rating and set a $125.00 price target on shares of BancFirst in a report on Friday, June 12th. Zacks Research upgraded shares of BancFirst from a "hold" rating to a "strong-buy" rating in a research report on Monday. Wall Street Zen upgraded shares of BancFirst from a "sell" rating to a "hold" rating in a research report on Saturday. Finally, Weiss Ratings downgraded shares of BancFirst from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $124.00.

Hedge Funds Weigh In On BancFirst

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP raised its holdings in BancFirst by 531.4% during the 3rd quarter. Quarry LP now owns 221 shares of the bank's stock valued at $28,000 after buying an additional 186 shares during the period. Allworth Financial LP increased its position in BancFirst by 47.5% during the third quarter. Allworth Financial LP now owns 295 shares of the bank's stock valued at $37,000 after acquiring an additional 95 shares during the last quarter. Eagle Bay Advisors LLC bought a new position in BancFirst during the fourth quarter valued at $40,000. Kestra Advisory Services LLC purchased a new stake in shares of BancFirst in the fourth quarter valued at $41,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of BancFirst by 957.9% in the second quarter. EverSource Wealth Advisors LLC now owns 402 shares of the bank's stock valued at $50,000 after acquiring an additional 364 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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