BancFirst (NASDAQ:BANF) Director Sells 3,000 Shares of Stock

Key Points

• Director David Rainbolt sold 3,000 BancFirst shares at an average price of $115, generating $345,000 and reducing his direct holdings by 26.07% to 8,506 shares.
• BancFirst reported quarterly EPS of $1.96, beating estimates of $1.80, while revenue of $187.49 million also exceeded analyst expectations.
• The stock recently traded near $113.33, and analysts maintain a “Moderate Buy” consensus with an average price target of $123; the company also pays a $0.49 quarterly dividend, yielding about 1.7%.

BancFirst Corporation (NASDAQ:BANF - Get Free Report) Director David Rainbolt sold 3,000 shares of the company's stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $115.00, for a total transaction of $345,000.00. Following the completion of the sale, the director directly owned 8,506 shares in the company, valued at approximately $978,190. The trade was a 26.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

BancFirst Price Performance

Shares of BancFirst stock traded down $0.79 during mid-day trading on Thursday, reaching $113.33. 120,670 shares of the stock were exchanged, compared to its average volume of 151,082. BancFirst Corporation has a fifty-two week low of $101.48 and a fifty-two week high of $138.77. The company has a market cap of $3.81 billion, a price-to-earnings ratio of 15.29 and a beta of 0.61. The firm has a 50-day simple moving average of $113.43 and a 200 day simple moving average of $112.34. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.05.

BancFirst (NASDAQ:BANF - Get Free Report) last released its quarterly earnings results on Friday, July 24th. The bank reported $1.96 EPS for the quarter, beating analysts' consensus estimates of $1.80 by $0.16. The firm had revenue of $187.49 million for the quarter, compared to analyst estimates of $178.53 million. BancFirst had a net margin of 31.96% and a return on equity of 13.64%. On average, sell-side analysts predict that BancFirst Corporation will post 7.67 EPS for the current fiscal year.

BancFirst Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a $0.49 dividend. 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 payout ratio is presently 26.45%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Advisors Asset Management Inc. raised its position in shares of BancFirst by 108.6% during the first quarter. Advisors Asset Management Inc. now owns 559 shares of the bank's stock worth $61,000 after acquiring an additional 291 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in BancFirst by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,844 shares of the bank's stock worth $1,301,000 after purchasing an additional 505 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in BancFirst by 8.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 46,396 shares of the bank's stock worth $5,098,000 after purchasing an additional 3,433 shares during the period. Jane Street Group LLC bought a new stake in BancFirst during the 1st quarter worth about $3,646,000. Finally, Cetera Investment Advisers bought a new stake in BancFirst during the 2nd quarter worth about $207,000. Institutional investors and hedge funds own 51.72% of the company's stock.

Analysts Set New Price Targets

BANF has been the subject of a number of recent analyst reports. Weiss Ratings cut BancFirst from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, July 16th. Keefe, Bruyette & Woods decreased their target price on BancFirst from $123.00 to $121.00 and set a "market perform" rating on the stock in a report on Wednesday. DA Davidson restated a "neutral" rating and issued a $125.00 target price on shares of BancFirst in a research note on Friday, June 12th. Zacks Research raised BancFirst from a "hold" rating to a "strong-buy" rating in a report on Monday, July 27th. Finally, Wall Street Zen upgraded shares of BancFirst from a "sell" rating to a "hold" rating in a research report on Saturday, July 25th. One analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $123.00.

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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