BancFirst (NASDAQ:BANF) Director Sells $715,620.33 in Stock

Key Points

• Director David Rainbolt sold 6,219 shares for $715,620.33 (avg. $115.07) on May 6, trimming his stake by 3.42% to 175,784 shares valued at roughly $20.23 million, per an SEC filing.
• BancFirst posted an EPS beat ($1.85 vs. $1.77), and its stock trades near $113.24 with a market cap of about $3.8 billion, a P/E of 15.51, and a $0.49 quarterly dividend (≈1.7% yield).
• Analysts have a consensus Hold rating with a $124 price target, and institutional investors own roughly 51.7% of the company.

BancFirst Corporation (NASDAQ:BANF - Get Free Report) Director David Rainbolt sold 6,219 shares of BancFirst stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $115.07, for a total value of $715,620.33. Following the completion of the transaction, the director owned 175,784 shares in the company, valued at approximately $20,227,464.88. The trade was a 3.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

BancFirst Price Performance

Shares of BANF traded down $1.27 during midday trading on Thursday, hitting $113.24. The company's stock had a trading volume of 122,048 shares, compared to its average volume of 134,442. BancFirst Corporation has a one year low of $101.48 and a one year high of $138.77. The company's fifty day simple moving average is $110.81 and its two-hundred day simple moving average is $111.32. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $3.80 billion, a price-to-earnings ratio of 15.51 and a beta of 0.60.

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

BancFirst Announces Dividend

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on BANF. Keefe, Bruyette & Woods lifted their price target on BancFirst from $120.00 to $123.00 and gave the company a "market perform" rating in a research note on Friday, January 23rd. Weiss Ratings upgraded BancFirst from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, April 16th. Finally, DA Davidson restated a "neutral" rating and set a $125.00 price objective on shares of BancFirst in a research report on Monday, April 20th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, BancFirst has a consensus rating of "Hold" and a consensus price target of $124.00.

Institutional Investors Weigh In On BancFirst

Hedge funds and other institutional investors have recently bought and sold shares of the company. Envestnet Asset Management Inc. grew its position in BancFirst by 49.4% during 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. grew its position in BancFirst by 14.5% during the 3rd quarter. Principal Financial Group Inc. now owns 113,346 shares of the bank's stock worth $14,333,000 after acquiring an additional 14,333 shares during the last quarter. Clark Capital Management Group Inc. grew its position in BancFirst by 37.6% during the 3rd quarter. Clark Capital Management Group Inc. now owns 62,605 shares of the bank's stock worth $7,916,000 after acquiring an additional 17,092 shares during the last quarter. Public Sector Pension Investment Board grew its position in BancFirst by 18.4% during the 3rd quarter. Public Sector Pension Investment Board now owns 80,535 shares of the bank's stock worth $10,184,000 after acquiring an additional 12,535 shares during the last quarter. Finally, SG Americas Securities LLC grew its position in BancFirst by 1,012.1% during the 4th quarter. SG Americas Securities LLC now owns 11,722 shares of the bank's stock worth $1,243,000 after acquiring an additional 10,668 shares during the last quarter. 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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