BancFirst (NASDAQ:BANF) Given New $120.00 Price Target at Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods has lowered the price target for BancFirst (NASDAQ:BANF) from $132.00 to $120.00, maintaining a "market perform" rating, indicating a potential upside of 6.26% from the current price.
• BancFirst's quarterly earnings report revealed earnings per share of $1.85, which fell short of the consensus estimate of $1.87, despite revenue exceeding projections at $175.48 million.
• Insider trading was noted, with Director F Ford Drummond selling 5,000 shares at an average price of $126.29, which represents a 45.45% decrease in their ownership of the bank's stock.

BancFirst (NASDAQ:BANF - Get Free Report) had its target price reduced by analysts at Keefe, Bruyette & Woods from $132.00 to $120.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a "market perform" rating on the bank's stock. Keefe, Bruyette & Woods' price target would indicate a potential upside of 6.26% from the stock's current price.

Several other equities research analysts have also weighed in on BANF. Weiss Ratings reiterated a "buy (b-)" rating on shares of BancFirst in a report on Wednesday, October 8th. DA Davidson lifted their price target on shares of BancFirst from $120.00 to $136.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Wall Street Zen upgraded shares of BancFirst from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Finally, Zacks Research downgraded shares of BancFirst from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 16th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $128.00.

BancFirst Stock Performance

NASDAQ:BANF opened at $112.93 on Monday. The firm has a market capitalization of $3.76 billion, a PE ratio of 16.02 and a beta of 0.76. The firm has a 50-day moving average price of $128.49 and a 200 day moving average price of $124.06. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.05. BancFirst has a 12-month low of $97.02 and a 12-month high of $138.77.

BancFirst (NASDAQ:BANF - Get Free Report) last posted its quarterly earnings data on Friday, October 17th. The bank reported $1.85 earnings per share for the quarter, missing the consensus estimate of $1.87 by ($0.02). BancFirst had a return on equity of 14.19% and a net margin of 24.94%.The firm had revenue of $175.48 million for the quarter, compared to analyst estimates of $174.60 million. Research analysts anticipate that BancFirst will post 6.52 earnings per share for the current fiscal year.

Insider Buying and Selling at BancFirst

In related news, Director F Ford Drummond sold 5,000 shares of the company's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $126.29, for a total transaction of $631,450.00. Following the completion of the sale, the director directly owned 6,000 shares in the company, valued at $757,740. This represents a 45.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 32.43% of the company's stock.

Hedge Funds Weigh In On BancFirst

Several institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC increased its holdings in BancFirst by 211.2% in the 1st quarter. GAMMA Investing LLC now owns 582 shares of the bank's stock worth $64,000 after acquiring an additional 395 shares in the last quarter. Illinois Municipal Retirement Fund raised its holdings in shares of BancFirst by 6.0% in the first quarter. Illinois Municipal Retirement Fund now owns 10,904 shares of the bank's stock valued at $1,198,000 after acquiring an additional 618 shares in the last quarter. Smith Group Asset Management LLC purchased a new position in BancFirst in the first quarter valued at about $220,000. Principal Financial Group Inc. grew its stake in shares of BancFirst by 3.4% during the first quarter. Principal Financial Group Inc. now owns 108,842 shares of the bank's stock worth $11,958,000 after acquiring an additional 3,594 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in shares of BancFirst by 1.2% during the first quarter. Envestnet Asset Management Inc. now owns 29,206 shares of the bank's stock worth $3,209,000 after acquiring an additional 349 shares during the last quarter. Institutional investors own 51.72% of the company's stock.

About BancFirst

BancFirst Corporation operates as the bank holding company for BancFirst that provides a range of commercial banking services to retail customers, and small to medium-sized businesses. The company operates through BancFirst Metropolitan Banks, BancFirst Community Banks, Pegasus, Worthington, and Other Financial Services segments.

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