BancFirst (NASDAQ:BANF) Sets New 12-Month High on Earnings Beat

BancFirst Corporation (NASDAQ:BANF - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Thursday following a better than expected earnings announcement. The company traded as high as $132.59 and last traded at $132.12, with a volume of 103631 shares trading hands. The stock had previously closed at $127.81.

The bank reported $1.85 EPS for the quarter, beating the consensus estimate of $1.67 by $0.18. BancFirst had a net margin of 24.05% and a return on equity of 14.38%. The firm had revenue of $169.30 million for the quarter, compared to analyst estimates of $163.62 million.

BancFirst Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend was Monday, June 30th. BancFirst's payout ratio is 26.47%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. DA Davidson raised their price target on BancFirst from $120.00 to $136.00 and gave the stock a "neutral" rating in a research report on Monday. Wall Street Zen downgraded BancFirst from a "hold" rating to a "sell" rating in a research report on Friday. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of BancFirst from $123.00 to $132.00 and gave the stock a "market perform" rating in a research report on Friday.

Insiders Place Their Bets

In related news, Director F Ford Drummond sold 5,000 shares of the firm's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $124.12, for a total value of $620,600.00. Following the transaction, the director owned 6,000 shares in the company, valued at $744,720. This trade represents a 45.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Randy Foraker sold 4,000 shares of the firm's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $126.61, for a total value of $506,440.00. The disclosure for this sale can be found here. Insiders own 32.43% of the company's stock.

Hedge Funds Weigh In On BancFirst

A number of large investors have recently made changes to their positions in BANF. Pinnacle Holdings LLC purchased a new stake in BancFirst during the 1st quarter valued at $40,000. Sterling Capital Management LLC boosted its stake in shares of BancFirst by 779.4% during the fourth quarter. Sterling Capital Management LLC now owns 554 shares of the bank's stock valued at $65,000 after purchasing an additional 491 shares in the last quarter. 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. GAMMA Investing LLC lifted its stake in shares of BancFirst by 211.2% during the first quarter. GAMMA Investing LLC now owns 582 shares of the bank's stock worth $64,000 after buying an additional 395 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of BancFirst during the fourth quarter worth $135,000. 51.72% of the stock is owned by institutional investors.

BancFirst Stock Performance

The firm has a market cap of $4.43 billion, a price-to-earnings ratio of 19.16 and a beta of 0.77. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.05. The business's 50-day simple moving average is $125.53 and its two-hundred day simple moving average is $118.54.

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.