BancFirst (NASDAQ:BANF) Hits New 52-Week High Following Better-Than-Expected Earnings

Shares of BancFirst Corporation (NASDAQ:BANF - Get Free Report) reached a new 52-week high on Thursday following a better than expected earnings announcement. The stock 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 earnings per share for the quarter, beating analysts' consensus estimates of $1.67 by $0.18. The business had revenue of $169.30 million during the quarter, compared to the consensus estimate of $163.62 million. BancFirst had a net margin of 24.05% and a return on equity of 14.38%.

BancFirst Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date was Monday, June 30th. BancFirst's dividend payout ratio is presently 27.84%.

Wall Street Analyst Weigh In

Several analysts have weighed in on BANF shares. Wall Street Zen cut shares of BancFirst from a "hold" rating to a "sell" rating in a research note on Friday. Keefe, Bruyette & Woods lifted their price target on shares of BancFirst from $123.00 to $132.00 and gave the company a "market perform" rating in a report on Friday.

Insider Buying and Selling

In related news, EVP Randy Foraker sold 4,000 shares of the business's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $126.61, for a total transaction of $506,440.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director F Ford Drummond sold 5,000 shares of the business's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $124.12, for a total transaction of $620,600.00. Following the transaction, the director owned 6,000 shares in the company, valued at $744,720. The trade was a 45.45% decrease in their position. The disclosure for this sale can be found here. 32.43% of the stock is currently owned by insiders.

Institutional Trading of BancFirst

Several institutional investors and hedge funds have recently made changes to their positions in BANF. Hsbc Holdings PLC boosted its position in BancFirst by 4.4% during the first quarter. Hsbc Holdings PLC now owns 2,419 shares of the bank's stock worth $265,000 after purchasing an additional 101 shares during the period. SummerHaven Investment Management LLC boosted its position in shares of BancFirst by 1.4% in the first quarter. SummerHaven Investment Management LLC now owns 8,839 shares of the bank's stock valued at $971,000 after acquiring an additional 121 shares during the period. Summit Investment Advisors Inc. boosted its position in shares of BancFirst by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,085 shares of the bank's stock valued at $244,000 after acquiring an additional 133 shares during the period. Capstone Triton Financial Group LLC boosted its position in shares of BancFirst by 1.1% in the fourth quarter. Capstone Triton Financial Group LLC now owns 13,403 shares of the bank's stock valued at $1,571,000 after acquiring an additional 145 shares during the period. Finally, Stifel Financial Corp boosted its position in shares of BancFirst by 0.4% in the fourth quarter. Stifel Financial Corp now owns 38,005 shares of the bank's stock valued at $4,453,000 after acquiring an additional 155 shares during the period. Hedge funds and other institutional investors own 51.72% of the company's stock.

BancFirst Price Performance

The business's 50-day moving average price is $125.53 and its 200 day moving average price is $118.51. 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 company has a market capitalization of $4.50 billion, a P/E ratio of 19.47 and a beta of 0.77.

BancFirst Company Profile

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.