BancFirst (NASDAQ:BANF) Releases Earnings Results

BancFirst (NASDAQ:BANF - Get Free Report) posted its quarterly earnings results on Thursday. The bank reported $1.85 earnings per share for the quarter, beating analysts' consensus estimates of $1.67 by $0.18, Zacks reports. The business had revenue of $169.30 million for the quarter, compared to analysts' expectations of $163.62 million. BancFirst had a return on equity of 14.38% and a net margin of 24.05%.

BancFirst Price Performance

Shares of NASDAQ:BANF traded up $4.02 during trading on Friday, reaching $135.30. 231,659 shares of the company traded hands, compared to its average volume of 111,961. The firm has a market capitalization of $4.50 billion, a PE ratio of 19.47 and a beta of 0.77. BancFirst has a 52 week low of $95.78 and a 52 week high of $137.40. 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's 50 day moving average is $125.53 and its two-hundred day moving average is $118.52.

BancFirst Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors 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 yield of 1.36%. The ex-dividend date was Monday, June 30th. BancFirst's dividend payout ratio is currently 26.47%.

Analysts Set New Price Targets

BANF has been the subject of several research reports. Wall Street Zen downgraded shares of BancFirst from a "hold" rating to a "sell" rating in a research report on Friday. Keefe, Bruyette & Woods lifted their price target on BancFirst from $123.00 to $132.00 and gave the stock a "market perform" rating in a report on Friday.

Insiders Place Their Bets

In other news, EVP Randy Foraker sold 4,000 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $126.61, for a total value of $506,440.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director F Ford Drummond sold 5,000 shares of BancFirst stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $124.12, for a total value of $620,600.00. Following the completion of the transaction, the director owned 6,000 shares in the company, valued at approximately $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 company insiders.

Institutional Investors Weigh In On BancFirst

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Jane Street Group LLC acquired a new stake in shares of BancFirst during the 1st quarter valued at $3,646,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in BancFirst by 8.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 46,396 shares of the bank's stock valued at $5,098,000 after buying an additional 3,433 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in BancFirst by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,844 shares of the bank's stock worth $1,301,000 after buying an additional 505 shares during the period. Finally, Advisors Asset Management Inc. grew its holdings in BancFirst by 108.6% during the 1st 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. 51.72% of the stock is owned by institutional investors.

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.