David Rainbolt Sells 17,830 Shares of BancFirst (NASDAQ:BANF) Stock

Key Points

• Director David Rainbolt sold 17,830 BancFirst shares at an average price of $115.06, generating approximately $2.05 million. His remaining ownership fell 56.9% to 13,506 shares.
• BancFirst recently reported quarterly earnings of $1.96 per share, beating estimates by $0.16, while revenue of $187.49 million also exceeded expectations.
• The stock traded near $114.59, and analysts maintain a “Moderate Buy” consensus with a $124 price target. BancFirst also pays a $0.49 quarterly dividend, yielding about 1.7%.

BancFirst Corporation (NASDAQ:BANF - Get Free Report) Director David Rainbolt sold 17,830 shares of BancFirst stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $115.06, for a total transaction of $2,051,519.80. Following the completion of the transaction, the director owned 13,506 shares of the company's stock, valued at $1,554,000.36. This represents a 56.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

BancFirst Stock Performance

Shares of NASDAQ:BANF traded up $0.59 during trading on Tuesday, hitting $114.59. 172,393 shares of the company were exchanged, compared to its average volume of 151,631. The company has a market cap of $3.85 billion, a PE ratio of 15.46 and a beta of 0.61. The stock has a 50 day moving average of $113.32 and a 200 day moving average of $112.32. BancFirst Corporation has a 52-week low of $101.48 and a 52-week high of $138.77. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.04 and a quick ratio of 1.04.

BancFirst (NASDAQ:BANF - Get Free Report) last announced its quarterly earnings results on Friday, July 24th. The bank reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.16. BancFirst had a return on equity of 13.64% and a net margin of 31.96%.The company had revenue of $187.49 million during the quarter, compared to analysts' expectations of $178.53 million. As a group, equities research analysts predict that BancFirst Corporation will post 7.67 EPS for the current year.

BancFirst Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Tuesday, June 30th. BancFirst's dividend payout ratio (DPR) is 26.45%.

Hedge Funds Weigh In On BancFirst

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Quarry LP raised its position in shares of BancFirst by 531.4% during the 3rd quarter. Quarry LP now owns 221 shares of the bank's stock valued at $28,000 after buying an additional 186 shares in the last quarter. Eagle Bay Advisors LLC purchased a new position in BancFirst in the fourth quarter worth $40,000. Kestra Advisory Services LLC purchased a new position in BancFirst in the fourth quarter worth $41,000. EverSource Wealth Advisors LLC increased its stake in BancFirst by 957.9% in the second quarter. EverSource Wealth Advisors LLC now owns 402 shares of the bank's stock valued at $50,000 after acquiring an additional 364 shares during the last quarter. Finally, Advisors Asset Management Inc. increased 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 during the last quarter. Hedge funds and other institutional investors own 51.72% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on BANF shares. Wall Street Zen upgraded shares of BancFirst from a "sell" rating to a "hold" rating in a research note on Saturday, July 25th. Zacks Research raised shares of BancFirst from a "hold" rating to a "strong-buy" rating in a report on Monday, July 27th. Weiss Ratings downgraded BancFirst from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, July 16th. Finally, DA Davidson restated a "neutral" rating and set a $125.00 target price on shares of BancFirst in a research report on Friday, June 12th. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $124.00.

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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