David Rainbolt Sells 650 Shares of BancFirst (NASDAQ:BANF) Stock

Key Points

• Director David Rainbolt sold 650 shares on April 24 at an average price of $115.02 for proceeds of $74,763, trimming his position by 0.31% but leaving him with 206,823 shares worth about $23.79M.
• BancFirst beat quarterly estimates with $1.85 EPS (vs. $1.77 est.) and $179M revenue, reports strong margins and ROE, pays a quarterly dividend of $0.49 (1.7% yield), and carries an average analyst price target of $124 with a consensus "Hold".

BancFirst Corporation (NASDAQ:BANF - Get Free Report) Director David Rainbolt sold 650 shares of the firm's stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $115.02, for a total transaction of $74,763.00. Following the completion of the transaction, the director owned 206,823 shares in the company, valued at $23,788,781.46. The trade was a 0.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

BancFirst Trading Down 1.1%

NASDAQ BANF traded down $1.32 during mid-day trading on Friday, hitting $113.53. The company's stock had a trading volume of 70,615 shares, compared to its average volume of 135,562. BancFirst Corporation has a 52-week low of $101.48 and a 52-week high of $138.77. The stock's fifty day simple moving average is $111.14 and its two-hundred day simple moving average is $111.94. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market capitalization of $3.81 billion, a P/E ratio of 15.55 and a beta of 0.61.

BancFirst (NASDAQ:BANF - Get Free Report) last posted its quarterly earnings results on Thursday, April 16th. The bank reported $1.85 EPS for the quarter, beating the consensus estimate of $1.77 by $0.08. BancFirst had a net margin of 31.71% and a return on equity of 13.84%. The firm had revenue of $179.00 million for the quarter, compared to analyst estimates of $177.19 million. During the same quarter last year, the firm posted $1.66 earnings per share. Research analysts expect that BancFirst Corporation will post 7.36 EPS for the current year.

BancFirst Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were paid a dividend of $0.49 per share. The ex-dividend date was Tuesday, March 31st. This represents a $1.96 dividend on an annualized basis and a dividend yield of 1.7%. BancFirst's dividend payout ratio (DPR) is currently 26.85%.

Institutional Trading of BancFirst

Hedge funds have recently made changes to their positions in the company. State Street Corp grew its position in shares of BancFirst by 7.6% during the fourth quarter. State Street Corp now owns 1,375,873 shares of the bank's stock worth $146,537,000 after buying an additional 96,957 shares in the last quarter. Norges Bank acquired a new stake in shares of BancFirst during the fourth quarter worth approximately $27,723,000. Verition Fund Management LLC grew its position in shares of BancFirst by 30.8% during the fourth quarter. Verition Fund Management LLC now owns 168,591 shares of the bank's stock worth $17,874,000 after buying an additional 39,672 shares in the last quarter. Invesco Ltd. grew its position in shares of BancFirst by 73.4% during the third quarter. Invesco Ltd. now owns 163,512 shares of the bank's stock worth $20,676,000 after buying an additional 69,192 shares in the last quarter. Finally, Raymond James Financial Inc. grew its position in shares of BancFirst by 33.5% during the third quarter. Raymond James Financial Inc. now owns 134,175 shares of the bank's stock worth $16,966,000 after buying an additional 33,636 shares in the last quarter. Hedge funds and other institutional investors own 51.72% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on BANF shares. DA Davidson reiterated a "neutral" rating and set a $125.00 price objective on shares of BancFirst in a research note on Monday. Keefe, Bruyette & Woods lifted their price objective on shares of BancFirst from $120.00 to $123.00 and gave the company a "market perform" rating in a research note on Friday, January 23rd. Finally, Weiss Ratings upgraded shares of BancFirst from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, April 16th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $124.00.

About BancFirst

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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