David Rainbolt Sells 9,001 Shares of BancFirst (NASDAQ:BANF) Stock

Key Points

• David Rainbolt sold 9,001 BancFirst shares on May 7 at an average price of $115.11 for proceeds of $1,036,105.11, trimming his stake by 5.12% to 166,783 shares.
• BancFirst shares traded at $113.24 that day (12‑month range $101.48–$138.77) with a market cap of $3.8B and a P/E of 15.51, and the company beat Q1 estimates with EPS of $1.85 versus $1.77 and a 31.71% net margin.
• The bank pays a quarterly dividend of $0.49 (annualized $1.96, yield ~1.7%), and analysts have an average rating of Hold with a consensus price target of $124 (one Buy, three Hold).

BancFirst Corporation (NASDAQ:BANF - Get Free Report) Director David Rainbolt sold 9,001 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $115.11, for a total transaction of $1,036,105.11. Following the transaction, the director owned 166,783 shares in the company, valued at $19,198,391.13. The trade was a 5.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

BancFirst Price Performance

NASDAQ BANF traded down $1.27 on Thursday, reaching $113.24. 122,048 shares of the company's stock traded hands, compared to its average volume of 134,442. BancFirst Corporation has a 12 month low of $101.48 and a 12 month high of $138.77. 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 stock has a 50-day simple moving average of $110.81 and a 200 day simple moving average of $111.32. The stock has a market cap of $3.80 billion, a PE ratio of 15.51 and a beta of 0.60.

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

BancFirst Dividend Announcement

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

Analyst Ratings Changes

Several research analysts have recently issued reports on BANF shares. DA Davidson restated a "neutral" rating and issued a $125.00 target price on shares of BancFirst in a report on Monday, April 20th. Keefe, Bruyette & Woods raised their target price on shares of BancFirst from $120.00 to $123.00 and gave the stock a "market perform" rating in a report on Friday, January 23rd. Finally, Weiss Ratings upgraded shares of BancFirst from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, April 16th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, BancFirst presently has an average rating of "Hold" and a consensus price target of $124.00.

Institutional Trading of BancFirst

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BANF. Advisors Asset Management Inc. lifted its stake in BancFirst by 108.6% in the first 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 period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in BancFirst by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,844 shares of the bank's stock worth $1,301,000 after acquiring an additional 505 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in BancFirst by 8.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 46,396 shares of the bank's stock worth $5,098,000 after acquiring an additional 3,433 shares during the period. Jane Street Group LLC purchased a new stake in BancFirst in the first quarter worth $3,646,000. Finally, Cetera Investment Advisers purchased a new stake in BancFirst in the second quarter worth $207,000. Hedge funds and other institutional investors own 51.72% of the company's stock.

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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