BancFirst Corporation $BANF is BancFirst Trust & Investment Management's Largest Position

Key Points

• BancFirst Corporation (BANF) is the largest holding of BancFirst Trust & Investment Management, accounting for about 50.9% of the fund’s investments with a total valuation of approximately $109.9 million.
• The bank recently reported an earnings per share of $1.85, exceeding expectations and also announced a quarterly dividend increase to $0.49 per share, set to be paid on October 15th.
• Analysts have raised their price targets for BancFirst, with Keefe, Bruyette & Woods setting a target of $132.00 and DA Davidson increasing theirs to $136.00, reflecting a generally positive sentiment towards the stock.

BancFirst Trust & Investment Management reduced its position in BancFirst Corporation (NASDAQ:BANF - Free Report) by 0.3% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 879,515 shares of the bank's stock after selling 3,030 shares during the period. BancFirst accounts for about 50.9% of BancFirst Trust & Investment Management's holdings, making the stock its biggest holding. BancFirst Trust & Investment Management owned 2.65% of BancFirst worth $109,948,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pinnacle Holdings LLC purchased a new stake in shares of BancFirst in the 1st quarter valued at about $40,000. Advisors Asset Management Inc. lifted its holdings in shares of BancFirst by 108.6% in the 1st quarter. Advisors Asset Management Inc. now owns 559 shares of the bank's stock valued at $61,000 after purchasing an additional 291 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of BancFirst by 211.2% in the 1st quarter. GAMMA Investing LLC now owns 582 shares of the bank's stock valued at $64,000 after purchasing an additional 395 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of BancFirst in the 4th quarter valued at about $135,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of BancFirst in the 1st quarter valued at about $181,000. 51.72% of the stock is owned by hedge funds and other institutional investors.

BancFirst Stock Down 0.8%

BANF opened at $133.54 on Friday. The business has a 50 day moving average price of $128.89 and a two-hundred day moving average price of $121.33. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.05. The company has a market cap of $4.45 billion, a PE ratio of 19.21 and a beta of 0.79. BancFirst Corporation has a 52 week low of $97.02 and a 52 week high of $138.77.

BancFirst (NASDAQ:BANF - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The bank reported $1.85 EPS for the quarter, beating the consensus estimate of $1.67 by $0.18. The firm had revenue of $169.30 million during the quarter, compared to the consensus estimate of $163.62 million. BancFirst had a return on equity of 14.16% and a net margin of 24.94%. As a group, research analysts anticipate that BancFirst Corporation will post 6.52 EPS for the current year.

BancFirst Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 1.5%. The ex-dividend date is Tuesday, September 30th. This is a positive change from BancFirst's previous quarterly dividend of $0.46. BancFirst's payout ratio is presently 26.47%.

Insider Transactions at BancFirst

In other BancFirst news, Director F Ford Drummond sold 5,000 shares of the business's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $126.29, for a total transaction of $631,450.00. Following the transaction, the director owned 6,000 shares in the company, valued at approximately $757,740. The trade was a 45.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 32.43% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on BANF shares. Wall Street Zen raised BancFirst from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Keefe, Bruyette & Woods boosted their target price on BancFirst from $123.00 to $132.00 and gave the company a "market perform" rating in a report on Friday, July 18th. Finally, DA Davidson upped their price objective on BancFirst from $120.00 to $136.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, BancFirst presently has an average rating of "Hold" and a consensus target price of $134.00.

BancFirst 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.

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