BancFirst Corporation $BANF Shares Sold by First Trust Advisors LP

Key Points

• First Trust Advisors LP cut its BancFirst stake by 51.3% in the first quarter, selling 37,704 shares and retaining 35,819 shares worth approximately $3.9 million. Institutional investors collectively own 51.72% of BANF.
• Insider selling has been significant: Director David E. Rainbolt sold 17,830 shares for about $2.05 million, while insiders have sold 153,277 shares worth $17.8 million over the past 90 days.
• BancFirst exceeded quarterly expectations, reporting $1.96 in EPS versus the $1.80 consensus and revenue of $187.49 million versus $178.53 million expected. Analysts maintain a “Moderate Buy” consensus with an average $123 price target, and the company pays a $0.49 quarterly dividend.

First Trust Advisors LP decreased its position in shares of BancFirst Corporation (NASDAQ:BANF - Free Report) by 51.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,819 shares of the bank's stock after selling 37,704 shares during the quarter. First Trust Advisors LP owned 0.11% of BancFirst worth $3,886,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of BANF. Quarry LP grew its holdings in shares of BancFirst by 531.4% in the 3rd quarter. Quarry LP now owns 221 shares of the bank's stock worth $28,000 after acquiring an additional 186 shares during the period. Eagle Bay Advisors LLC acquired a new position in BancFirst during the fourth quarter worth $40,000. Kestra Advisory Services LLC acquired a new position in BancFirst during the fourth quarter worth $41,000. EverSource Wealth Advisors LLC boosted its position in BancFirst by 957.9% during the second quarter. EverSource Wealth Advisors LLC now owns 402 shares of the bank's stock worth $50,000 after purchasing an additional 364 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its position in BancFirst by 108.6% during the first quarter. Advisors Asset Management Inc. now owns 559 shares of the bank's stock worth $61,000 after purchasing an additional 291 shares in the last quarter. Institutional investors and hedge funds own 51.72% of the company's stock.

Insider Activity at BancFirst

In other news, Director David E. Rainbolt sold 17,830 shares of the business's stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $115.06, for a total value 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. The trade was a 56.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 153,277 shares of company stock worth $17,813,259 in the last ninety days. Insiders own 31.67% of the company's stock.

Wall Street Analysts Forecast Growth

BANF has been the subject of a number of research analyst reports. Wall Street Zen upgraded BancFirst from a "sell" rating to a "hold" rating in a research report on Saturday, July 25th. Weiss Ratings lowered shares of BancFirst from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, July 16th. Zacks Research upgraded shares of BancFirst from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 27th. Keefe, Bruyette & Woods lowered their price objective on shares of BancFirst from $123.00 to $121.00 and set a "market perform" rating on the stock in a research note on Wednesday. Finally, DA Davidson restated a "neutral" rating and set a $125.00 target price on shares of BancFirst in a report on Friday, June 12th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $123.00.

BancFirst Stock Performance

BancFirst stock opened at $114.12 on Thursday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a fifty day moving average of $113.43 and a two-hundred day moving average of $112.34. The company has a market capitalization of $3.83 billion, a price-to-earnings ratio of 15.40 and a beta of 0.61. BancFirst Corporation has a fifty-two week low of $101.48 and a fifty-two week high of $138.77.

BancFirst (NASDAQ:BANF - Get Free Report) last released its quarterly earnings results on Friday, July 24th. The bank reported $1.96 earnings per share for the quarter, topping analysts' consensus estimates 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. On average, analysts anticipate that BancFirst Corporation will post 7.67 EPS for the current fiscal year.

BancFirst Announces Dividend

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

BancFirst 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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