BancFirst Corporation $BANF Shares Sold by Hodges Capital Management Inc.

Key Points

• Hodges Capital Management Inc. reduced its stake in BancFirst Corporation by 49.0%, leaving it with 37,200 shares worth $4,087,000 as of the end of the first quarter.
• In response to positive financial results, BancFirst announced a dividend increase to $0.49 per share, effective October 15th, representing a 1.5% dividend yield.
• Analysts have revised BancFirst's price targets, with Keefe, Bruyette & Woods increasing theirs to $132.00, while maintaining a "market perform" rating for the stock.

Hodges Capital Management Inc. trimmed its position in shares of BancFirst Corporation (NASDAQ:BANF - Free Report) by 49.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 37,200 shares of the bank's stock after selling 35,800 shares during the period. Hodges Capital Management Inc. owned 0.11% of BancFirst worth $4,087,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its stake in BancFirst by 3.4% during the 1st quarter. Principal Financial Group Inc. now owns 108,842 shares of the bank's stock valued at $11,958,000 after purchasing an additional 3,594 shares during the period. Rhumbline Advisers boosted its stake in BancFirst by 16.1% during the 1st quarter. Rhumbline Advisers now owns 72,677 shares of the bank's stock valued at $7,985,000 after purchasing an additional 10,088 shares during the period. Voloridge Investment Management LLC boosted its stake in BancFirst by 32.0% during the 4th quarter. Voloridge Investment Management LLC now owns 66,104 shares of the bank's stock valued at $7,746,000 after purchasing an additional 16,010 shares during the period. GAMMA Investing LLC boosted its stake in BancFirst by 34,094.7% during the 1st quarter. GAMMA Investing LLC now owns 63,944 shares of the bank's stock valued at $7,026,000 after purchasing an additional 63,757 shares during the period. Finally, Public Sector Pension Investment Board boosted its stake in BancFirst by 27.7% during the 1st quarter. Public Sector Pension Investment Board now owns 63,235 shares of the bank's stock valued at $6,948,000 after purchasing an additional 13,704 shares during the period. 51.72% of the stock is owned by institutional investors and hedge funds.

BancFirst Stock Up 0.4%

BANF stock opened at $134.55 on Friday. BancFirst Corporation has a 52 week low of $97.02 and a 52 week high of $138.77. The company has a market capitalization of $4.48 billion, a price-to-earnings ratio of 19.36 and a beta of 0.79. The firm's 50-day moving average is $128.85 and its two-hundred day moving average is $121.22. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.05.

BancFirst (NASDAQ:BANF - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The bank reported $1.85 EPS for the quarter, topping analysts' consensus estimates of $1.67 by $0.18. BancFirst had a net margin of 24.94% and a return on equity of 14.16%. The company had revenue of $169.30 million for the quarter, compared to the consensus estimate of $163.62 million. On average, analysts forecast that BancFirst Corporation will post 6.52 earnings per share for the current fiscal year.

BancFirst Increases Dividend

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

Insider Activity at BancFirst

In related news, Director F Ford Drummond sold 5,000 shares of the business's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $126.29, for a total value of $631,450.00. Following the sale, the director directly owned 6,000 shares in the company, valued at $757,740. The trade was a 45.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 32.43% of the stock is owned by insiders.

Analysts Set New Price Targets

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

BancFirst Company 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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