Hodges Capital Management Inc. Has $4.09 Million Stock Holdings in BancFirst Corporation $BANF

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. cut its holdings in shares of BancFirst Corporation (NASDAQ:BANF - Free Report) by 49.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,200 shares of the bank's stock after selling 35,800 shares during the quarter. Hodges Capital Management Inc. owned approximately 0.11% of BancFirst worth $4,087,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BANF. Baird Financial Group Inc. bought a new stake in BancFirst during the 4th quarter worth about $203,000. Cubist Systematic Strategies LLC bought a new stake in BancFirst during the 4th quarter worth about $135,000. Deutsche Bank AG lifted its position in BancFirst by 50.0% during the 4th quarter. Deutsche Bank AG now owns 18,960 shares of the bank's stock worth $2,222,000 after buying an additional 6,318 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in BancFirst by 3.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,339 shares of the bank's stock worth $1,329,000 after buying an additional 406 shares in the last quarter. Finally, Millennium Management LLC lifted its position in BancFirst by 31.2% during the 4th quarter. Millennium Management LLC now owns 38,098 shares of the bank's stock worth $4,464,000 after buying an additional 9,064 shares in the last quarter. 51.72% of the stock is owned by institutional investors.

BancFirst Stock Performance

BANF traded up $2.80 on Wednesday, reaching $131.77. The company had a trading volume of 27,983 shares, compared to its average volume of 113,701. BancFirst Corporation has a fifty-two week low of $97.02 and a fifty-two week high of $138.77. The stock has a market cap of $4.39 billion, a P/E ratio of 18.96 and a beta of 0.79. The company's fifty day moving average is $128.95 and its 200 day moving average is $121.54. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.01 and a current ratio of 1.01.

BancFirst (NASDAQ:BANF - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The bank reported $1.85 EPS for the quarter, beating 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 business had revenue of $169.30 million for the quarter, compared to analyst estimates of $163.62 million. As a group, analysts predict 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. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.49 per share. 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 a boost from BancFirst's previous quarterly dividend of $0.46. BancFirst's dividend payout ratio (DPR) is currently 26.47%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Wall Street Zen raised shares of BancFirst from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Keefe, Bruyette & Woods upped their target price on shares of 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 target price on shares of BancFirst from $120.00 to $136.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, BancFirst presently has a consensus rating of "Hold" and an average price target of $134.00.

Insider Activity

In other BancFirst news, Director F Ford Drummond sold 5,000 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were 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 $757,740. This represents a 45.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 32.43% of the stock is currently owned by insiders.

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.