BancFirst Corporation $BANF Stake Lowered by Advantage Alpha Capital Partners LP

Key Points

• Advantage Alpha Capital Partners LP has reduced its stake in BancFirst Corporation by 60.8%, owning only 2,279 shares after selling 3,533 during the first quarter.
• Several institutional investors have made changes in their holdings of BancFirst, with companies like Pinnacle Holdings LLC and GAMMA Investing LLC purchasing new positions, as overall 51.72% of the stock is now owned by such investors.
• Wall Street analysts have generally upgraded BancFirst's outlook, with a consensus rating of "Hold" and a price target increase from $120 to an average of $134.00.

Advantage Alpha Capital Partners LP reduced its stake in shares of BancFirst Corporation (NASDAQ:BANF - Free Report) by 60.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,279 shares of the bank's stock after selling 3,533 shares during the period. Advantage Alpha Capital Partners LP's holdings in BancFirst were worth $250,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of BANF. Pinnacle Holdings LLC purchased a new position in shares of BancFirst during the 1st quarter valued at $40,000. GAMMA Investing LLC grew its holdings in shares of BancFirst by 211.2% during the 1st quarter. GAMMA Investing LLC now owns 582 shares of the bank's stock valued at $64,000 after acquiring an additional 395 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of BancFirst during the 4th quarter valued at $135,000. Meeder Asset Management Inc. purchased a new position in shares of BancFirst during the 1st quarter valued at $181,000. Finally, Baird Financial Group Inc. purchased a new position in shares of BancFirst during the 4th quarter valued at $203,000. 51.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

BancFirst Stock Up 5.9%

BancFirst stock opened at $132.90 on Friday. The firm has a market cap of $4.43 billion, a price-to-earnings ratio of 19.12 and a beta of 0.76. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.01 and a quick ratio of 1.01. BancFirst Corporation has a fifty-two week low of $97.02 and a fifty-two week high of $137.40. The firm has a fifty day moving average price of $125.88 and a two-hundred day moving average price of $119.87.

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

Insider Activity at BancFirst

In other news, Director F Ford Drummond sold 5,000 shares of the company's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $126.29, for a total transaction of $631,450.00. Following the completion of the transaction, the director owned 6,000 shares of the company's stock, valued at approximately $757,740. This represents a 45.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 32.43% of the company's stock.

About BancFirst

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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