BancFirst Corporation $BANF Stock Sold by Curated Wealth Partners LLC

Key Points

• Curated Wealth Partners cut its BancFirst stake by 84.2% in the third quarter, selling 19,146 shares and retaining 3,595 shares valued at approximately $378,000. Institutional investors collectively own 51.72% of the company.
• BancFirst reported quarterly earnings of $1.96 per share, beating estimates of $1.80, while revenue of $187.49 million also exceeded expectations. The company increased its quarterly dividend to $0.52 per share, implying a 1.9% annualized yield.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $123 versus the stock’s $109.03 price. Insiders have sold 166,783 shares worth about $19.4 million over the past 90 days.

Curated Wealth Partners LLC lessened its holdings in shares of BancFirst Corporation (NASDAQ:BANF - Free Report) by 84.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,595 shares of the bank's stock after selling 19,146 shares during the period. Curated Wealth Partners LLC's holdings in BancFirst were worth $378,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in shares of BancFirst during the 2nd quarter worth approximately $356,054,000. Bank of New York Mellon Corp purchased a new position in shares of BancFirst in the 2nd quarter worth about $17,920,000. Bank of America Corp DE bought a new stake in BancFirst during the 2nd quarter valued at about $10,992,000. Legal & General Group Plc purchased a new stake in shares of BancFirst during the second quarter valued at approximately $5,400,000. Finally, Sei Investments Co. lifted its position in BancFirst by 21.8% in the 1st quarter. Sei Investments Co. now owns 44,699 shares of the bank's stock valued at $4,850,000 after acquiring an additional 7,986 shares in the last quarter. Institutional investors own 51.72% of the company's stock.

BancFirst Price Performance

BANF stock opened at $109.03 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.02 and a current ratio of 1.03. The company's fifty day moving average price is $110.02 and its 200-day moving average price is $111.77. BancFirst Corporation has a one year low of $101.48 and a one year high of $122.21. The company has a market capitalization of $3.66 billion, a PE ratio of 14.71 and a beta of 0.65.

BancFirst (NASDAQ:BANF - Get Free Report) last posted its earnings results on Thursday, July 23rd. The bank reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.16. The company had revenue of $187.49 million during the quarter, compared to analysts' expectations of $178.53 million. BancFirst had a net margin of 25.61% and a return on equity of 13.44%. On average, equities analysts anticipate that BancFirst Corporation will post 7.68 EPS for the current fiscal year.

BancFirst Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were issued a dividend of $0.52 per share. The ex-dividend date was Wednesday, September 30th. This represents a $2.08 annualized dividend and a yield of 1.9%. This is a boost from BancFirst's previous quarterly dividend of $0.49. BancFirst's dividend payout ratio (DPR) is 28.07%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Wall Street Zen upgraded BancFirst from a "sell" rating to a "hold" rating in a research note on Saturday, July 25th. Weiss Ratings upgraded shares of BancFirst from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, October 8th. Keefe, Bruyette & Woods dropped their target price on BancFirst from $123.00 to $121.00 and set a "market perform" rating on the stock in a research report on Wednesday, August 5th. Finally, Zacks Research lowered shares of BancFirst from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 25th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, BancFirst presently has a consensus rating of "Hold" and an average price target of $123.00.

Insider Transactions at BancFirst

In other BancFirst news, Director David Rainbolt sold 8,506 shares of BancFirst stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $115.00, for a total value of $978,190.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last 90 days, insiders sold 166,783 shares of company stock valued at $19,366,509. Insiders own 31.67% of the company's stock.

BancFirst Profile

BancFirst Corporation is the parent company of BancFirst, a full-service community bank headquartered in Oklahoma City, Oklahoma. Founded in 1989, the bank serves individuals, families, businesses, agricultural customers and government entities through a statewide network of banking locations.

BancFirst offers a broad range of financial products and services, including checking and savings accounts, certificates of deposit, consumer and commercial loans, mortgage lending, agricultural financing, treasury management and electronic banking.

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