Callan Family Office LLC Acquires Shares of 33,035 BancFirst Corporation $BANF

Key Points

• Callan Family Office LLC acquired 33,035 BancFirst shares worth approximately $3.67 million, while institutional investors collectively owned 51.72% of the company.
• Analyst sentiment is generally positive, with a consensus rating of “Moderate Buy” and an average price target of $123, although some firms recently lowered targets or maintained neutral ratings.
• BancFirst exceeded quarterly expectations, reporting $1.96 EPS versus the $1.80 estimate and revenue of $187.49 million versus $178.53 million expected; it also declared a $0.49 quarterly dividend yielding about 1.7%.

Callan Family Office LLC bought a new position in shares of BancFirst Corporation (NASDAQ:BANF - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 33,035 shares of the bank's stock, valued at approximately $3,671,000. Callan Family Office LLC owned 0.10% of BancFirst at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of BANF. BlackRock Inc. bought a new stake in BancFirst in the second quarter valued at $356,054,000. State Street Corp lifted its holdings in shares of BancFirst by 7.6% during the fourth quarter. State Street Corp now owns 1,375,873 shares of the bank's stock valued at $146,537,000 after acquiring an additional 96,957 shares during the period. Norges Bank acquired a new stake in shares of BancFirst in the 4th quarter valued at $27,723,000. Verition Fund Management LLC grew its holdings in shares of BancFirst by 30.8% in the 4th quarter. Verition Fund Management LLC now owns 168,591 shares of the bank's stock worth $17,874,000 after purchasing an additional 39,672 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in BancFirst by 73.4% during the 3rd quarter. Invesco Ltd. now owns 163,512 shares of the bank's stock valued at $20,676,000 after purchasing an additional 69,192 shares during the last quarter. Institutional investors and hedge funds own 51.72% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of BancFirst from a "sell" rating to a "hold" rating in a research note on Saturday, July 25th. Zacks Research upgraded BancFirst from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 27th. Keefe, Bruyette & Woods dropped their price target on BancFirst from $123.00 to $121.00 and set a "market perform" rating for the company in a report on Wednesday, August 5th. DA Davidson reiterated a "neutral" rating and issued a $125.00 price objective on shares of BancFirst in a research report on Friday, June 12th. Finally, Weiss Ratings lowered BancFirst from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $123.00.

Insider Transactions at BancFirst

In other BancFirst news, Director David E. Rainbolt sold 81,492 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $116.71, for a total value of $9,510,931.32. Following the transaction, the director directly owned 55,551 shares in the company, valued at approximately $6,483,357.21. This trade represents a 59.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders sold 166,783 shares of company stock worth $19,366,509. 31.67% of the stock is currently owned by corporate insiders.

BancFirst Trading Up 0.2%

BANF opened at $112.91 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $3.79 billion, a PE ratio of 15.24 and a beta of 0.61. BancFirst Corporation has a 1-year low of $101.48 and a 1-year high of $138.77. The firm has a 50-day moving average price of $114.06 and a two-hundred day moving average price of $112.55.

BancFirst (NASDAQ:BANF - Get Free Report) last announced its earnings results on Thursday, July 23rd. The bank reported $1.96 earnings per share for the quarter, topping analysts' consensus estimates of $1.80 by $0.16. BancFirst had a net margin of 25.61% and a return on equity of 13.44%. The company had revenue of $187.49 million during the quarter, compared to the consensus estimate of $178.53 million. As a group, equities analysts anticipate that BancFirst Corporation will post 7.67 earnings per share for the current fiscal year.

BancFirst Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 1.7%. The ex-dividend date was Tuesday, June 30th. BancFirst's payout ratio is 26.45%.

BancFirst Company 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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