Charles Schwab Investment Management Inc. Trims Stock Holdings in BancFirst Corporation $BANF

Key Points

• Charles Schwab Investment Management Inc. reduced its holdings in BancFirst Corporation (NASDAQ:BANF) by 6.2%, selling 11,630 shares in the first quarter, bringing their total ownership to 175,557 shares valued at approximately $19.3 million.
• Institutional investors collectively own 51.72% of BancFirst's stock, with notable recent investments including Sterling Capital Management increasing its stake by 779.4%.
• BancFirst reported an earnings per share (EPS) of $1.85 for the last quarter, exceeding analysts' expectations and forecasting a total EPS of 6.52 for the current fiscal year.

Charles Schwab Investment Management Inc. reduced its holdings in BancFirst Corporation (NASDAQ:BANF - Free Report) by 6.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 175,557 shares of the bank's stock after selling 11,630 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.53% of BancFirst worth $19,288,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in BancFirst by 211.2% in the first quarter. GAMMA Investing LLC now owns 582 shares of the bank's stock valued at $64,000 after purchasing an additional 395 shares during the last quarter. Sterling Capital Management LLC increased its stake in BancFirst by 779.4% in the fourth quarter. Sterling Capital Management LLC now owns 554 shares of the bank's stock valued at $65,000 after purchasing an additional 491 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in BancFirst in the fourth quarter valued at $135,000. Meeder Asset Management Inc. acquired a new position in BancFirst in the first quarter valued at $181,000. Finally, Baird Financial Group Inc. acquired a new position in BancFirst in the fourth quarter valued at $203,000. 51.72% of the stock is currently owned by institutional investors and hedge funds.

BancFirst Stock Up 0.7%

Shares of BANF stock traded up $0.98 during trading hours on Wednesday, reaching $133.85. The company had a trading volume of 81,124 shares, compared to its average volume of 108,451. 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 Corporation has a twelve month low of $97.02 and a twelve month high of $137.40. The company has a market capitalization of $4.46 billion, a P/E ratio of 19.26 and a beta of 0.76. The stock's fifty day simple moving average is $126.74 and its 200 day simple moving average is $120.09.

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

Insider Activity

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

Wall Street Analysts Forecast Growth

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