Corient Private Wealth LP Acquires New Holdings in BancFirst Corporation $BANF

Key Points

• Corient Private Wealth LP initiated a BancFirst position by purchasing 18,573 shares worth approximately $2.06 million. Institutional investors collectively own 51.72% of the bank.
• BancFirst exceeded quarterly expectations, reporting $1.96 in earnings per share versus the $1.80 consensus estimate and revenue of $187.49 million versus forecasts of $178.53 million.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and a $123 price target. The stock recently opened at $111.13, while an insider sold 8,506 shares for about $978,190.

Corient Private Wealth LP purchased a new stake in shares of BancFirst Corporation (NASDAQ:BANF - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 18,573 shares of the bank's stock, valued at approximately $2,064,000. Corient Private Wealth LP owned about 0.06% of BancFirst as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Quarry LP increased its position in BancFirst by 531.4% during the third quarter. Quarry LP now owns 221 shares of the bank's stock worth $28,000 after acquiring an additional 186 shares during the period. Allworth Financial LP acquired a new position in BancFirst during the 2nd quarter valued at $33,000. Pinnacle Holdings LLC bought a new stake in BancFirst in the 2nd quarter valued at $40,000. Kestra Advisory Services LLC bought a new stake in BancFirst in the 4th quarter valued at $41,000. Finally, EverSource Wealth Advisors LLC grew its position in BancFirst by 957.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 402 shares of the bank's stock worth $50,000 after purchasing an additional 364 shares during the last quarter. Institutional investors own 51.72% of the company's stock.

Wall Street Analysts Forecast Growth

BANF has been the topic of several research reports. Weiss Ratings lowered BancFirst from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, July 16th. Zacks Research downgraded BancFirst from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 25th. Wall Street Zen raised BancFirst from a "sell" rating to a "hold" rating in a report on Saturday, July 25th. Keefe, Bruyette & Woods lowered their price objective 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, DA Davidson restated a "neutral" rating and issued a $125.00 target price on shares of BancFirst in a research note on Friday, June 12th. Four analysts have rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $123.00.

BancFirst Price Performance

NASDAQ:BANF opened at $111.13 on Thursday. The firm has a market cap of $3.73 billion, a PE ratio of 15.00 and a beta of 0.60. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.04. BancFirst Corporation has a 12 month low of $101.48 and a 12 month high of $138.77. The company's 50-day moving average price is $113.78 and its two-hundred day moving average price is $112.18.

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

Insider Activity at BancFirst

In other news, Director David E. Rainbolt sold 8,506 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $115.00, for a total transaction of $978,190.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have sold 166,783 shares of company stock worth $19,366,509 over the last quarter. 31.67% of the stock is owned by corporate insiders.

BancFirst 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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