Deutsche Bank AG Buys New Stake in BancFirst Corporation $BANF

Key Points

• Deutsche Bank acquired 24,750 BancFirst shares worth approximately $2.75 million, giving it a 0.07% stake. Institutional investors collectively own 51.72% of the company.
• Analysts remain cautious, with BancFirst carrying a consensus “Hold” rating and an average price target of $123.00; several firms recently lowered or downgraded their assessments.
• BancFirst exceeded quarterly expectations, reporting $1.96 in EPS versus the $1.80 consensus and revenue of $187.49 million. However, insiders sold 166,783 shares worth about $19.37 million over the past 90 days.

Deutsche Bank AG acquired a new stake in shares of BancFirst Corporation (NASDAQ:BANF - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 24,750 shares of the bank's stock, valued at approximately $2,750,000. Deutsche Bank AG owned about 0.07% of BancFirst at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in BANF. Oregon Public Employees Retirement Fund raised its stake in BancFirst by 2.1% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,752 shares of the bank's stock worth $504,000 after acquiring an additional 100 shares during the last quarter. Advisors Asset Management Inc. grew its stake in BancFirst by 9.5% during the 4th quarter. Advisors Asset Management Inc. now owns 1,245 shares of the bank's stock valued at $132,000 after purchasing an additional 108 shares during the last quarter. ProShare Advisors LLC grew its stake in BancFirst by 3.2% during the 4th quarter. ProShare Advisors LLC now owns 4,058 shares of the bank's stock valued at $430,000 after purchasing an additional 127 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of BancFirst by 17.7% in the first quarter. Parallel Advisors LLC now owns 1,082 shares of the bank's stock valued at $117,000 after purchasing an additional 163 shares during the period. Finally, Parkside Financial Bank & Trust increased its holdings in shares of BancFirst by 11.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,551 shares of the bank's stock valued at $164,000 after purchasing an additional 165 shares during the period. Institutional investors and hedge funds own 51.72% of the company's stock.

Analysts Set New Price Targets

BANF has been the subject of a number of research reports. DA Davidson restated a "neutral" rating and set a $125.00 target price on shares of BancFirst in a research report on Friday, June 12th. Weiss Ratings downgraded BancFirst from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, July 16th. Wall Street Zen upgraded BancFirst from a "sell" rating to a "hold" rating in a research 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, Zacks Research downgraded BancFirst from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, BancFirst currently has an average rating of "Hold" and a consensus target price of $123.00.

Insider Activity

In related news, Director David E. Rainbolt sold 8,506 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $115.00, for a total value of $978,190.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold a total of 166,783 shares of company stock worth $19,366,509 in the last 90 days. 31.67% of the stock is owned by company insiders.

BancFirst Stock Performance

Shares of BANF stock opened at $110.40 on Friday. The stock's 50-day moving average is $113.99 and its two-hundred day moving average is $112.42. The firm has a market cap of $3.71 billion, a price-to-earnings ratio of 14.90 and a beta of 0.61. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.02 and a current ratio of 1.03. BancFirst Corporation has a 1 year low of $101.48 and a 1 year high of $138.77.

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 the consensus estimate 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 during the quarter, compared to analysts' expectations of $178.53 million. Analysts predict that BancFirst Corporation will post 7.67 earnings per share for the current year.

About BancFirst

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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