Edgestream Partners L.P. Has $3.49 Million Stock Holdings in BancFirst Corporation $BANF

Key Points

• Edgestream Partners increased its BancFirst position by 645.7% in the first quarter, owning 32,139 shares worth approximately $3.49 million. Institutional investors collectively hold 51.72% of the company.
• BancFirst reported a quarterly earnings beat, with EPS of $1.96 versus the $1.80 consensus and revenue of $187.49 million. Analysts’ average rating is “Moderate Buy,” with a $124 price target.
• Insider selling has been notable: Director David E. Rainbolt sold 81,492 shares for about $9.51 million, while BancFirst continues to pay a quarterly dividend of $0.49 per share, yielding approximately 1.7% annually.

Edgestream Partners L.P. boosted its position in BancFirst Corporation (NASDAQ:BANF - Free Report) by 645.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,139 shares of the bank's stock after buying an additional 27,829 shares during the period. Edgestream Partners L.P. owned approximately 0.10% of BancFirst worth $3,487,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. State Street Corp increased 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 in the last quarter. Norges Bank acquired a new position in shares of BancFirst during the fourth quarter worth approximately $27,723,000. Verition Fund Management LLC lifted 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 in the last quarter. Invesco Ltd. lifted its holdings in shares of BancFirst by 73.4% in the 3rd quarter. Invesco Ltd. now owns 163,512 shares of the bank's stock worth $20,676,000 after purchasing an additional 69,192 shares in the last quarter. Finally, Raymond James Financial Inc. grew its position in BancFirst by 33.5% in the 3rd quarter. Raymond James Financial Inc. now owns 134,175 shares of the bank's stock valued at $16,966,000 after purchasing an additional 33,636 shares during the period. Institutional investors own 51.72% of the company's stock.

Insider Transactions at BancFirst

In other BancFirst news, Director David E. Rainbolt sold 81,492 shares of BancFirst stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $116.71, for a total transaction of $9,510,931.32. Following the transaction, the director directly owned 55,551 shares of the company's stock, valued at $6,483,357.21. The trade was a 59.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have sold 139,170 shares of company stock worth $16,190,275. 31.67% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

BANF has been the subject of a number of recent research reports. DA Davidson restated a "neutral" rating and set a $125.00 price target on shares of BancFirst in a research note on Friday, June 12th. Zacks Research raised shares of BancFirst from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 27th. Wall Street Zen upgraded shares of BancFirst from a "sell" rating to a "hold" rating in a report on Saturday, July 25th. Finally, Weiss Ratings downgraded shares of BancFirst from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $124.00.

BancFirst Stock Up 0.6%

BANF stock opened at $112.82 on Friday. BancFirst Corporation has a twelve month low of $101.48 and a twelve month high of $138.77. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.05. The stock's 50 day moving average is $113.26 and its 200-day moving average is $112.26. The firm has a market capitalization of $3.79 billion, a PE ratio of 15.23 and a beta of 0.59.

BancFirst (NASDAQ:BANF - Get Free Report) last announced its earnings results on Friday, July 24th. The bank reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.16. BancFirst had a return on equity of 13.64% and a net margin of 31.96%.The company had revenue of $187.49 million for the quarter, compared to analysts' expectations of $178.53 million. Sell-side analysts expect that BancFirst Corporation will post 7.67 EPS for the current fiscal year.

BancFirst Announces Dividend

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

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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