Kayne Anderson Rudnick Investment Management LLC Reduces Stock Holdings in BancFirst Corporation $BANF

Key Points

• Kayne Anderson Rudnick Investment Management LLC reduced its stake in BancFirst Corporation by 0.2%, now holding approximately 6.49% of the company, valued at $237.1 million.
• Several institutional investors, including Hsbc Holdings PLC and Vestmark Advisory Solutions Inc., increased their stakes in BancFirst during the same quarter, reflecting ongoing interest in the bank's stock.
• BancFirst's recent earnings report showed an EPS of $1.85, exceeding analysts' expectations of $1.67, alongside a revenue of $169.3 million, beating forecasts of $163.62 million.

Kayne Anderson Rudnick Investment Management LLC lessened its holdings in BancFirst Corporation (NASDAQ:BANF - Free Report) by 0.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,158,264 shares of the bank's stock after selling 4,138 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned 6.49% of BancFirst worth $237,128,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Hsbc Holdings PLC increased its holdings in BancFirst by 4.4% in the 1st quarter. Hsbc Holdings PLC now owns 2,419 shares of the bank's stock worth $265,000 after buying an additional 101 shares during the period. SummerHaven Investment Management LLC boosted its holdings in BancFirst by 1.4% in the first quarter. SummerHaven Investment Management LLC now owns 8,839 shares of the bank's stock valued at $971,000 after purchasing an additional 121 shares during the last quarter. Capstone Triton Financial Group LLC grew its position in BancFirst by 1.1% during the 4th quarter. Capstone Triton Financial Group LLC now owns 13,403 shares of the bank's stock worth $1,571,000 after purchasing an additional 145 shares during the period. Stifel Financial Corp raised its stake in shares of BancFirst by 0.4% during the 4th quarter. Stifel Financial Corp now owns 38,005 shares of the bank's stock valued at $4,453,000 after buying an additional 155 shares during the last quarter. Finally, HighTower Advisors LLC lifted its holdings in shares of BancFirst by 5.6% in the 1st quarter. HighTower Advisors LLC now owns 3,086 shares of the bank's stock valued at $339,000 after buying an additional 165 shares during the period. Hedge funds and other institutional investors own 51.72% of the company's stock.

Insider Activity

In related news, Director F Ford Drummond sold 5,000 shares of BancFirst stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $126.29, for a total value of $631,450.00. Following the completion of the transaction, the director owned 6,000 shares in the company, valued at approximately $757,740. The trade was a 45.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 32.43% of the company's stock.

BancFirst Price Performance

NASDAQ BANF traded up $0.41 during trading hours on Thursday, hitting $134.26. 102,670 shares of the company's stock traded hands, compared to its average volume of 113,819. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.01 and a quick ratio of 1.01. The firm's 50-day moving average is $126.74 and its 200-day moving average is $120.09. BancFirst Corporation has a 52-week low of $97.02 and a 52-week high of $137.40. The company has a market capitalization of $4.47 billion, a PE ratio of 19.32 and a beta of 0.76.

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

Wall Street Analysts Forecast Growth

BANF has been the topic of several analyst reports. Keefe, Bruyette & Woods raised their target price on BancFirst from $123.00 to $132.00 and gave the stock a "market perform" rating in a report on Friday, July 18th. DA Davidson lifted their target price on shares of BancFirst from $120.00 to $136.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Finally, Wall Street Zen raised shares of BancFirst from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $134.00.

About BancFirst

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.