BancFirst Corporation $BANF Shares Sold by Kayne Anderson Rudnick Investment Management LLC

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

Other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. raised its stake in shares of BancFirst by 3.4% during the first quarter. Principal Financial Group Inc. now owns 108,842 shares of the bank's stock valued at $11,958,000 after acquiring an additional 3,594 shares in the last quarter. First Trust Advisors LP increased its position in shares of BancFirst by 19.2% during the fourth quarter. First Trust Advisors LP now owns 89,988 shares of the bank's stock worth $10,545,000 after purchasing an additional 14,480 shares in the last quarter. Rhumbline Advisers boosted its position in shares of BancFirst by 16.1% in the 1st quarter. Rhumbline Advisers now owns 72,677 shares of the bank's stock worth $7,985,000 after purchasing an additional 10,088 shares in the last quarter. Voloridge Investment Management LLC boosted its position in shares of BancFirst by 32.0% in the 4th quarter. Voloridge Investment Management LLC now owns 66,104 shares of the bank's stock worth $7,746,000 after purchasing an additional 16,010 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of BancFirst by 34,094.7% in the 1st quarter. GAMMA Investing LLC now owns 63,944 shares of the bank's stock worth $7,026,000 after purchasing an additional 63,757 shares in the last quarter. Institutional investors own 51.72% of the company's stock.

Insider Activity at BancFirst

In other news, Director F Ford Drummond sold 5,000 shares of the firm's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $126.29, for a total transaction of $631,450.00. Following the completion of the transaction, the director directly owned 6,000 shares in the company, valued at $757,740. This trade represents a 45.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 32.43% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

BancFirst Stock Performance

Shares of BANF remained flat at $134.26 during midday trading on Friday. The stock had a trading volume of 28,930 shares, compared to its average volume of 113,295. BancFirst Corporation has a 1-year low of $97.02 and a 1-year high of $137.40. The stock's 50-day moving average is $127.05 and its two-hundred day moving average is $120.19. The firm has a market cap of $4.47 billion, a price-to-earnings ratio of 19.32 and a beta of 0.76. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.05.

BancFirst (NASDAQ:BANF - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The bank reported $1.85 EPS for the quarter, topping the consensus estimate 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, equities research analysts forecast that BancFirst Corporation will post 6.52 EPS for the current fiscal year.

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.