Nuveen LLC Makes New $6.91 Million Investment in BancFirst Corporation $BANF

Key Points

• Nuveen LLC has acquired a new position in BancFirst Corporation, purchasing 62,914 shares valued at approximately $6.91 million, representing 0.19% of the bank's stock.
• BancFirst's stock increased by 5.9% recently, with the price opening at $132.90, near its 52-week high of $137.40.
• Several research firms have updated their price targets for BancFirst, with Keefe, Bruyette & Woods raising it from $123 to $132 and DA Davidson from $120 to $136, indicating a positive outlook from analysts.

Nuveen LLC purchased a new stake in shares of BancFirst Corporation (NASDAQ:BANF - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 62,914 shares of the bank's stock, valued at approximately $6,912,000. Nuveen LLC owned about 0.19% of BancFirst at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Principal Financial Group Inc. raised its position in BancFirst by 3.4% during the 1st quarter. Principal Financial Group Inc. now owns 108,842 shares of the bank's stock valued at $11,958,000 after purchasing an additional 3,594 shares during the last quarter. GAMMA Investing LLC boosted its holdings in BancFirst by 34,094.7% in the first quarter. GAMMA Investing LLC now owns 63,944 shares of the bank's stock worth $7,026,000 after acquiring an additional 63,757 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in BancFirst by 114.2% in the first quarter. Victory Capital Management Inc. now owns 19,518 shares of the bank's stock worth $2,144,000 after acquiring an additional 10,404 shares in the last quarter. Rhumbline Advisers boosted its holdings in BancFirst by 16.1% in the first quarter. Rhumbline Advisers now owns 72,677 shares of the bank's stock worth $7,985,000 after acquiring an additional 10,088 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in BancFirst by 31.2% in the fourth quarter. Millennium Management LLC now owns 38,098 shares of the bank's stock worth $4,464,000 after acquiring an additional 9,064 shares in the last quarter. Institutional investors own 51.72% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Keefe, Bruyette & Woods boosted 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. Wall Street Zen raised BancFirst from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Finally, DA Davidson boosted their target price on BancFirst from $120.00 to $136.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $134.00.

Insiders Place Their Bets

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

BancFirst Stock Performance

Shares of NASDAQ:BANF traded down $0.35 during midday trading on Friday, reaching $133.92. 37,218 shares of the company's stock traded hands, compared to its average volume of 113,307. The company has a market cap of $4.46 billion, a price-to-earnings ratio of 19.27 and a beta of 0.76. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.01 and a current ratio of 1.01. BancFirst Corporation has a one year low of $97.02 and a one year high of $137.40. The stock has a 50 day moving average of $127.05 and a 200 day moving average of $120.19.

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

BancFirst Company Profile

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.