BancFirst Corporation $BANF Shares Bought by Rhumbline Advisers

Key Points

• Rhumbline Advisers increased its stake in BancFirst Corporation by 16.1% during Q1, reaching a total value of approximately $7.99 million.
• BancFirst has announced a quarterly dividend increase from $0.46 to $0.49 per share, with an annualized dividend of $1.96.
• Recent analysts have revised their price targets for BancFirst, with a consensus rating of "Hold" and an average target price of $134.00.

Rhumbline Advisers increased its stake in shares of BancFirst Corporation (NASDAQ:BANF - Free Report) by 16.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 72,677 shares of the bank's stock after purchasing an additional 10,088 shares during the period. Rhumbline Advisers owned 0.22% of BancFirst worth $7,985,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Principal Financial Group Inc. grew its stake 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 acquiring an additional 3,594 shares in the last quarter. GAMMA Investing LLC grew its stake in BancFirst by 34,094.7% during the 1st quarter. GAMMA Investing LLC now owns 63,944 shares of the bank's stock valued at $7,026,000 after acquiring an additional 63,757 shares in the last quarter. Victory Capital Management Inc. grew its stake in BancFirst by 114.2% during the 1st quarter. Victory Capital Management Inc. now owns 19,518 shares of the bank's stock valued at $2,144,000 after acquiring an additional 10,404 shares in the last quarter. Nuveen LLC purchased a new stake in BancFirst during the 1st quarter valued at about $6,912,000. Finally, Millennium Management LLC grew its stake in BancFirst by 31.2% during the 4th quarter. Millennium Management LLC now owns 38,098 shares of the bank's stock valued at $4,464,000 after acquiring an additional 9,064 shares in the last quarter. Hedge funds and other institutional investors own 51.72% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on BANF shares. Wall Street Zen raised shares of BancFirst from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Keefe, Bruyette & Woods increased their price target on shares of BancFirst from $123.00 to $132.00 and gave the company a "market perform" rating in a research note on Friday, July 18th. Finally, DA Davidson increased their price target on shares of BancFirst from $120.00 to $136.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, BancFirst currently has a consensus rating of "Hold" and a consensus price target of $134.00.

Insider Buying and Selling at BancFirst

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

BancFirst Trading Up 2.2%

Shares of NASDAQ:BANF traded up $2.80 during mid-day trading on Wednesday, reaching $131.77. 27,983 shares of the company were exchanged, compared to its average volume of 113,701. 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 has a market cap of $4.39 billion, a price-to-earnings ratio of 18.96 and a beta of 0.79. The firm's 50-day simple moving average is $128.95 and its 200 day simple moving average is $121.54. BancFirst Corporation has a 1 year low of $97.02 and a 1 year high of $138.77.

BancFirst (NASDAQ:BANF - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The bank reported $1.85 earnings per share for the quarter, topping analysts' consensus estimates of $1.67 by $0.18. The firm 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 research analysts forecast that BancFirst Corporation will post 6.52 EPS for the current year.

BancFirst Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Tuesday, September 30th. This is an increase from BancFirst's previous quarterly dividend of $0.46. BancFirst's dividend payout ratio is 26.47%.

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.