Triton Financial Group Inc Takes $1.79 Million Position in BancFirst Corporation $BANF

Key Points

• Triton Financial Group Inc has acquired a new stake in BancFirst Corporation, purchasing approximately $1.79 million worth of shares, making it the firm's 23rd largest position.
• BancFirst recently increased its quarterly dividend from $0.46 to $0.49, representing a yield of 1.7% and a payout ratio of 27.80%.
• Analysts have mixed ratings on BancFirst, with a current average rating of "Hold" and a price target of $128.00, highlighting recent shifts in market perception.

Triton Financial Group Inc purchased a new stake in shares of BancFirst Corporation (NASDAQ:BANF - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 14,491 shares of the bank's stock, valued at approximately $1,791,000. BancFirst makes up about 1.3% of Triton Financial Group Inc's investment portfolio, making the stock its 23rd biggest position.

Other hedge funds have also recently made changes to their positions in the company. Pinnacle Holdings LLC acquired a new stake in shares of BancFirst during the first quarter valued at about $40,000. Advisors Asset Management Inc. boosted its stake in shares of BancFirst by 108.6% during the first quarter. Advisors Asset Management Inc. now owns 559 shares of the bank's stock valued at $61,000 after purchasing an additional 291 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of BancFirst by 211.2% during the first quarter. GAMMA Investing LLC now owns 582 shares of the bank's stock valued at $64,000 after purchasing an additional 395 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of BancFirst during the first quarter valued at about $181,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of BancFirst during the first quarter valued at about $210,000. 51.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on BANF shares. Keefe, Bruyette & Woods cut their price objective on BancFirst from $132.00 to $120.00 and set a "market perform" rating on the stock in a research note on Monday. Wall Street Zen raised BancFirst from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. DA Davidson lifted their price objective on BancFirst from $120.00 to $136.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of BancFirst in a research note on Wednesday, October 8th. Finally, Zacks Research lowered BancFirst from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 16th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $128.00.

Insiders Place Their Bets

In other BancFirst news, Director F Ford Drummond sold 5,000 shares of BancFirst stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $126.29, for a total value of $631,450.00. Following the completion of the sale, the director directly 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 can be accessed through this hyperlink. Insiders own 32.43% of the company's stock.

BancFirst Trading Up 1.7%

Shares of BANF stock opened at $114.83 on Tuesday. The company has a market cap of $3.82 billion, a P/E ratio of 16.29 and a beta of 0.76. The stock has a 50 day simple moving average of $128.38 and a two-hundred day simple moving average of $124.16. 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 fifty-two week low of $97.02 and a fifty-two week high of $138.77.

BancFirst (NASDAQ:BANF - Get Free Report) last issued its earnings results on Friday, October 17th. The bank reported $1.85 earnings per share for the quarter, missing analysts' consensus estimates of $1.87 by ($0.02). The business had revenue of $175.48 million during the quarter, compared to the consensus estimate of $174.60 million. BancFirst had a return on equity of 14.19% and a net margin of 24.94%. Research analysts forecast that BancFirst Corporation will post 6.52 earnings per share for the current year.

BancFirst Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were issued a $0.49 dividend. The ex-dividend date was Tuesday, September 30th. This is an increase from BancFirst's previous quarterly dividend of $0.46. This represents a $1.96 dividend on an annualized basis and a yield of 1.7%. BancFirst's dividend payout ratio is presently 27.80%.

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.

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