Victory Capital Management Inc. Purchases 10,404 Shares of BancFirst Corporation (NASDAQ:BANF)

Key Points

• Victory Capital Management Inc. boosted its stake in BancFirst Corporation by 114.2%, acquiring 10,404 additional shares and holding 19,518 shares valued at approximately $2.14 million.
• BancFirst recently reported quarterly earnings of $1.85 per share, exceeding analysts' expectations of $1.67, with a revenue of $169.3 million for the same period.
• The company declared a quarterly dividend of $0.46, with an annualized dividend yield of 1.45%, reflecting a payout ratio of 26.47%.

Victory Capital Management Inc. increased its stake in BancFirst Corporation (NASDAQ:BANF - Free Report) by 114.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,518 shares of the bank's stock after acquiring an additional 10,404 shares during the quarter. Victory Capital Management Inc. owned about 0.06% of BancFirst worth $2,144,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in BancFirst by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 2,306,204 shares of the bank's stock valued at $270,241,000 after buying an additional 44,563 shares during the period. Geode Capital Management LLC lifted its stake in BancFirst by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 484,883 shares of the bank's stock valued at $56,832,000 after buying an additional 2,098 shares during the period. Norges Bank acquired a new position in BancFirst in the fourth quarter valued at approximately $26,649,000. JPMorgan Chase & Co. lifted its stake in BancFirst by 35.8% in the fourth quarter. JPMorgan Chase & Co. now owns 175,457 shares of the bank's stock valued at $20,560,000 after buying an additional 46,253 shares during the period. Finally, Invesco Ltd. lifted its stake in BancFirst by 65.7% in the fourth quarter. Invesco Ltd. now owns 109,342 shares of the bank's stock valued at $12,813,000 after buying an additional 43,336 shares during the period. 51.72% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BANF. DA Davidson boosted their price target on BancFirst from $120.00 to $136.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Keefe, Bruyette & Woods boosted their price target on BancFirst from $123.00 to $132.00 and gave the company a "market perform" rating in a research note on Friday, July 18th. Finally, Wall Street Zen upgraded BancFirst from a "sell" rating to a "hold" rating in a report on Saturday, July 26th.

Insiders Place Their Bets

In other news, EVP Randy Foraker sold 4,000 shares of the business's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $126.61, for a total transaction of $506,440.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director F Ford Drummond sold 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $124.12, for a total transaction of $620,600.00. Following the completion of the sale, the director directly owned 6,000 shares in the company, valued at $744,720. This represents a 45.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. 32.43% of the stock is owned by insiders.

BancFirst Stock Performance

Shares of NASDAQ BANF traded down $2.06 during mid-day trading on Friday, reaching $122.47. 82,931 shares of the company's stock were exchanged, compared to its average volume of 114,905. The firm has a market capitalization of $4.07 billion, a price-to-earnings ratio of 17.63 and a beta of 0.77. BancFirst Corporation has a 52 week low of $95.78 and a 52 week high of $137.40. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a 50-day moving average price of $125.53 and a two-hundred day moving average price of $119.32.

BancFirst (NASDAQ:BANF - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The bank reported $1.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.67 by $0.18. BancFirst had a return on equity of 14.38% and a net margin of 24.05%. The company had revenue of $169.30 million for the quarter, compared to analyst estimates of $163.62 million. Analysts predict that BancFirst Corporation will post 6.52 EPS for the current year.

BancFirst Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Monday, June 30th. BancFirst's payout ratio is 26.47%.

BancFirst 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.