BancFirst (NASDAQ:BANF) Downgraded by Zacks Investment Research to Sell

Last updated on Wednesday, July 21, 2021 | 2021 MarketBeat

BancFirst (NASDAQ:BANF) was downgraded by Zacks Investment Research from a "hold" rating to a "sell" rating in a report released on Wednesday, Zacks.com reports.

According to Zacks, "BancFirst Corporation is a bank holding company for BancFirst. BancFirst Corporation also owns 100% of the common securities of BFC Capital Trust I, and First State Bank. BancFirst's strategy focuses on providing a full range of commercial banking services to retail customers and small to medium-sized businesses both in the non-metropolitan trade centers and the metropolitan markets. BancFirst operates as a super community bank, managing their community banking offices on a decentralized basis, which permits them to be responsive to local customer needs. "

Separately, DA Davidson reiterated a "neutral" rating on shares of BancFirst in a report on Monday.

Shares of BancFirst stock traded up $0.47 during midday trading on Wednesday, hitting $56.29. The company's stock had a trading volume of 76,211 shares, compared to its average volume of 92,510. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 12.76 and a beta of 1.44. The company's 50-day simple moving average is $65.26. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.01 and a quick ratio of 1.01. BancFirst has a 1-year low of $38.48 and a 1-year high of $77.38.

BancFirst (NASDAQ:BANF) last issued its earnings results on Monday, July 19th. The bank reported $1.45 EPS for the quarter, topping the Thomson Reuters' consensus estimate of $1.13 by $0.32. BancFirst had a return on equity of 13.75% and a net margin of 37.09%. On average, analysts forecast that BancFirst will post 4.56 EPS for the current year.

In other BancFirst news, major shareholder Bf Bank Partners Lp sold 15,000 shares of the firm's stock in a transaction dated Friday, May 14th. The stock was sold at an average price of $73.25, for a total transaction of $1,098,750.00. Following the transaction, the insider now directly owns 5,199,527 shares in the company, valued at $380,865,352.75. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director William Scott Martin sold 2,123 shares of the firm's stock in a transaction dated Thursday, April 29th. The shares were sold at an average price of $70.00, for a total value of $148,610.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 70,446 shares of company stock valued at $5,095,543. 37.43% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Victory Capital Management Inc. raised its holdings in BancFirst by 4.9% during the first quarter. Victory Capital Management Inc. now owns 6,743 shares of the bank's stock valued at $477,000 after buying an additional 314 shares in the last quarter. TAP Consulting LLC bought a new position in BancFirst during the first quarter valued at about $4,120,000. BlackRock Inc. raised its holdings in BancFirst by 2.8% during the first quarter. BlackRock Inc. now owns 3,315,686 shares of the bank's stock valued at $234,387,000 after buying an additional 89,892 shares in the last quarter. State of Tennessee Treasury Department raised its holdings in BancFirst by 5.7% during the first quarter. State of Tennessee Treasury Department now owns 6,653 shares of the bank's stock valued at $470,000 after buying an additional 357 shares in the last quarter. Finally, Bank of Montreal Can raised its holdings in BancFirst by 7.6% during the first quarter. Bank of Montreal Can now owns 5,805 shares of the bank's stock valued at $411,000 after buying an additional 412 shares in the last quarter. Institutional investors own 37.82% of the company's stock.

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. It operates through Metropolitan Banks, Community Banks, Pegasus Bank, and Other Financial Services segments. The company offers checking accounts, negotiable order of withdrawal accounts, savings accounts, money market accounts, sweep accounts, club accounts, individual retirement accounts, and certificates of deposit, as well as overdraft protection and auto draft services.

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