Summit Investment Advisors Inc. Has $244,000 Stock Position in BancFirst Co. (NASDAQ:BANF)

Summit Investment Advisors Inc. raised its holdings in shares of BancFirst Co. (NASDAQ:BANF) by 6.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 2,085 shares of the bank’s stock after buying an additional 133 shares during the period. Summit Investment Advisors Inc.’s holdings in BancFirst were worth $244,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Sterling Capital Management LLC grew its position in BancFirst by 779.4% in the fourth quarter. Sterling Capital Management LLC now owns 554 shares of the bank’s stock valued at $65,000 after purchasing an additional 491 shares in the last quarter. Heritage Trust Co bought a new position in shares of BancFirst in the 4th quarter valued at about $464,000. Invesco Ltd. increased its position in shares of 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 acquiring an additional 43,336 shares during the last quarter. Bank of Montreal Can boosted its position in BancFirst by 9.5% during the fourth quarter. Bank of Montreal Can now owns 4,144 shares of the bank’s stock valued at $486,000 after purchasing an additional 360 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in BancFirst by 37.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 28,857 shares of the bank’s stock valued at $3,381,000 after purchasing an additional 7,904 shares in the last quarter. 51.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of BancFirst from a “hold” rating to a “sell” rating in a research note on Tuesday.

BancFirst Stock Performance

Shares of NASDAQ BANF opened at $113.08 on Tuesday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $3.76 billion, a P/E ratio of 17.56 and a beta of 0.82. BancFirst Co. has a 12 month low of $81.56 and a 12 month high of $132.29. The stock has a 50 day moving average of $111.24 and a 200-day moving average of $115.91.

BancFirst (NASDAQ:BANF) last released its quarterly earnings data on Thursday, April 17th. The bank reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.09. The firm had revenue of $164.84 million during the quarter, compared to analysts’ expectations of $161.72 million. BancFirst had a net margin of 23.52% and a return on equity of 14.21%. As a group, equities research analysts predict that BancFirst Co. will post 6.52 EPS for the current year.

BancFirst Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.46 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.84 annualized dividend and a yield of 1.63%. BancFirst’s dividend payout ratio is currently 27.84%.

Insiders Place Their Bets

In related news, Director F Ford Drummond sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $120.58, for a total transaction of $602,900.00. Following the transaction, the director now directly owns 6,000 shares of the company’s stock, valued at approximately $723,480. This trade represents a 45.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William Scott Martin sold 10,000 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $119.13, for a total transaction of $1,191,300.00. Following the completion of the sale, the director now directly owns 214,499 shares of the company’s stock, valued at $25,553,265.87. This represents a 4.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,000 shares of company stock worth $2,994,350 over the last three months. Insiders own 32.43% 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. The company operates through BancFirst Metropolitan Banks, BancFirst Community Banks, Pegasus, Worthington, and Other Financial Services segments.