BancFirst (NASDAQ:BANF) Receives “Neutral” Rating from DA Davidson

DA Davidson reissued their neutral rating on shares of BancFirst (NASDAQ:BANF) in a research note published on Friday morning, Marketbeat reports. DA Davidson currently has a $125.00 target price on the bank’s stock.

Separately, Weiss Ratings lowered shares of BancFirst from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. Four analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $124.00.

BancFirst Trading Up 1.9%

Shares of BancFirst stock opened at $116.27 on Friday. The firm has a market cap of $3.91 billion, a price-to-earnings ratio of 15.93 and a beta of 0.59. The business has a 50-day moving average price of $111.87 and a 200-day moving average price of $111.35. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.05. BancFirst has a twelve month low of $101.48 and a twelve month high of $138.77.

BancFirst (NASDAQ:BANF) last announced its quarterly earnings results on Thursday, April 16th. The bank reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.08. The firm had revenue of $179.00 million during the quarter, compared to the consensus estimate of $177.19 million. BancFirst had a net margin of 25.50% and a return on equity of 13.62%. During the same quarter last year, the firm earned $1.66 EPS. Equities research analysts anticipate that BancFirst will post 7.36 EPS for the current fiscal year.

BancFirst Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Tuesday, June 30th. BancFirst’s dividend payout ratio is 26.85%.

Insider Buying and Selling at BancFirst

In other BancFirst news, Director David E. Rainbolt sold 24,614 shares of the stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $115.55, for a total value of $2,844,147.70. Following the completion of the sale, the director owned 182,004 shares in the company, valued at approximately $21,030,562.20. This represents a 11.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders have sold 58,217 shares of company stock worth $6,719,223. 31.67% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On BancFirst

Hedge funds have recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of BancFirst in the fourth quarter valued at about $27,723,000. State Street Corp boosted its holdings in shares of BancFirst by 7.6% in the fourth quarter. State Street Corp now owns 1,375,873 shares of the bank’s stock valued at $146,537,000 after acquiring an additional 96,957 shares in the last quarter. Millennium Management LLC purchased a new stake in shares of BancFirst in the fourth quarter valued at about $8,316,000. Invesco Ltd. boosted its holdings in shares of BancFirst by 73.4% in the third quarter. Invesco Ltd. now owns 163,512 shares of the bank’s stock valued at $20,676,000 after acquiring an additional 69,192 shares in the last quarter. Finally, Verition Fund Management LLC boosted its holdings in shares of BancFirst by 30.8% in the fourth quarter. Verition Fund Management LLC now owns 168,591 shares of the bank’s stock valued at $17,874,000 after acquiring an additional 39,672 shares in the last quarter. 51.72% of the stock is currently owned by institutional investors and hedge funds.

About BancFirst

BancFirst Corporation is a regional banking holding company based in Oklahoma City, Oklahoma. As the largest state‐chartered bank in Oklahoma, BancFirst offers a comprehensive suite of financial services to individuals, businesses and government entities. Its core business activities include commercial and consumer banking, mortgage lending, treasury management, equipment financing and electronic banking solutions.

The bank operates a network of more than 60 branches across Oklahoma, serving urban centers such as Oklahoma City and Tulsa, as well as rural communities throughout the state.