BancFirst (NASDAQ:BANF) Sees Large Volume Increase – Should You Buy?

BancFirst Corporation (NASDAQ:BANF) saw unusually-high trading volume on Thursday . Approximately 126,594 shares traded hands during mid-day trading, a decline of 8% from the previous session’s volume of 137,779 shares.The stock last traded at $112.1680 and had previously closed at $110.67.

Wall Street Analyst Weigh In

Several equities analysts have commented on BANF shares. DA Davidson reiterated a “neutral” rating and set a $125.00 price objective on shares of BancFirst in a research report on Friday, June 12th. Weiss Ratings cut shares of BancFirst from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $124.00.

BancFirst Price Performance

The company has a market cap of $3.74 billion, a P/E ratio of 15.25 and a beta of 0.59. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.04 and a current ratio of 1.04. The business’s fifty day moving average is $112.05 and its two-hundred day moving average is $111.36.

BancFirst (NASDAQ:BANF) last announced its quarterly earnings data on Thursday, April 16th. The bank reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.08. BancFirst had a return on equity of 13.62% and a net margin of 25.50%.The company had revenue of $179.00 million for the quarter, compared to analysts’ expectations of $177.19 million. During the same quarter in the prior year, the firm earned $1.66 earnings per share. Equities analysts predict that BancFirst Corporation will post 7.39 EPS for the current year.

BancFirst Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Tuesday, June 30th. BancFirst’s payout ratio is currently 26.85%.

Insider Buying and Selling at BancFirst

In other news, Director David E. Rainbolt sold 9,001 shares of BancFirst stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $115.11, for a total transaction of $1,036,105.11. Following the completion of the sale, the director directly owned 166,783 shares in the company, valued at approximately $19,198,391.13. The trade was a 5.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 58,217 shares of company stock worth $6,719,222 in the last 90 days. 31.67% of the stock is currently owned by insiders.

Institutional Trading of BancFirst

Several hedge funds and other institutional investors have recently bought and sold shares of BANF. Quarry LP increased its stake in shares of BancFirst by 531.4% in the 3rd quarter. Quarry LP now owns 221 shares of the bank’s stock valued at $28,000 after purchasing an additional 186 shares in the last quarter. Allworth Financial LP grew its holdings in BancFirst by 47.5% in the third quarter. Allworth Financial LP now owns 295 shares of the bank’s stock valued at $37,000 after purchasing an additional 95 shares during the period. Pinnacle Holdings LLC purchased a new stake in shares of BancFirst in the third quarter valued at approximately $46,000. Eagle Bay Advisors LLC purchased a new stake in shares of BancFirst in the fourth quarter valued at approximately $40,000. Finally, Kestra Advisory Services LLC acquired a new position in shares of BancFirst during the 4th quarter worth approximately $41,000. 51.72% of the stock is 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.