BancFirst Co. (NASDAQ:BANF) Stock Position Lifted by BancFirst Trust & Investment Management

BancFirst Trust & Investment Management increased its position in BancFirst Co. (NASDAQ:BANF) by 50.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,702,082 shares of the bank’s stock after acquiring an additional 573,224 shares during the quarter. BancFirst comprises approximately 59.6% of BancFirst Trust & Investment Management’s holdings, making the stock its biggest position. BancFirst Trust & Investment Management owned about 0.05% of BancFirst worth $177,936,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. grew its position in shares of BancFirst by 557.1% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 506 shares of the bank’s stock worth $45,000 after purchasing an additional 429 shares in the last quarter. EntryPoint Capital LLC boosted its stake in BancFirst by 56.8% in the 1st quarter. EntryPoint Capital LLC now owns 842 shares of the bank’s stock worth $74,000 after purchasing an additional 305 shares during the period. Point72 DIFC Ltd purchased a new stake in BancFirst during the 2nd quarter valued at approximately $77,000. Transcendent Capital Group LLC bought a new stake in shares of BancFirst during the first quarter valued at approximately $105,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of BancFirst in the second quarter worth $114,000. Institutional investors own 51.72% of the company’s stock.

Wall Street Analysts Forecast Growth

BANF has been the subject of several research analyst reports. StockNews.com cut shares of BancFirst from a “hold” rating to a “sell” rating in a research note on Wednesday, September 4th. Piper Sandler raised their price objective on BancFirst from $84.50 to $95.00 and gave the company an “underweight” rating in a research report on Monday, July 22nd.

Insider Buying and Selling

In other BancFirst news, Director Leslie Jeannine Rainbolt sold 10,371 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $105.02, for a total transaction of $1,089,162.42. Following the sale, the director now directly owns 4,944,702 shares in the company, valued at $519,292,604.04. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Dave R. Lopez sold 1,000 shares of BancFirst stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $102.13, for a total transaction of $102,130.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Leslie Jeannine Rainbolt sold 10,371 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $105.02, for a total transaction of $1,089,162.42. Following the completion of the sale, the director now directly owns 4,944,702 shares in the company, valued at $519,292,604.04. The disclosure for this sale can be found here. Over the last quarter, insiders sold 67,564 shares of company stock worth $7,150,517. Corporate insiders own 33.89% of the company’s stock.

BancFirst Stock Performance

NASDAQ:BANF opened at $100.43 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.97 and a quick ratio of 0.97. The company has a market cap of $3.31 billion, a price-to-earnings ratio of 16.41 and a beta of 1.03. BancFirst Co. has a 1 year low of $79.99 and a 1 year high of $111.00. The stock’s 50 day simple moving average is $104.12 and its two-hundred day simple moving average is $93.67.

BancFirst (NASDAQ:BANF) last announced its quarterly earnings results on Thursday, July 18th. The bank reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.09. BancFirst had a net margin of 23.46% and a return on equity of 13.89%. The company had revenue of $153.84 million for the quarter, compared to analysts’ expectations of $149.75 million. As a group, equities analysts anticipate that BancFirst Co. will post 6.07 earnings per share for the current fiscal year.

BancFirst Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a $0.46 dividend. This is an increase from BancFirst’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.83%. BancFirst’s dividend payout ratio (DPR) is presently 30.07%.

BancFirst Company 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.