Kayne Anderson Rudnick Investment Management LLC Trims Position in BancFirst Co. (NASDAQ:BANF)

Kayne Anderson Rudnick Investment Management LLC decreased its position in shares of BancFirst Co. (NASDAQ:BANF) by 0.1% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,147,785 shares of the bank’s stock after selling 2,224 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned approximately 6.51% of BancFirst worth $188,361,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of BANF. Charles Schwab Investment Management Inc. boosted its stake in shares of BancFirst by 7.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 169,562 shares of the bank’s stock worth $16,503,000 after acquiring an additional 12,457 shares during the period. Norges Bank bought a new position in BancFirst in the 4th quarter worth approximately $23,802,000. D.A. Davidson & CO. purchased a new stake in BancFirst during the 4th quarter valued at approximately $216,000. Quest Partners LLC bought a new stake in shares of BancFirst during the fourth quarter valued at approximately $305,000. Finally, Steward Partners Investment Advisory LLC lifted its holdings in shares of BancFirst by 32.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,551 shares of the bank’s stock worth $248,000 after buying an additional 629 shares in the last quarter. Institutional investors own 51.72% of the company’s stock.

Insider Activity

In other BancFirst news, EVP Dennis Jay Hannah sold 3,000 shares of the business’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $106.50, for a total value of $319,500.00. Following the completion of the sale, the executive vice president now directly owns 7,714 shares of the company’s stock, valued at approximately $821,541. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, Director William Scott Martin sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $107.50, for a total value of $537,500.00. Following the completion of the transaction, the director now owns 326,904 shares of the company’s stock, valued at $35,142,180. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Dennis Jay Hannah sold 3,000 shares of the stock in a transaction on Friday, July 19th. The shares were sold at an average price of $106.50, for a total value of $319,500.00. Following the sale, the executive vice president now directly owns 7,714 shares in the company, valued at approximately $821,541. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 67,564 shares of company stock valued at $7,150,517. 33.89% of the stock is currently owned by company insiders.

BancFirst Trading Down 2.2 %

BANF opened at $107.95 on Friday. The stock has a 50-day moving average of $103.63 and a 200 day moving average of $92.76. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.06. BancFirst Co. has a 12 month low of $79.99 and a 12 month high of $111.00. The firm has a market cap of $3.56 billion, a P/E ratio of 17.64 and a beta of 1.03.

BancFirst (NASDAQ:BANF) last posted its quarterly earnings data on Thursday, July 18th. The bank reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.09. The business had revenue of $153.84 million for the quarter, compared to analysts’ expectations of $149.75 million. BancFirst had a net margin of 23.46% and a return on equity of 13.89%. As a group, research analysts forecast that BancFirst Co. will post 6.07 EPS for the current year.

BancFirst Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 1.70%. This is an increase from BancFirst’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Monday, September 30th. BancFirst’s dividend payout ratio (DPR) is 30.07%.

Analyst Upgrades and Downgrades

Several research firms have commented on BANF. StockNews.com downgraded shares of BancFirst from a “hold” rating to a “sell” rating in a report on Wednesday, September 4th. Piper Sandler raised their target price on shares of BancFirst from $84.50 to $95.00 and gave the company an “underweight” rating in a report on Monday, July 22nd.

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.