Insider Selling: BancFirst Co. (NASDAQ:BANF) Director Sells $3,075,000.00 in Stock

BancFirst Co. (NASDAQ:BANF) Director William Scott Martin sold 25,000 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $123.00, for a total transaction of $3,075,000.00. Following the completion of the transaction, the director now directly owns 249,106 shares of the company’s stock, valued at $30,640,038. This represents a 9.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

William Scott Martin also recently made the following trade(s):

• On Wednesday, November 13th, William Scott Martin sold 10,298 shares of BancFirst stock. The shares were sold at an average price of $126.01, for a total transaction of $1,297,650.98.
• On Wednesday, November 6th, William Scott Martin sold 15,000 shares of BancFirst stock. The stock was sold at an average price of $117.00, for a total value of $1,755,000.00.
• On Wednesday, October 30th, William Scott Martin sold 5,000 shares of BancFirst stock. The shares were sold at an average price of $113.50, for a total value of $567,500.00.

BancFirst Stock Performance

Shares of NASDAQ:BANF opened at $121.78 on Monday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.05. BancFirst Co. has a 12-month low of $81.21 and a 12-month high of $129.00. The company’s 50 day moving average price is $109.61 and its two-hundred day moving average price is $99.56. The firm has a market cap of $4.03 billion, a PE ratio of 19.58 and a beta of 1.02.

BancFirst (NASDAQ:BANF) last released its earnings results on Thursday, October 17th. The bank reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.18. BancFirst had a return on equity of 13.92% and a net margin of 23.52%. The firm had revenue of $163.67 million during the quarter, compared to the consensus estimate of $156.70 million. Equities research analysts predict that BancFirst Co. will post 6.37 earnings per share for the current year.

BancFirst Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.46 dividend. This is a positive change from BancFirst’s previous quarterly dividend of $0.43. The ex-dividend date was Monday, September 30th. This represents a $1.84 annualized dividend and a dividend yield of 1.51%. BancFirst’s dividend payout ratio (DPR) is presently 29.58%.

Analysts Set New Price Targets

BANF has been the topic of several research reports. Piper Sandler upped their target price on BancFirst from $84.50 to $95.00 and gave the company an “underweight” rating in a research report on Monday, July 22nd. DA Davidson upped their price objective on BancFirst from $104.00 to $110.00 and gave the company a “neutral” rating in a report on Monday, October 21st. Finally, StockNews.com raised BancFirst from a “sell” rating to a “hold” rating in a report on Thursday, November 7th.

Hedge Funds Weigh In On BancFirst

Institutional investors have recently modified their holdings of the business. Whittier Trust Co. of Nevada Inc. acquired a new stake in BancFirst in the third quarter valued at about $38,000. Blue Trust Inc. boosted its stake in shares of BancFirst by 33.9% in the 3rd quarter. Blue Trust Inc. now owns 391 shares of the bank’s stock valued at $41,000 after purchasing an additional 99 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in shares of BancFirst by 64.8% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 834 shares of the bank’s stock valued at $73,000 after purchasing an additional 328 shares during the last quarter. EntryPoint Capital LLC grew its holdings in shares of BancFirst by 56.8% during the 1st quarter. EntryPoint Capital LLC now owns 842 shares of the bank’s stock valued at $74,000 after purchasing an additional 305 shares during the last quarter. Finally, Point72 DIFC Ltd acquired a new position in BancFirst during the 2nd quarter worth approximately $77,000. Institutional investors and hedge funds own 51.72% of the company’s stock.

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.