BancFirst (NASDAQ:BANF) Announces Earnings Results

BancFirst (NASDAQ:BANF) issued its earnings results on Thursday. The bank reported $1.96 EPS for the quarter, topping the consensus estimate of $1.80 by $0.16, Zacks reports. BancFirst had a net margin of 25.50% and a return on equity of 13.62%.

BancFirst Price Performance

Shares of NASDAQ BANF traded down $0.44 during trading on Thursday, reaching $114.92. The company had a trading volume of 126,213 shares, compared to its average volume of 150,096. The company has a current ratio of 1.04, a quick 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. The stock has a 50-day moving average price of $112.54 and a two-hundred day moving average price of $112.00. The stock has a market capitalization of $3.86 billion, a PE ratio of 15.74 and a beta of 0.59.

BancFirst Dividend Announcement

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

Analysts Set New Price Targets

Several analysts recently commented on BANF shares. Weiss Ratings cut shares of BancFirst from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, July 16th. DA Davidson restated a “neutral” rating and issued a $125.00 price target on shares of BancFirst in a research report on Friday, June 12th. Four analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $124.00.

Insider Activity at BancFirst

In related news, Director David E. Rainbolt sold 9,001 shares of BancFirst stock in a transaction dated Thursday, May 7th. The stock was 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 owned 166,783 shares in the company, valued at approximately $19,198,391.13. This trade represents a 5.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 40,690 shares of company stock worth $4,694,328 over the last quarter. 31.67% of the stock is owned by company insiders.

Institutional Trading of BancFirst

Hedge funds and other institutional investors have recently bought and sold shares of the company. Advisors Asset Management Inc. raised its stake in BancFirst by 9.5% during the fourth quarter. Advisors Asset Management Inc. now owns 1,245 shares of the bank’s stock worth $132,000 after purchasing an additional 108 shares during the period. Parkside Financial Bank & Trust grew its stake in shares of BancFirst by 11.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,551 shares of the bank’s stock valued at $164,000 after buying an additional 165 shares during the period. Quarry LP grew its stake in shares of BancFirst by 531.4% during the 3rd quarter. Quarry LP now owns 221 shares of the bank’s stock valued at $28,000 after buying an additional 186 shares during the period. Alliancebernstein L.P. increased its holdings in shares of BancFirst by 0.7% during the 3rd quarter. Alliancebernstein L.P. now owns 26,071 shares of the bank’s stock worth $3,297,000 after buying an additional 190 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its holdings in BancFirst by 0.9% in the second quarter. CANADA LIFE ASSURANCE Co now owns 23,427 shares of the bank’s stock valued at $2,897,000 after acquiring an additional 208 shares during the last quarter. 51.72% of the stock is owned by hedge funds and other institutional investors.

BancFirst Company Profile

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.