Insider Selling: BancFirst (NASDAQ:BANF) Director Sells $978,190.00 in Stock

BancFirst Corporation (NASDAQ:BANF) Director David Rainbolt sold 8,506 shares of the firm’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $115.00, for a total transaction of $978,190.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

BancFirst Stock Performance

NASDAQ:BANF opened at $115.72 on Friday. The firm has a 50 day simple moving average of $114.05 and a 200-day simple moving average of $112.38. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.03 and a quick ratio of 1.04. The firm has a market cap of $3.89 billion, a PE ratio of 15.62 and a beta of 0.61. BancFirst Corporation has a 1-year low of $101.48 and a 1-year high of $138.77.

BancFirst (NASDAQ:BANF) last announced its quarterly earnings data on Thursday, July 23rd. The bank reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.16. BancFirst had a net margin of 25.61% and a return on equity of 13.44%. The business had revenue of $187.49 million for the quarter, compared to the consensus estimate of $178.53 million. On average, equities analysts expect that BancFirst Corporation will post 7.67 EPS for the current year.

BancFirst Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a $0.49 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $1.96 annualized dividend and a yield of 1.7%. BancFirst’s payout ratio is 26.45%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BANF. DA Davidson restated a “neutral” rating and set a $125.00 price objective on shares of BancFirst in a report on Friday, June 12th. Keefe, Bruyette & Woods dropped their target price on BancFirst from $123.00 to $121.00 and set a “market perform” rating for the company in a research note on Wednesday, August 5th. Zacks Research upgraded BancFirst from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. Weiss Ratings lowered BancFirst from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, July 16th. Finally, Wall Street Zen upgraded BancFirst from a “sell” rating to a “hold” rating in a report on Saturday, July 25th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company. According to MarketBeat, BancFirst currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BANF. BlackRock Inc. acquired a new stake in BancFirst during the second quarter worth about $356,054,000. Norges Bank acquired a new position in shares of BancFirst in the 4th quarter valued at about $27,723,000. Bank of New York Mellon Corp acquired a new position in shares of BancFirst in the 2nd quarter valued at about $17,920,000. State Street Corp grew its holdings in shares of BancFirst by 7.6% during the 4th quarter. State Street Corp now owns 1,375,873 shares of the bank’s stock worth $146,537,000 after purchasing an additional 96,957 shares during the period. Finally, Millennium Management LLC purchased a new stake in shares of BancFirst during the 4th quarter worth about $8,316,000. Institutional investors and hedge funds own 51.72% of the company’s stock.

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.