Gallagher Fiduciary Advisors LLC Takes Position in BancFirst Corporation $BANF

Gallagher Fiduciary Advisors LLC acquired a new position in shares of BancFirst Corporation (NASDAQ:BANF) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 6,993 shares of the bank’s stock, valued at approximately $777,000.

A number of other large investors also recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in BancFirst during the 2nd quarter worth approximately $356,054,000. Norges Bank acquired a new stake in shares of BancFirst in the 4th quarter valued at $27,723,000. Bank of New York Mellon Corp purchased a new stake in shares of BancFirst during the 2nd quarter worth $17,920,000. State Street Corp lifted its position 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 last quarter. Finally, Millennium Management LLC acquired a new position in shares of BancFirst during the fourth quarter worth $8,316,000. Institutional investors and hedge funds own 51.72% of the company’s stock.

BancFirst Price Performance

Shares of BANF opened at $111.09 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.03 and a quick ratio of 1.02. BancFirst Corporation has a 1-year low of $101.48 and a 1-year high of $138.77. The stock has a market cap of $3.73 billion, a PE ratio of 14.99 and a beta of 0.61. The firm has a fifty day moving average price of $113.98 and a 200 day moving average price of $112.51.

BancFirst (NASDAQ:BANF) last issued its quarterly earnings data on Thursday, July 23rd. The bank reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.80 by $0.16. The company had revenue of $187.49 million for the quarter, compared to analyst estimates of $178.53 million. BancFirst had a return on equity of 13.44% and a net margin of 25.61%. As a group, sell-side analysts anticipate 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. Investors of record on Tuesday, June 30th were given a $0.49 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $1.96 annualized dividend and a yield of 1.8%. BancFirst’s dividend payout ratio is 26.45%.

Insider Buying and Selling

In related news, Director David E. Rainbolt sold 8,506 shares of the stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $115.00, for a total transaction of $978,190.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders have sold 166,783 shares of company stock valued at $19,366,509. 31.67% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on BANF shares. Zacks Research upgraded BancFirst from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 27th. DA Davidson reaffirmed a “neutral” rating and set a $125.00 price objective on shares of BancFirst in a research report on Friday, June 12th. Keefe, Bruyette & Woods cut their target price on BancFirst from $123.00 to $121.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 5th. Weiss Ratings cut BancFirst from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, July 16th. Finally, Wall Street Zen raised 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 data from MarketBeat.com, BancFirst has a consensus rating of “Moderate Buy” and an average target price of $123.00.

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.