BancFirst (NASDAQ:BANF) Issues Earnings Results

BancFirst (NASDAQ:BANF) released its quarterly 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 return on equity of 13.62% and a net margin of 25.50%.

BancFirst Stock Down 0.4%

Shares of NASDAQ:BANF traded down $0.44 during trading hours on Thursday, reaching $114.92. The stock had a trading volume of 126,213 shares, compared to its average volume of 150,096. The stock has a market capitalization of $3.86 billion, a price-to-earnings ratio of 15.74 and a beta of 0.59. BancFirst has a 1 year low of $101.48 and a 1 year high of $138.77. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.04 and a current ratio of 1.04. The firm’s 50 day moving average is $112.54 and its 200-day moving average is $112.00.

BancFirst Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other BancFirst news, Director David E. Rainbolt sold 9,001 shares of BancFirst stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $115.11, for a total value of $1,036,105.11. Following the transaction, the director directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 40,690 shares of company stock worth $4,694,328. 31.67% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On BancFirst

Institutional investors have recently bought and sold shares of the company. Corient Private Wealth LLC raised its position in BancFirst by 56.4% during the 4th quarter. Corient Private Wealth LLC now owns 3,623 shares of the bank’s stock worth $384,000 after buying an additional 1,306 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its stake in shares of BancFirst by 8.5% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 17,594 shares of the bank’s stock worth $1,865,000 after acquiring an additional 1,382 shares during the period. Voloridge Investment Management LLC raised its holdings in BancFirst by 35.4% during the fourth quarter. Voloridge Investment Management LLC now owns 32,290 shares of the bank’s stock worth $3,423,000 after purchasing an additional 8,441 shares in the last quarter. Tudor Investment Corp ET AL lifted its position in BancFirst by 933.0% in the fourth quarter. Tudor Investment Corp ET AL now owns 31,105 shares of the bank’s stock valued at $3,298,000 after purchasing an additional 28,094 shares during the period. Finally, Twinbeech Capital LP purchased a new stake in BancFirst in the 4th quarter valued at approximately $211,000. 51.72% of the stock is owned by institutional investors and hedge funds.

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.