BancFirst (NASDAQ:BANF) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of BancFirst (NASDAQ:BANF) from a hold rating to a strong-buy rating in a report released on Monday,Zacks.com reports.

BANF has been the subject of several other research reports. Wall Street Zen raised shares of BancFirst from a “sell” rating to a “hold” rating in a research note on Saturday. DA Davidson reissued a “neutral” rating and set a $125.00 target price on shares of BancFirst in a research report on Friday, June 12th. Finally, Weiss Ratings cut BancFirst from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $124.00.

BancFirst Price Performance

NASDAQ BANF opened at $115.72 on Monday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $3.89 billion, a PE ratio of 15.62 and a beta of 0.59. The company has a 50 day moving average price of $113.17 and a two-hundred day moving average price of $112.23. BancFirst has a 12-month low of $101.48 and a 12-month high of $138.77.

BancFirst (NASDAQ:BANF) last posted its earnings results on Friday, July 24th. The bank reported $1.96 EPS for the quarter, topping the consensus estimate of $1.80 by $0.16. BancFirst had a net margin of 31.96% and a return on equity of 13.64%. The company had revenue of $187.49 million during the quarter, compared to the consensus estimate of $178.53 million. As a group, equities analysts predict that BancFirst will post 7.55 earnings per share for the current fiscal year.

BancFirst Dividend Announcement

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

Insider Transactions at BancFirst

In other BancFirst news, Director David E. Rainbolt sold 29,740 shares of the firm’s stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $116.49, for a total value of $3,464,412.60. Following the sale, the director owned 137,043 shares of the company’s stock, valued at $15,964,139.07. This trade represents a 17.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last quarter, insiders sold 44,960 shares of company stock valued at $5,216,138. Company insiders own 31.67% of the company’s stock.

Institutional Investors Weigh In On BancFirst

Hedge funds have recently modified their holdings of the business. Advisors Asset Management Inc. grew its stake in shares of BancFirst by 108.6% in the first quarter. Advisors Asset Management Inc. now owns 559 shares of the bank’s stock worth $61,000 after acquiring an additional 291 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in BancFirst by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,844 shares of the bank’s stock valued at $1,301,000 after purchasing an additional 505 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in BancFirst by 8.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 46,396 shares of the bank’s stock valued at $5,098,000 after purchasing an additional 3,433 shares during the period. Jane Street Group LLC acquired a new stake in BancFirst in the 1st quarter worth $3,646,000. Finally, Cetera Investment Advisers acquired a new stake in BancFirst in the 2nd quarter worth $207,000. 51.72% of the stock is owned by institutional investors.

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.