Insider Selling: BancFirst (NASDAQ:BANF) Director Sells $2,051,519.80 in Stock

BancFirst Corporation (NASDAQ:BANF) Director David Rainbolt sold 17,830 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $115.06, for a total value of $2,051,519.80. Following the completion of the transaction, the director directly owned 13,506 shares of the company’s stock, valued at $1,554,000.36. This trade represents a 56.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

BancFirst Stock Down 0.7%

BANF opened at $113.33 on Friday. BancFirst Corporation has a 12 month low of $101.48 and a 12 month high of $138.77. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market cap of $3.81 billion, a P/E ratio of 15.29 and a beta of 0.61. The stock’s 50 day moving average price is $113.49 and its 200 day moving average price is $112.34.

BancFirst (NASDAQ:BANF) last announced its quarterly earnings results on Friday, July 24th. The bank reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.80 by $0.16. BancFirst had a return on equity of 13.64% and a net margin of 31.96%.The company had revenue of $187.49 million during the quarter, compared to analyst estimates of $178.53 million. As a group, research analysts predict that BancFirst Corporation will post 7.67 earnings per share for the current year.

BancFirst Announces Dividend

The business also recently disclosed 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. This represents a $1.96 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Tuesday, June 30th. BancFirst’s payout ratio is currently 26.45%.

Hedge Funds Weigh In On BancFirst

Hedge funds have recently modified their holdings of the stock. Norges Bank acquired a new position in shares of BancFirst in the 4th quarter valued at $27,723,000. Bank of New York Mellon Corp purchased a new position in BancFirst in the 2nd quarter worth about $17,920,000. State Street Corp raised its holdings in 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 buying an additional 96,957 shares during the period. Millennium Management LLC acquired a new stake in BancFirst during the 4th quarter worth about $8,316,000. Finally, Invesco Ltd. lifted its stake in BancFirst by 73.4% during the third quarter. Invesco Ltd. now owns 163,512 shares of the bank’s stock valued at $20,676,000 after buying an additional 69,192 shares in the last quarter. 51.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on BANF shares. DA Davidson reissued a “neutral” rating and set a $125.00 target price on shares of BancFirst in a research note on Friday, June 12th. Weiss Ratings lowered shares of BancFirst from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, July 16th. Keefe, Bruyette & Woods decreased their price objective on shares of BancFirst from $123.00 to $121.00 and set a “market perform” rating for the company in a report on Wednesday. Wall Street Zen upgraded shares of BancFirst from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. Finally, Zacks Research raised BancFirst from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. One 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 currently has an average rating of “Moderate Buy” and a consensus price target of $123.00.

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.