Parkside Financial Bank & Trust Raises Stock Holdings in BancFirst Corporation $BANF

Parkside Financial Bank & Trust boosted its stake in BancFirst Corporation (NASDAQ:BANF) by 2,076.1% during the second quarter, HoldingsChannel reports. The firm owned 1,001 shares of the bank’s stock after buying an additional 955 shares during the period. Parkside Financial Bank & Trust’s holdings in BancFirst were worth $124,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Bank of Montreal Can grew its stake in BancFirst by 2.8% in the 2nd quarter. Bank of Montreal Can now owns 4,926 shares of the bank’s stock worth $609,000 after buying an additional 134 shares in the last quarter. Atria Investments Inc grew its position in BancFirst by 10.2% in the second quarter. Atria Investments Inc now owns 14,449 shares of the bank’s stock worth $1,786,000 after acquiring an additional 1,341 shares in the last quarter. World Investment Advisors purchased a new position in BancFirst in the second quarter worth $322,000. Envestnet Asset Management Inc. increased its stake in BancFirst by 3.6% in the second quarter. Envestnet Asset Management Inc. now owns 30,261 shares of the bank’s stock valued at $3,741,000 after acquiring an additional 1,055 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its position in BancFirst by 548.4% during the second quarter. Nisa Investment Advisors LLC now owns 201 shares of the bank’s stock valued at $25,000 after purchasing an additional 170 shares in the last quarter. 51.72% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director F Ford Drummond sold 5,000 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $126.29, for a total transaction of $631,450.00. Following the transaction, the director directly owned 6,000 shares of the company’s stock, valued at $757,740. This represents a 45.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 32.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. DA Davidson upped their price objective on BancFirst from $120.00 to $136.00 and gave the stock a “neutral” rating in a report on Monday, July 21st. Weiss Ratings restated a “buy (b-)” rating on shares of BancFirst in a research report on Wednesday, October 8th. Wall Street Zen lowered BancFirst from a “hold” rating to a “sell” rating in a research note on Saturday, October 25th. Zacks Research downgraded shares of BancFirst from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 16th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of BancFirst from $132.00 to $120.00 and set a “market perform” rating for the company in a report on Monday, October 20th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $128.00.

BancFirst Price Performance

Shares of BANF stock opened at $112.73 on Tuesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.01 and a current ratio of 1.01. The business’s 50 day moving average price is $122.94 and its 200-day moving average price is $124.52. The firm has a market cap of $3.75 billion, a P/E ratio of 15.99 and a beta of 0.78. BancFirst Corporation has a fifty-two week low of $97.02 and a fifty-two week high of $138.77.

BancFirst (NASDAQ:BANF) last posted its earnings results on Friday, October 17th. The bank reported $1.85 earnings per share for the quarter, missing analysts’ consensus estimates of $1.87 by ($0.02). The firm had revenue of $175.48 million for the quarter, compared to analysts’ expectations of $174.60 million. BancFirst had a return on equity of 14.19% and a net margin of 24.94%. On average, equities research analysts anticipate that BancFirst Corporation will post 6.52 earnings per share for the current year.

BancFirst Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were issued 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 of this dividend was Tuesday, September 30th. This is a boost from BancFirst’s previous quarterly dividend of $0.46. BancFirst’s payout ratio is 27.80%.

BancFirst Profile

BancFirst Corporation operates as the bank holding company for BancFirst that provides a range of commercial banking services to retail customers, and small to medium-sized businesses. The company operates through BancFirst Metropolitan Banks, BancFirst Community Banks, Pegasus, Worthington, and Other Financial Services segments.