BancFirst (NASDAQ:BANF) Reaches New 1-Year High – Here’s Why

BancFirst Co. (NASDAQ:BANF)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $111.10 and last traded at $110.93, with a volume of 21739 shares changing hands. The stock had previously closed at $107.14.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Piper Sandler raised their price objective on shares of BancFirst from $84.50 to $95.00 and gave the stock an “underweight” rating in a research note on Monday, July 22nd. StockNews.com lowered shares of BancFirst from a “hold” rating to a “sell” rating in a report on Wednesday, September 4th.

BancFirst Stock Up 2.1 %

The company has a market capitalization of $3.61 billion, a price-to-earnings ratio of 18.02 and a beta of 1.03. The business’s 50-day moving average is $103.73 and its 200-day moving average is $94.76. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.06.

BancFirst (NASDAQ:BANF) last released its earnings results on Thursday, July 18th. The bank reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.09. The business had revenue of $153.84 million during the quarter, compared to analysts’ expectations of $149.75 million. BancFirst had a net margin of 23.46% and a return on equity of 13.89%. As a group, equities analysts predict that BancFirst Co. will post 6.09 earnings per share for the current year.

BancFirst Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.46 per share. The ex-dividend date is Monday, September 30th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.68%. This is a boost from BancFirst’s previous quarterly dividend of $0.43. BancFirst’s payout ratio is currently 30.07%.

Insider Transactions at BancFirst

In other news, Director Leslie Jeannine Rainbolt sold 10,371 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $105.02, for a total transaction of $1,089,162.42. Following the completion of the sale, the director now owns 4,944,702 shares of the company’s stock, valued at $519,292,604.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Leslie Jeannine Rainbolt sold 10,371 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $105.02, for a total transaction of $1,089,162.42. Following the completion of the sale, the director now owns 4,944,702 shares of the company’s stock, valued at approximately $519,292,604.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David E. Rainbolt sold 1,391 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $105.01, for a total transaction of $146,068.91. Following the sale, the director now directly owns 215,024 shares of the company’s stock, valued at approximately $22,579,670.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 67,564 shares of company stock valued at $7,150,517 over the last 90 days. Corporate insiders own 33.89% of the company’s stock.

Institutional Trading of BancFirst

Several large investors have recently bought and sold shares of the business. BancFirst Trust & Investment Management boosted its holdings in BancFirst by 50.8% in the 3rd quarter. BancFirst Trust & Investment Management now owns 1,702,082 shares of the bank’s stock valued at $177,936,000 after purchasing an additional 573,224 shares during the last quarter. Edgestream Partners L.P. acquired a new position in BancFirst in the 1st quarter valued at about $4,274,000. Millennium Management LLC boosted its holdings in BancFirst by 499.6% in the 2nd quarter. Millennium Management LLC now owns 57,614 shares of the bank’s stock valued at $5,053,000 after purchasing an additional 48,006 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in BancFirst by 1.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,002,160 shares of the bank’s stock valued at $87,888,000 after purchasing an additional 16,664 shares during the last quarter. Finally, Los Angeles Capital Management LLC boosted its holdings in BancFirst by 255.9% in the 2nd quarter. Los Angeles Capital Management LLC now owns 15,750 shares of the bank’s stock valued at $1,381,000 after purchasing an additional 11,324 shares during the last quarter. Hedge funds and other institutional investors own 51.72% of the company’s stock.

About BancFirst

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.