Arizona State Retirement System Grows Stock Position in BancFirst Co. (NASDAQ:BANF)

Arizona State Retirement System boosted its position in BancFirst Co. (NASDAQ:BANF) by 1.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,993 shares of the bank’s stock after purchasing an additional 112 shares during the quarter. Arizona State Retirement System’s holdings in BancFirst were worth $526,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its stake in BancFirst by 8.6% in the 2nd quarter. Victory Capital Management Inc. now owns 8,798 shares of the bank’s stock valued at $772,000 after purchasing an additional 700 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of BancFirst by 49.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,058 shares of the bank’s stock valued at $444,000 after acquiring an additional 1,675 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in shares of BancFirst by 1.4% during the 2nd quarter. Louisiana State Employees Retirement System now owns 7,300 shares of the bank’s stock valued at $640,000 after acquiring an additional 100 shares during the last quarter. SummerHaven Investment Management LLC increased its stake in shares of BancFirst by 2.3% during the 2nd quarter. SummerHaven Investment Management LLC now owns 7,943 shares of the bank’s stock valued at $697,000 after acquiring an additional 175 shares during the last quarter. Finally, AlphaMark Advisors LLC acquired a new position in shares of BancFirst during the 2nd quarter valued at about $297,000. Institutional investors and hedge funds own 51.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BANF. StockNews.com downgraded shares of BancFirst from a “hold” rating to a “sell” rating in a research note on Wednesday, September 4th. Piper Sandler upped their price objective on shares of BancFirst from $84.50 to $95.00 and gave the company an “underweight” rating in a research note on Monday, July 22nd.

BancFirst Stock Up 0.8 %

BANF opened at $105.59 on Tuesday. The firm has a 50 day moving average price of $102.13 and a 200 day moving average price of $92.24. The company has a market cap of $3.48 billion, a PE ratio of 17.25 and a beta of 1.03. BancFirst Co. has a 1 year low of $79.99 and a 1 year high of $110.79. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.97 and a current ratio of 0.97.

BancFirst (NASDAQ:BANF) last posted its earnings results on Thursday, July 18th. The bank reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.09. The firm had revenue of $153.84 million during the quarter, compared to the consensus estimate of $149.75 million. BancFirst had a net margin of 23.46% and a return on equity of 13.89%. Sell-side analysts expect that BancFirst Co. will post 6.07 earnings per share for the current year.

BancFirst Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date is Monday, September 30th. This is an increase from BancFirst’s previous quarterly dividend of $0.43. BancFirst’s dividend payout ratio is 30.07%.

Insiders Place Their Bets

In other BancFirst news, Director Leslie Jeannine Rainbolt sold 10,371 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $105.02, for a total value of $1,089,162.42. Following the completion of the transaction, the director now owns 4,944,702 shares in the company, valued at approximately $519,292,604.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other BancFirst news, Director Leslie Jeannine Rainbolt sold 10,371 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $105.02, for a total value of $1,089,162.42. Following the completion of the transaction, the director now owns 4,944,702 shares in the company, valued at approximately $519,292,604.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Main Street Banking Partners L sold 22,114 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $105.46, for a total value of $2,332,142.44. Following the completion of the transaction, the insider now owns 4,958,095 shares of the company’s stock, valued at approximately $522,880,698.70. The disclosure for this sale can be found here. Insiders sold a total of 67,564 shares of company stock worth $7,150,517 in the last 90 days. 33.89% of the stock is owned by company insiders.

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.