BancFirst (NASDAQ:BANF) Shares Gap Down to $105.25

BancFirst Co. (NASDAQ:BANF) gapped down before the market opened on Tuesday . The stock had previously closed at $105.25, but opened at $102.53. BancFirst shares last traded at $101.54, with a volume of 5,285 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BANF. Piper Sandler upped their target price on shares of BancFirst from $84.50 to $95.00 and gave the stock an “underweight” rating in a report on Monday, July 22nd. StockNews.com cut shares of BancFirst from a “hold” rating to a “sell” rating in a research note on Wednesday, September 4th.

BancFirst Trading Down 2.5 %

The company has a 50-day simple moving average of $104.23 and a 200-day simple moving average of $93.56. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a market cap of $3.38 billion, a P/E ratio of 16.79 and a beta of 1.03.

BancFirst (NASDAQ:BANF) last issued its quarterly earnings results on Thursday, July 18th. The bank reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.09. The business had revenue of $153.84 million for 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%. On average, sell-side analysts forecast that BancFirst Co. will post 6.07 EPS for the current fiscal year.

BancFirst Increases Dividend

The company 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 $0.46 dividend. This is a boost from BancFirst’s previous quarterly dividend of $0.43. This represents a $1.84 annualized dividend and a dividend yield of 1.79%. The ex-dividend date is Monday, September 30th. BancFirst’s dividend payout ratio (DPR) is 30.07%.

Insider Activity

In related news, EVP Dennis Jay Hannah sold 3,000 shares of BancFirst stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $106.50, for a total value of $319,500.00. Following the completion of the sale, the executive vice president now directly owns 7,714 shares in the company, valued at $821,541. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other BancFirst news, EVP Dennis Jay Hannah sold 3,000 shares of the company’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of $106.50, for a total transaction of $319,500.00. Following the completion of the sale, the executive vice president now owns 7,714 shares in the company, valued at approximately $821,541. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dave R. Lopez sold 1,000 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $102.13, for a total value of $102,130.00. The disclosure for this sale can be found here. Insiders have sold 67,564 shares of company stock valued at $7,150,517 over the last 90 days. 33.89% of the stock is owned by company insiders.

Institutional Investors Weigh In On BancFirst

Several large investors have recently bought and sold shares of BANF. Edgestream Partners L.P. bought a new position in BancFirst during the first quarter worth about $4,274,000. Millennium Management LLC lifted its holdings in shares of BancFirst by 499.6% during 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 in the last quarter. BancFirst Trust & Investment Management grew its position in shares of BancFirst by 4.2% in the 1st quarter. BancFirst Trust & Investment Management now owns 1,127,415 shares of the bank’s stock valued at $99,246,000 after purchasing an additional 45,629 shares during the period. Dimensional Fund Advisors LP increased its stake in BancFirst by 1.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,002,160 shares of the bank’s stock worth $87,888,000 after purchasing an additional 16,664 shares in the last quarter. Finally, Los Angeles Capital Management LLC raised its holdings in BancFirst by 255.9% during the 2nd quarter. Los Angeles Capital Management LLC now owns 15,750 shares of the bank’s stock worth $1,381,000 after buying an additional 11,324 shares during the period. Institutional investors own 51.72% of the company’s stock.

BancFirst Company 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.