Creative Planning Acquires 2,979 Shares of BancFirst Co. (NASDAQ:BANF)

Creative Planning boosted its stake in BancFirst Co. (NASDAQ:BANF) by 47.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,210 shares of the bank’s stock after purchasing an additional 2,979 shares during the period. Creative Planning’s holdings in BancFirst were worth $808,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of BancFirst by 557.1% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 506 shares of the bank’s stock valued at $45,000 after acquiring an additional 429 shares in the last quarter. EntryPoint Capital LLC grew its holdings in shares of BancFirst by 56.8% during the first quarter. EntryPoint Capital LLC now owns 842 shares of the bank’s stock worth $74,000 after purchasing an additional 305 shares during the last quarter. Point72 DIFC Ltd bought a new stake in shares of BancFirst during the second quarter worth about $77,000. Transcendent Capital Group LLC acquired a new position in shares of BancFirst in the first quarter valued at approximately $105,000. Finally, SG Americas Securities LLC bought a new position in BancFirst in the 1st quarter valued at approximately $137,000. Institutional investors own 51.72% of the company’s stock.

BancFirst Stock Performance

Shares of BANF stock opened at $106.59 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.97 and a quick ratio of 0.97. BancFirst Co. has a one year low of $79.99 and a one year high of $111.00. The business’s 50 day simple moving average is $103.52 and its 200 day simple moving average is $94.51. The stock has a market capitalization of $3.52 billion, a PE ratio of 17.79 and a beta of 1.03.

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

BancFirst Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a $0.46 dividend. The ex-dividend date is Monday, September 30th. This is a positive change from BancFirst’s previous quarterly dividend of $0.43. This represents a $1.84 annualized dividend and a yield of 1.73%. BancFirst’s payout ratio is 30.72%.

Analyst Ratings Changes

BANF has been the topic of a number of research reports. Piper Sandler boosted 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 downgraded BancFirst from a “hold” rating to a “sell” rating in a report on Wednesday, September 4th.

Insiders Place Their Bets

In other news, Director Leslie Jeannine Rainbolt sold 10,371 shares of BancFirst stock in a transaction on Friday, September 13th. The shares were sold at an average price of $105.02, for a total value of $1,089,162.42. Following the completion of the sale, the director now owns 4,944,702 shares in the company, valued at $519,292,604.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related 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 transaction of $1,089,162.42. Following the transaction, the director now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William Scott Martin sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $107.50, for a total value of $537,500.00. Following the transaction, the director now directly owns 326,904 shares in the company, valued at $35,142,180. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,564 shares of company stock worth $7,150,517. Corporate insiders own 33.89% 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.