Amalgamated Bank Acquires 1,211 Shares of BancFirst Co. (NASDAQ:BANF)

Amalgamated Bank grew its holdings in BancFirst Co. (NASDAQ:BANF) by 26.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,827 shares of the bank’s stock after acquiring an additional 1,211 shares during the quarter. Amalgamated Bank’s holdings in BancFirst were worth $613,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of BANF. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of BancFirst during the third quarter worth $38,000. Blue Trust Inc. raised its stake in shares of BancFirst by 33.9% in the 3rd quarter. Blue Trust Inc. now owns 391 shares of the bank’s stock valued at $41,000 after purchasing an additional 99 shares during the period. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of BancFirst by 64.8% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 834 shares of the bank’s stock valued at $73,000 after purchasing an additional 328 shares in the last quarter. EntryPoint Capital LLC boosted its position 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 buying an additional 305 shares during the period. Finally, Point72 DIFC Ltd bought a new position in shares of BancFirst during the second quarter worth about $77,000. Institutional investors and hedge funds own 51.72% of the company’s stock.

Wall Street Analyst Weigh In

BANF has been the topic of several recent research reports. Piper Sandler lifted their price target 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. StockNews.com upgraded BancFirst from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Finally, DA Davidson raised their price target on BancFirst from $104.00 to $110.00 and gave the company a “neutral” rating in a research note on Monday, October 21st.

Insider Activity at BancFirst

In other news, Director David E. Rainbolt sold 18,376 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $106.22, for a total value of $1,951,898.72. Following the transaction, the director now directly owns 223,874 shares of the company’s stock, valued at $23,779,896.28. The trade was a 7.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William Scott Martin sold 25,000 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $123.00, for a total value of $3,075,000.00. Following the transaction, the director now owns 249,106 shares in the company, valued at $30,640,038. The trade was a 9.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 157,107 shares of company stock worth $17,847,219 in the last quarter. 33.89% of the stock is owned by insiders.

BancFirst Price Performance

Shares of NASDAQ BANF opened at $121.78 on Friday. The business has a fifty day moving average price of $109.61 and a two-hundred day moving average price of $99.43. The stock has a market capitalization of $4.03 billion, a PE ratio of 19.58 and a beta of 1.02. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.98 and a quick ratio of 0.98. BancFirst Co. has a fifty-two week low of $81.21 and a fifty-two week high of $129.00.

BancFirst (NASDAQ:BANF) last posted its quarterly earnings results on Thursday, October 17th. The bank reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.18. The business had revenue of $163.67 million for the quarter, compared to analyst estimates of $156.70 million. BancFirst had a net margin of 23.52% and a return on equity of 13.92%. As a group, equities analysts predict that BancFirst Co. will post 6.37 earnings per share for the current fiscal year.

BancFirst Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.46 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.84 annualized dividend and a dividend yield of 1.51%. This is an increase from BancFirst’s previous quarterly dividend of $0.43. BancFirst’s dividend payout ratio is currently 29.58%.

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.