Texas Permanent School Fund Corp Sells 411 Shares of BancFirst Co. (NASDAQ:BANF)

Texas Permanent School Fund Corp decreased its position in BancFirst Co. (NASDAQ:BANF) by 3.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 12,271 shares of the bank’s stock after selling 411 shares during the period. Texas Permanent School Fund Corp’s holdings in BancFirst were worth $1,076,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in BANF. Benjamin F. Edwards & Company Inc. boosted its position in 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 buying an additional 429 shares during the period. EntryPoint Capital LLC raised its stake in shares of BancFirst by 56.8% during the first quarter. EntryPoint Capital LLC now owns 842 shares of the bank’s stock valued at $74,000 after acquiring an additional 305 shares during the last quarter. Transcendent Capital Group LLC purchased a new stake in shares of BancFirst during the first quarter worth about $105,000. SG Americas Securities LLC bought a new stake in shares of BancFirst in the first quarter worth about $137,000. Finally, Curated Wealth Partners LLC increased its holdings in BancFirst by 180.4% during the 2nd quarter. Curated Wealth Partners LLC now owns 2,433 shares of the bank’s stock valued at $213,000 after purchasing an additional 5,460 shares during the period. 51.72% of the stock is owned by hedge funds and other institutional investors.

BancFirst Trading Down 2.2 %

Shares of BANF opened at $107.95 on Friday. BancFirst Co. has a 1-year low of $79.99 and a 1-year high of $111.00. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.06. The firm’s 50-day moving average price is $103.30 and its 200-day moving average price is $92.61. The firm has a market capitalization of $3.56 billion, a price-to-earnings ratio of 17.84 and a beta of 1.03.

BancFirst (NASDAQ:BANF) last issued its quarterly earnings data on Thursday, July 18th. The bank reported $1.51 EPS 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 business had revenue of $153.84 million during the quarter, compared to analyst estimates of $149.75 million. Sell-side analysts anticipate that BancFirst Co. will post 6.07 EPS for the current year.

BancFirst Increases Dividend

The company also recently declared 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. The ex-dividend date of this dividend 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 dividend yield of 1.70%. BancFirst’s payout ratio is currently 30.07%.

Insider Buying and Selling

In other BancFirst news, 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 transaction of $102,130.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Dave R. Lopez sold 1,000 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $102.13, for a total value of $102,130.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William Scott Martin sold 5,000 shares of BancFirst stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $107.50, for a total transaction of $537,500.00. Following the transaction, the director now directly owns 326,904 shares of the company’s stock, valued at $35,142,180. The disclosure for this sale can be found here. Insiders have sold a total of 67,564 shares of company stock valued at $7,150,517 over the last ninety days. Company insiders own 33.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Piper Sandler increased their price objective on 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.

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.