BancFirst (NASDAQ:BANF) Reaches New 1-Year High – Here’s Why

BancFirst Co. (NASDAQ:BANF)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $111.10 and last traded at $110.93, with a volume of 21739 shares. The stock had previously closed at $107.14.

Wall Street Analyst Weigh In

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

BancFirst Trading Up 2.1 %

The company has a debt-to-equity ratio of 0.06, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a fifty day simple moving average of $103.73 and a 200-day simple moving average of $94.76. The firm has a market cap of $3.61 billion, a P/E ratio of 18.02 and a beta of 1.03.

BancFirst (NASDAQ:BANF) last issued its quarterly earnings results on Thursday, July 18th. The bank reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.09. The company had revenue of $153.84 million during the quarter, compared to the consensus estimate of $149.75 million. BancFirst had a return on equity of 13.89% and a net margin of 23.46%. On average, equities research analysts expect that BancFirst Co. will post 6.09 earnings per share for the current year.

BancFirst Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a $0.46 dividend. The ex-dividend date of this dividend is Monday, September 30th. 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 1.68%. BancFirst’s payout ratio is 30.07%.

Insider Activity

In related news, EVP Dennis Jay Hannah sold 3,000 shares of BancFirst stock in a transaction on Friday, July 19th. The stock was 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 of the company’s stock, valued at approximately $821,541. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other BancFirst news, Director Dave R. Lopez sold 1,000 shares of BancFirst stock in a transaction dated 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 the SEC website. Also, 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 sale, the executive vice president now directly owns 7,714 shares of the company’s stock, valued at approximately $821,541. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 67,564 shares of company stock worth $7,150,517. 33.89% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of BANF. BancFirst Trust & Investment Management grew its holdings in shares of BancFirst by 50.8% during the 3rd quarter. BancFirst Trust & Investment Management now owns 1,702,082 shares of the bank’s stock worth $177,936,000 after acquiring an additional 573,224 shares during the period. Edgestream Partners L.P. purchased a new stake in shares of BancFirst in the 1st quarter worth $4,274,000. Millennium Management LLC increased its stake in BancFirst by 499.6% in the 2nd quarter. Millennium Management LLC now owns 57,614 shares of the bank’s stock worth $5,053,000 after buying an additional 48,006 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in BancFirst by 1.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,002,160 shares of the bank’s stock worth $87,888,000 after buying an additional 16,664 shares in the last quarter. Finally, Los Angeles Capital Management LLC boosted its holdings in shares of BancFirst by 255.9% during the 2nd quarter. Los Angeles Capital Management LLC now owns 15,750 shares of the bank’s stock valued at $1,381,000 after purchasing an additional 11,324 shares during the last quarter. Hedge funds and other institutional investors own 51.72% 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.