BancFirst (NASDAQ:BANF) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of BancFirst (NASDAQ:BANF) from a hold rating to a buy rating in a research report released on Tuesday, Zacks.com reports. They currently have $62.00 price target on the bank’s stock.

According to Zacks, “BancFirst Corporation is a bank holding company for BancFirst. BancFirst Corporation also owns 100% of the common securities of BFC Capital Trust I, and First State Bank. BancFirst’s strategy focuses on providing a full range of commercial banking services to retail customers and small to medium-sized businesses both in the non-metropolitan trade centers and the metropolitan markets. BancFirst operates as a super community bank, managing their community banking offices on a decentralized basis, which permits them to be responsive to local customer needs. “

Separately, BidaskClub lowered Walgreens Boots Alliance from a sell rating to a strong sell rating in a research note on Monday, June 24th.

Shares of NASDAQ BANF opened at $55.38 on Tuesday. BancFirst has a 12 month low of $48.07 and a 12 month high of $65.70. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of 14.50, a price-to-earnings-growth ratio of 2.02 and a beta of 0.83. The stock’s 50-day simple moving average is $55.43.

BancFirst (NASDAQ:BANF) last issued its quarterly earnings data on Thursday, April 18th. The bank reported $0.96 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.04. The company had revenue of $98.90 million during the quarter, compared to analyst estimates of $98.50 million. BancFirst had a return on equity of 14.31% and a net margin of 29.07%. As a group, analysts anticipate that BancFirst will post 3.89 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a $0.30 dividend. The ex-dividend date is Thursday, June 27th. This represents a $1.20 annualized dividend and a yield of 2.17%. BancFirst’s payout ratio is currently 31.41%.

In related news, Director Ronald J. Norick acquired 2,000 shares of the stock in a transaction on Tuesday, May 28th. The stock was purchased at an average price of $53.74 per share, for a total transaction of $107,480.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 38.27% of the company’s stock.

Several institutional investors have recently made changes to their positions in BANF. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of BancFirst during the first quarter valued at approximately $34,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in BancFirst by 77.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,043 shares of the bank’s stock worth $54,000 after purchasing an additional 456 shares in the last quarter. Acadian Asset Management LLC bought a new position in BancFirst in the fourth quarter worth $61,000. Amundi Pioneer Asset Management Inc. bought a new position in BancFirst in the first quarter worth $141,000. Finally, SG Americas Securities LLC bought a new position in BancFirst in the first quarter worth $157,000. Institutional investors own 33.97% 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. It operates through Metropolitan Banks, Community Banks, and Other Financial Services segments. The company offers checking accounts, negotiable order of withdrawal accounts, savings accounts, money market accounts, sweep accounts, club accounts, individual retirement accounts, and certificates of deposit, as well as overdraft protection and auto draft services.

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