DA Davidson Reiterates “Neutral” Rating for BancFirst (NASDAQ:BANF)

BancFirst (NASDAQ:BANF)‘s stock had its “neutral” rating reiterated by equities research analysts at DA Davidson in a research report issued on Friday,Benzinga reports. They presently have a $125.00 price objective on the bank’s stock. DA Davidson’s target price would suggest a potential upside of 7.82% from the stock’s previous close.

Separately, Weiss Ratings lowered BancFirst from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, BancFirst currently has an average rating of “Hold” and an average target price of $124.00.

BancFirst Stock Up 1.6%

BancFirst stock traded up $1.78 during mid-day trading on Friday, hitting $115.93. The company had a trading volume of 54,168 shares, compared to its average volume of 135,660. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.05. BancFirst has a 1 year low of $101.48 and a 1 year high of $138.77. The business has a fifty day moving average of $111.73 and a 200 day moving average of $111.31. The stock has a market cap of $3.89 billion, a price-to-earnings ratio of 15.88 and a beta of 0.59.

BancFirst (NASDAQ:BANF) last issued its earnings results on Thursday, April 16th. The bank reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.08. BancFirst had a net margin of 25.50% and a return on equity of 13.62%. The business had revenue of $179.00 million during the quarter, compared to analysts’ expectations of $177.19 million. During the same quarter in the prior year, the business posted $1.66 EPS. On average, sell-side analysts expect that BancFirst will post 7.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director David E. Rainbolt sold 9,001 shares of the company’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $115.11, for a total value of $1,036,105.11. Following the completion of the sale, the director owned 166,783 shares in the company, valued at $19,198,391.13. This represents a 5.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders have sold 58,217 shares of company stock valued at $6,719,223. 31.67% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of BANF. Envestnet Asset Management Inc. boosted its stake in shares of BancFirst by 49.4% during the third quarter. Envestnet Asset Management Inc. now owns 45,208 shares of the bank’s stock worth $5,717,000 after buying an additional 14,947 shares during the period. Clark Capital Management Group Inc. increased its position in BancFirst by 37.6% in the 3rd quarter. Clark Capital Management Group Inc. now owns 62,605 shares of the bank’s stock valued at $7,916,000 after acquiring an additional 17,092 shares during the period. Public Sector Pension Investment Board raised its stake in BancFirst by 18.4% during the 3rd quarter. Public Sector Pension Investment Board now owns 80,535 shares of the bank’s stock valued at $10,184,000 after acquiring an additional 12,535 shares during the last quarter. SG Americas Securities LLC raised its stake in BancFirst by 1,012.1% during the 4th quarter. SG Americas Securities LLC now owns 11,722 shares of the bank’s stock valued at $1,243,000 after acquiring an additional 10,668 shares during the last quarter. Finally, Mitchell & Pahl Private Wealth LLC acquired a new stake in BancFirst during the 4th quarter worth approximately $1,039,000. 51.72% of the stock is currently owned by institutional investors and hedge funds.

BancFirst Company Profile

BancFirst Corporation is a regional banking holding company based in Oklahoma City, Oklahoma. As the largest state‐chartered bank in Oklahoma, BancFirst offers a comprehensive suite of financial services to individuals, businesses and government entities. Its core business activities include commercial and consumer banking, mortgage lending, treasury management, equipment financing and electronic banking solutions.

The bank operates a network of more than 60 branches across Oklahoma, serving urban centers such as Oklahoma City and Tulsa, as well as rural communities throughout the state.