Keefe, Bruyette & Woods Cuts BancFirst (NASDAQ:BANF) Price Target to $121.00

BancFirst (NASDAQ:BANF) had its target price decreased by Keefe, Bruyette & Woods from $123.00 to $121.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the bank’s stock.

BANF has been the topic of several other research reports. DA Davidson reiterated a “neutral” rating and issued a $125.00 price objective on shares of BancFirst in a research note on Friday, June 12th. Weiss Ratings downgraded BancFirst from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, July 16th. Wall Street Zen upgraded BancFirst from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. Finally, Zacks Research raised BancFirst from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, BancFirst has a consensus rating of “Moderate Buy” and a consensus target price of $123.00.

BancFirst Stock Performance

NASDAQ BANF opened at $113.01 on Wednesday. The company has a market capitalization of $3.80 billion, a PE ratio of 15.25 and a beta of 0.61. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.04 and a current ratio of 1.04. BancFirst has a 52-week low of $101.48 and a 52-week high of $138.77. The company has a 50-day simple moving average of $113.54 and a 200 day simple moving average of $112.35.

BancFirst (NASDAQ:BANF) last released its earnings results on Thursday, July 23rd. The bank reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.80 by $0.16. BancFirst had a net margin of 31.96% and a return on equity of 13.64%. The firm had revenue of $187.49 million for the quarter, compared to analysts’ expectations of $178.53 million. On average, research analysts predict that BancFirst will post 7.67 EPS for the current year.

BancFirst Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.49 per share. The ex-dividend date was Tuesday, June 30th. This represents a $1.96 annualized dividend and a dividend yield of 1.7%. BancFirst’s dividend payout ratio is currently 26.45%.

Insider Activity at BancFirst

In other news, Director David E. Rainbolt sold 81,492 shares of BancFirst stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $116.71, for a total value of $9,510,931.32. Following the completion of the transaction, the director directly owned 55,551 shares in the company, valued at approximately $6,483,357.21. The trade was a 59.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 158,277 shares of company stock valued at $18,388,319 over the last three months. 31.67% of the stock is owned by company insiders.

Institutional Investors Weigh In On BancFirst

A number of institutional investors and hedge funds have recently modified their holdings of BANF. Signaturefd LLC increased its position in shares of BancFirst by 5.2% during the 4th quarter. Signaturefd LLC now owns 1,873 shares of the bank’s stock valued at $199,000 after purchasing an additional 93 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in shares of BancFirst by 2.1% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,752 shares of the bank’s stock worth $504,000 after buying an additional 100 shares during the last quarter. Advisors Asset Management Inc. grew its position in BancFirst by 9.5% during the fourth quarter. Advisors Asset Management Inc. now owns 1,245 shares of the bank’s stock valued at $132,000 after buying an additional 108 shares during the period. ProShare Advisors LLC grew its position in BancFirst by 3.2% during the fourth quarter. ProShare Advisors LLC now owns 4,058 shares of the bank’s stock valued at $430,000 after buying an additional 127 shares during the period. Finally, Parallel Advisors LLC increased its holdings in BancFirst by 17.7% during the first quarter. Parallel Advisors LLC now owns 1,082 shares of the bank’s stock valued at $117,000 after buying an additional 163 shares during the last quarter. 51.72% of the stock is owned by hedge funds and other institutional investors.

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.