BancFirst Co. (NASDAQ:BANF) Major Shareholder Sells $2,332,142.44 in Stock

BancFirst Co. (NASDAQ:BANF) major shareholder Main Street Banking Partners L sold 22,114 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $105.46, for a total value of $2,332,142.44. Following the sale, the insider now owns 4,958,095 shares of the company’s stock, valued at $522,880,698.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

BancFirst Stock Performance

Shares of BancFirst stock opened at $104.67 on Thursday. The business’s 50 day moving average price is $101.00 and its 200 day moving average price is $91.84. The company has a market cap of $3.45 billion, a price-to-earnings ratio of 17.10 and a beta of 1.03. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.97 and a current ratio of 0.97. BancFirst Co. has a one year low of $79.99 and a one year high of $110.79.

BancFirst (NASDAQ:BANF) last issued its earnings results on Thursday, July 18th. The bank reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.09. The business 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, research analysts predict that BancFirst Co. will post 6.07 EPS for the current year.

BancFirst Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.46 per share. The ex-dividend date of this dividend is Monday, September 30th. This is an increase from BancFirst’s previous quarterly dividend of $0.43. This represents a $1.84 dividend on an annualized basis and a yield of 1.76%. BancFirst’s payout ratio is 30.07%.

Wall Street Analysts Forecast Growth

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

Institutional Trading of BancFirst

Several hedge funds have recently made changes to their positions in BANF. Norges Bank purchased a new stake in shares of BancFirst during the 4th quarter valued at approximately $23,802,000. Edgestream Partners L.P. acquired a new stake in BancFirst during the first quarter worth $4,274,000. Millennium Management LLC raised its position in BancFirst by 499.6% in the second quarter. Millennium Management LLC now owns 57,614 shares of the bank’s stock valued at $5,053,000 after purchasing an additional 48,006 shares during the period. BancFirst Trust & Investment Management lifted its stake in shares of BancFirst by 4.2% in the 1st quarter. BancFirst Trust & Investment Management now owns 1,127,415 shares of the bank’s stock valued at $99,246,000 after purchasing an additional 45,629 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of BancFirst by 1.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,002,160 shares of the bank’s stock worth $87,888,000 after purchasing an additional 16,664 shares during the period. 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.