Cornerstone Wealth Management LLC cut its holdings in shares of BancFirst Co. (NASDAQ:BANF) by 5.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 55,892 shares of the bank’s stock after selling 3,033 shares during the period. Cornerstone Wealth Management LLC owned 0.17% of BancFirst worth $978,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Wells Fargo & Company MN increased its stake in BancFirst by 4.3% during the 1st quarter. Wells Fargo & Company MN now owns 29,535 shares of the bank’s stock worth $1,568,000 after purchasing an additional 1,213 shares in the last quarter. Barclays PLC increased its stake in BancFirst by 84.1% during the 1st quarter. Barclays PLC now owns 4,933 shares of the bank’s stock worth $262,000 after purchasing an additional 2,253 shares in the last quarter. Guggenheim Capital LLC increased its stake in BancFirst by 4.5% during the 1st quarter. Guggenheim Capital LLC now owns 37,358 shares of the bank’s stock worth $1,983,000 after purchasing an additional 1,597 shares in the last quarter. Millennium Management LLC bought a new stake in BancFirst during the 1st quarter worth approximately $9,751,000. Finally, Legal & General Group Plc increased its stake in BancFirst by 14.7% during the 1st quarter. Legal & General Group Plc now owns 7,010 shares of the bank’s stock worth $372,000 after purchasing an additional 900 shares in the last quarter. 33.35% of the stock is currently owned by institutional investors and hedge funds.
In other BancFirst news, insider Kevin Lawrence sold 1,250 shares of the company’s stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $64.00, for a total transaction of $80,000.00. Following the completion of the transaction, the insider now owns 1,250 shares of the company’s stock, valued at approximately $80,000. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider David Seat sold 528 shares of the company’s stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $61.25, for a total value of $32,340.00. Following the transaction, the insider now directly owns 8,028 shares of the company’s stock, valued at approximately $491,715. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,132 shares of company stock valued at $134,819. Insiders own 42.32% of the company’s stock.
NASDAQ BANF opened at $57.23 on Friday. BancFirst Co. has a 52-week low of $50.80 and a 52-week high of $65.70. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market cap of $1.88 billion, a P/E ratio of 21.04, a price-to-earnings-growth ratio of 2.18 and a beta of 0.67.
BancFirst (NASDAQ:BANF) last posted its earnings results on Friday, October 19th. The bank reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.06. BancFirst had a return on equity of 14.15% and a net margin of 25.59%. The business had revenue of $98.47 million during the quarter, compared to analysts’ expectations of $96.77 million. As a group, sell-side analysts expect that BancFirst Co. will post 3.76 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Friday, September 28th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $1.20 dividend on an annualized basis and a yield of 2.10%. This is an increase from BancFirst’s previous quarterly dividend of $0.21. BancFirst’s dividend payout ratio is 44.12%.
BANF has been the subject of a number of research reports. Zacks Investment Research raised BancFirst from a “hold” rating to a “buy” rating and set a $72.00 target price for the company in a research note on Monday, July 23rd. BidaskClub cut BancFirst from a “hold” rating to a “sell” rating in a research note on Wednesday, August 8th. Finally, ValuEngine cut BancFirst from a “hold” rating to a “sell” rating in a research note on Monday, September 17th.
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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