DA Davidson Raises BancFirst (NASDAQ:BANF) Price Target to $110.00

BancFirst (NASDAQ:BANF) had its target price hoisted by DA Davidson from $104.00 to $110.00 in a research report sent to investors on Monday morning, Benzinga reports. The firm currently has a neutral rating on the bank’s stock. DA Davidson also issued estimates for BancFirst’s Q4 2024 earnings at $1.59 EPS and FY2024 earnings at $6.35 EPS.

Several other brokerages have also issued reports on BANF. Piper Sandler increased their price target on shares of BancFirst from $84.50 to $95.00 and gave the stock an “underweight” rating in a research note on Monday, July 22nd. StockNews.com downgraded shares of BancFirst from a “hold” rating to a “sell” rating in a research note on Wednesday, September 4th.

BancFirst Trading Up 0.1 %

NASDAQ BANF opened at $110.10 on Monday. The firm has a market capitalization of $3.63 billion, a PE ratio of 17.99 and a beta of 1.03. The stock’s 50 day moving average is $105.54 and its 200 day moving average is $95.97. BancFirst has a twelve month low of $79.99 and a twelve month high of $115.62. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.06.

BancFirst Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $0.46 per share. The ex-dividend date of this dividend was Monday, September 30th. This is an increase from BancFirst’s previous quarterly dividend of $0.43. This represents a $1.84 annualized dividend and a dividend yield of 1.67%. BancFirst’s dividend payout ratio (DPR) is presently 30.07%.

Insider Buying and Selling

In other BancFirst news, Director Dave R. Lopez sold 1,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $102.13, for a total transaction of $102,130.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Dave R. Lopez sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $102.13, for a total value of $102,130.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director David E. Rainbolt sold 5,601 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $110.21, for a total transaction of $617,286.21. Following the sale, the director now directly owns 208,723 shares of the company’s stock, valued at $23,003,361.83. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,095 shares of company stock worth $7,021,614 in the last quarter. Corporate insiders own 33.89% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of BANF. Diversified Trust Co raised its position in BancFirst by 25.2% in the 1st quarter. Diversified Trust Co now owns 4,844 shares of the bank’s stock worth $426,000 after buying an additional 975 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in shares of BancFirst by 557.1% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 506 shares of the bank’s stock valued at $45,000 after purchasing an additional 429 shares during the last quarter. SpiderRock Advisors LLC bought a new position in BancFirst during the first quarter valued at approximately $257,000. BNP Paribas Financial Markets boosted its holdings in BancFirst by 85.7% in the first quarter. BNP Paribas Financial Markets now owns 10,980 shares of the bank’s stock worth $967,000 after purchasing an additional 5,066 shares during the last quarter. Finally, Texas Permanent School Fund Corp grew its position in BancFirst by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 12,682 shares of the bank’s stock worth $1,116,000 after purchasing an additional 168 shares during the period. 51.72% of the stock is owned by institutional investors.

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.