Louisiana State Employees Retirement System Buys 100 Shares of BancFirst Co. (NASDAQ:BANF)

Louisiana State Employees Retirement System lifted its stake in shares of BancFirst Co. (NASDAQ:BANF) by 1.4% in the second quarter, according to its most recent filing with the SEC. The fund owned 7,300 shares of the bank’s stock after acquiring an additional 100 shares during the period. Louisiana State Employees Retirement System’s holdings in BancFirst were worth $640,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BANF. GAMMA Investing LLC purchased a new position in shares of BancFirst in the 4th quarter worth about $25,000. Global Retirement Partners LLC purchased a new stake in BancFirst in the first quarter worth approximately $35,000. Benjamin F. Edwards & Company Inc. grew its position in 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 acquiring an additional 429 shares during the last quarter. EntryPoint Capital LLC raised its stake in shares of BancFirst by 56.8% during the first quarter. EntryPoint Capital LLC now owns 842 shares of the bank’s stock worth $74,000 after acquiring an additional 305 shares in the last quarter. Finally, Transcendent Capital Group LLC bought a new stake in shares of BancFirst in the 1st quarter worth approximately $105,000. 51.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other BancFirst news, Director William Scott Martin sold 5,000 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $107.50, for a total value of $537,500.00. Following the completion of the transaction, the director now owns 326,904 shares in the company, valued at $35,142,180. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other BancFirst news, Director William Scott Martin sold 5,000 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $107.50, for a total value of $537,500.00. Following the sale, the director now owns 326,904 shares in the company, valued at $35,142,180. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David E. Rainbolt sold 18,376 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $106.22, for a total transaction of $1,951,898.72. Following the transaction, the director now directly owns 223,874 shares of the company’s stock, valued at approximately $23,779,896.28. The disclosure for this sale can be found here. Insiders sold a total of 32,246 shares of company stock worth $3,430,906 in the last quarter. 33.89% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on BANF. Piper Sandler increased their target price on shares of BancFirst from $84.50 to $95.00 and gave the company an “underweight” rating in a report on Monday, July 22nd. StockNews.com raised BancFirst from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th.

BancFirst Trading Down 0.7 %

NASDAQ BANF opened at $106.40 on Friday. The stock has a market cap of $3.51 billion, a P/E ratio of 17.39 and a beta of 1.04. BancFirst Co. has a fifty-two week low of $79.99 and a fifty-two week high of $110.79. The stock has a 50 day simple moving average of $98.17 and a two-hundred day simple moving average of $90.94. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.95 and a current ratio of 0.96.

BancFirst (NASDAQ:BANF) last announced its quarterly earnings results on Thursday, July 18th. The bank reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.09. The company had revenue of $153.84 million during the quarter, compared to analyst estimates of $149.75 million. BancFirst had a return on equity of 14.10% and a net margin of 29.64%. On average, analysts forecast that BancFirst Co. will post 6.07 earnings per share for the current year.

BancFirst Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a $0.46 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.84 annualized dividend and a dividend yield of 1.73%. This is a positive change from BancFirst’s previous quarterly dividend of $0.43. BancFirst’s dividend payout ratio is currently 28.10%.

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. The company operates through BancFirst Metropolitan Banks, BancFirst Community Banks, Pegasus, Worthington, and Other Financial Services segments.