BancFirst (NASDAQ:BANF) Downgraded to “Sell” at StockNews.com

BancFirst (NASDAQ:BANF) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a report released on Wednesday.

Separately, Piper Sandler lifted 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.

BancFirst Stock Performance

Shares of BANF opened at $102.41 on Wednesday. The firm has a 50-day moving average of $99.66 and a 200-day moving average of $91.38. BancFirst has a one year low of $79.99 and a one year high of $110.79. The company has a market cap of $3.38 billion, a PE ratio of 16.73 and a beta of 1.03. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.97 and a quick ratio of 0.97.

BancFirst (NASDAQ:BANF) last announced its earnings results on Thursday, July 18th. The bank reported $1.51 EPS for the quarter, topping the consensus estimate 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 net margin of 23.46% and a return on equity of 13.89%. As a group, equities analysts forecast that BancFirst will post 6.07 earnings per share for the current year.

Insider Buying and Selling at BancFirst

In other BancFirst news, Director David E. Rainbolt sold 18,376 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $106.22, for a total value of $1,951,898.72. Following the completion of the sale, the director now owns 223,874 shares of the company’s stock, valued at approximately $23,779,896.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director David E. Rainbolt sold 18,376 shares of the business’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 value of $1,951,898.72. Following the completion of the transaction, the director now directly owns 223,874 shares in the company, valued at approximately $23,779,896.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director David E. Rainbolt sold 1,414 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $105.58, for a total transaction of $149,290.12. Following the completion of the transaction, the director now owns 223,402 shares of the company’s stock, valued at $23,586,783.16. The disclosure for this sale can be found here. Insiders sold 33,660 shares of company stock valued at $3,580,196 in the last quarter. Company insiders own 33.89% of the company’s stock.

Hedge Funds Weigh In On BancFirst

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Louisiana State Employees Retirement System raised its position in shares of BancFirst by 1.4% in the 2nd quarter. Louisiana State Employees Retirement System now owns 7,300 shares of the bank’s stock valued at $640,000 after buying an additional 100 shares in the last quarter. Arizona State Retirement System increased its position in BancFirst by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 5,993 shares of the bank’s stock worth $526,000 after purchasing an additional 112 shares in the last quarter. Diversified Trust Co increased its position in BancFirst by 2.6% during the 2nd quarter. Diversified Trust Co now owns 4,972 shares of the bank’s stock worth $436,000 after purchasing an additional 128 shares in the last quarter. Inspire Investing LLC increased its position in BancFirst by 3.9% during the 1st quarter. Inspire Investing LLC now owns 4,070 shares of the bank’s stock worth $358,000 after purchasing an additional 152 shares in the last quarter. Finally, Texas Permanent School Fund Corp increased its position in BancFirst by 1.3% during 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 in the last quarter. 51.72% of the stock is currently owned by institutional investors and hedge funds.

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.