Geode Capital Management LLC Boosts Stock Position in BancFirst Co. (NASDAQ:BANF)

Geode Capital Management LLC raised its stake in BancFirst Co. (NASDAQ:BANF) by 13.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 482,785 shares of the bank’s stock after purchasing an additional 58,016 shares during the quarter. Geode Capital Management LLC owned 1.46% of BancFirst worth $50,823,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of BANF. Whittier Trust Co. of Nevada Inc. purchased a new position in BancFirst in the 3rd quarter valued at $38,000. Blue Trust Inc. lifted its stake in shares of BancFirst by 33.9% in the 3rd quarter. Blue Trust Inc. now owns 391 shares of the bank’s stock worth $41,000 after acquiring an additional 99 shares during the period. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of BancFirst by 64.8% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 834 shares of the bank’s stock valued at $73,000 after acquiring an additional 328 shares in the last quarter. Point72 DIFC Ltd acquired a new position in shares of BancFirst during the second quarter worth about $77,000. Finally, nVerses Capital LLC purchased a new position in BancFirst during the third quarter worth about $105,000. Institutional investors and hedge funds own 51.72% of the company’s stock.

Insider Buying and Selling at BancFirst

In other news, EVP Dennis Jay Hannah sold 10,543 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $126.58, for a total transaction of $1,334,532.94. Following the completion of the transaction, the executive vice president now directly owns 1,564 shares of the company’s stock, valued at $197,971.12. This trade represents a 87.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Leslie Jeannine Rainbolt sold 2,152 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $110.47, for a total value of $237,731.44. Following the completion of the sale, the director now directly owns 4,942,550 shares in the company, valued at approximately $546,003,498.50. The trade was a 0.04 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 129,150 shares of company stock worth $15,442,825. 33.89% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

BANF has been the topic of several recent analyst reports. Keefe, Bruyette & Woods boosted their target price on BancFirst from $117.00 to $135.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. DA Davidson upped their price objective on BancFirst from $104.00 to $110.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. Finally, StockNews.com raised BancFirst from a “sell” rating to a “hold” rating in a report on Thursday, November 7th.

BancFirst Price Performance

BANF stock opened at $118.84 on Monday. The company has a market cap of $3.94 billion, a price-to-earnings ratio of 19.11 and a beta of 1.05. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.05. The firm has a 50 day moving average of $119.79 and a 200-day moving average of $105.76. BancFirst Co. has a 12-month low of $81.21 and a 12-month high of $132.29.

BancFirst (NASDAQ:BANF) last issued its quarterly earnings data on Thursday, October 17th. The bank reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.18. The firm had revenue of $163.67 million during the quarter, compared to analysts’ expectations of $156.70 million. BancFirst had a return on equity of 13.92% and a net margin of 23.52%. As a group, equities analysts expect that BancFirst Co. will post 6.37 EPS for the current fiscal year.

BancFirst Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.46 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.84 dividend on an annualized basis and a yield of 1.55%. BancFirst’s payout ratio is 29.58%.

BancFirst 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.