The Manufacturers Life Insurance Company Sells 272 Shares of BancFirst Co. (NASDAQ:BANF)

The Manufacturers Life Insurance Company trimmed its position in BancFirst Co. (NASDAQ:BANFFree Report) by 2.3% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 11,341 shares of the bank’s stock after selling 272 shares during the period. The Manufacturers Life Insurance Company’s holdings in BancFirst were worth $995,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in BANF. Benjamin F. Edwards & Company Inc. increased its position in shares of BancFirst by 557.1% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 506 shares of the bank’s stock valued at $45,000 after buying an additional 429 shares in the last quarter. EntryPoint Capital LLC boosted its position in BancFirst by 56.8% during the first quarter. EntryPoint Capital LLC now owns 842 shares of the bank’s stock worth $74,000 after purchasing an additional 305 shares during the period. Point72 DIFC Ltd acquired a new position in BancFirst in the 2nd quarter valued at about $77,000. Transcendent Capital Group LLC bought a new position in BancFirst during the 1st quarter worth $105,000. Finally, SG Americas Securities LLC acquired a new stake in shares of BancFirst in the first quarter valued at approximately $137,000. 51.72% of the stock is owned by institutional investors and hedge funds.

BancFirst Stock Performance

NASDAQ:BANF opened at $106.59 on Monday. The business’s fifty day moving average is $103.52 and its 200 day moving average is $94.63. BancFirst Co. has a 52-week low of $79.99 and a 52-week high of $111.00. The firm has a market cap of $3.52 billion, a price-to-earnings ratio of 17.79 and a beta of 1.03. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.97 and a current ratio of 0.97.

BancFirst (NASDAQ:BANFGet Free Report) last issued its quarterly earnings data on Thursday, July 18th. The bank reported $1.51 EPS for the quarter, beating the consensus estimate of $1.42 by $0.09. BancFirst had a net margin of 23.46% and a return on equity of 13.89%. The company had revenue of $153.84 million during the quarter, compared to analysts’ expectations of $149.75 million. Research analysts predict that BancFirst Co. will post 6.09 EPS for the current year.

BancFirst Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a dividend of $0.46 per share. The ex-dividend date is Monday, September 30th. This is a positive change from BancFirst’s previous quarterly dividend of $0.43. This represents a $1.84 annualized dividend and a dividend yield of 1.73%. BancFirst’s dividend payout ratio is 30.72%.

Insider Activity at BancFirst

In other BancFirst news, Director William Scott Martin sold 5,000 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 326,904 shares of the company’s stock, valued at $35,142,180. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director William Scott Martin sold 5,000 shares of the business’s stock in a transaction dated 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 sale, the director now owns 326,904 shares of the company’s stock, valued at approximately $35,142,180. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Main Street Banking Partners L sold 22,114 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $105.46, for a total value of $2,332,142.44. Following the sale, the insider now owns 4,958,095 shares of the company’s stock, valued at $522,880,698.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,564 shares of company stock valued at $7,150,517. Corporate insiders own 33.89% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on BANF shares. Piper Sandler increased their price objective on shares of BancFirst from $84.50 to $95.00 and gave the company an “underweight” rating in a research note on Monday, July 22nd. StockNews.com cut BancFirst from a “hold” rating to a “sell” rating in a research note on Wednesday, September 4th.

Read Our Latest Research Report on BANF

BancFirst Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for BancFirst (NASDAQ:BANF)

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