Teacher Retirement System of Texas reduced its stake in shares of BancFirst Corporation (NASDAQ:BANF – Free Report) by 59.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,678 shares of the bank’s stock after selling 12,811 shares during the quarter. Teacher Retirement System of Texas’ holdings in BancFirst were worth $953,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BANF. Vanguard Group Inc. lifted its position in BancFirst by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 2,306,204 shares of the bank’s stock worth $270,241,000 after acquiring an additional 44,563 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of BancFirst by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 484,883 shares of the bank’s stock worth $56,832,000 after acquiring an additional 2,098 shares during the last quarter. Norges Bank bought a new position in BancFirst during the fourth quarter worth $26,649,000. JPMorgan Chase & Co. boosted its holdings in BancFirst by 35.8% in the 4th quarter. JPMorgan Chase & Co. now owns 175,457 shares of the bank’s stock valued at $20,560,000 after purchasing an additional 46,253 shares during the period. Finally, Invesco Ltd. grew its position in BancFirst by 65.7% in the 4th quarter. Invesco Ltd. now owns 109,342 shares of the bank’s stock worth $12,813,000 after purchasing an additional 43,336 shares during the last quarter. 51.72% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
BANF has been the subject of several analyst reports. Keefe, Bruyette & Woods raised shares of BancFirst to a “hold” rating in a report on Monday, May 26th. Wall Street Zen upgraded BancFirst from a “sell” rating to a “hold” rating in a research note on Monday, May 12th.
BancFirst Trading Up 1.6%
BANF opened at $130.98 on Tuesday. The company’s 50 day moving average price is $124.68 and its two-hundred day moving average price is $118.11. The firm has a market capitalization of $4.35 billion, a price-to-earnings ratio of 19.82 and a beta of 0.77. BancFirst Corporation has a fifty-two week low of $92.42 and a fifty-two week high of $132.29. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.00 and a quick ratio of 1.00.
BancFirst (NASDAQ:BANF – Get Free Report) last released its earnings results on Thursday, April 17th. The bank reported $1.67 EPS for the quarter, topping the consensus estimate of $1.58 by $0.09. The business had revenue of $164.84 million during the quarter, compared to analysts’ expectations of $161.72 million. BancFirst had a return on equity of 13.90% and a net margin of 24.05%. As a group, research analysts predict that BancFirst Corporation will post 6.52 earnings per share for the current year.
BancFirst Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend is Monday, June 30th. BancFirst’s payout ratio is 27.84%.
Insider Activity
In other news, Director F Ford Drummond sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $124.12, for a total value of $620,600.00. Following the completion of the transaction, the director directly owned 6,000 shares in the company, valued at approximately $744,720. This trade represents a 45.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Randy Foraker sold 4,000 shares of the company’s stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $126.61, for a total transaction of $506,440.00. The disclosure for this sale can be found here. Company insiders own 32.43% of the company’s stock.
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.
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