HighTower Advisors LLC Acquires 165 Shares of BancFirst Corporation $BANF

HighTower Advisors LLC grew its holdings in shares of BancFirst Corporation (NASDAQ:BANF) by 5.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,086 shares of the bank’s stock after acquiring an additional 165 shares during the period. HighTower Advisors LLC’s holdings in BancFirst were worth $339,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of BANF. GAMMA Investing LLC grew its position in shares of BancFirst by 211.2% during the 1st quarter. GAMMA Investing LLC now owns 582 shares of the bank’s stock valued at $64,000 after acquiring an additional 395 shares during the period. Cubist Systematic Strategies LLC bought a new position in BancFirst in the 4th quarter worth $135,000. Meeder Asset Management Inc. bought a new position in BancFirst in the 1st quarter worth $181,000. Baird Financial Group Inc. bought a new position in BancFirst in the 4th quarter worth $203,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in BancFirst in the 4th quarter worth $210,000. Institutional investors own 51.72% of the company’s stock.

BancFirst Stock Down 1.0%

Shares of BANF stock opened at $132.97 on Tuesday. The stock has a market cap of $4.43 billion, a P/E ratio of 19.13 and a beta of 0.79. BancFirst Corporation has a 52 week low of $97.02 and a 52 week high of $137.40. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.05. The company’s fifty day simple moving average is $127.52 and its two-hundred day simple moving average is $120.37.

BancFirst (NASDAQ:BANF) last announced its earnings results on Thursday, July 17th. The bank reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.67 by $0.18. The firm had revenue of $169.30 million for the quarter, compared to analysts’ expectations of $163.62 million. BancFirst had a net margin of 24.94% and a return on equity of 14.16%. Analysts predict that BancFirst Corporation will post 6.52 EPS for the current fiscal year.

BancFirst Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.49 per share. The ex-dividend date is Tuesday, September 30th. This represents a $1.96 annualized dividend and a dividend yield of 1.5%. This is a positive change from BancFirst’s previous quarterly dividend of $0.46. BancFirst’s dividend payout ratio is currently 26.47%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. DA Davidson upped their target price on shares of BancFirst from $120.00 to $136.00 and gave the stock a “neutral” rating in a report on Monday, July 21st. Wall Street Zen upgraded shares of BancFirst from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of BancFirst from $123.00 to $132.00 and gave the stock a “market perform” rating in a research note on Friday, July 18th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, BancFirst presently has a consensus rating of “Hold” and a consensus price target of $134.00.

Insider Activity

In other news, Director F Ford Drummond sold 5,000 shares of the company’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $126.29, for a total transaction of $631,450.00. Following the sale, the director directly owned 6,000 shares in the company, valued at approximately $757,740. This represents a 45.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate 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.