BancFirst (NASDAQ:BANF) Given New $120.00 Price Target at Keefe, Bruyette & Woods

BancFirst (NASDAQ:BANF) had its price target decreased by Keefe, Bruyette & Woods from $132.00 to $120.00 in a research note issued to investors on Monday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the bank’s stock.

Other equities analysts have also issued reports about the company. Zacks Research lowered BancFirst from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 16th. Weiss Ratings restated a “buy (b-)” rating on shares of BancFirst in a research note on Wednesday, October 8th. DA Davidson lifted their target price on BancFirst from $120.00 to $136.00 and gave the stock a “neutral” rating in a research note on Monday, July 21st. Finally, Wall Street Zen raised shares of BancFirst from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $128.00.

BancFirst Price Performance

Shares of NASDAQ:BANF opened at $114.83 on Monday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.05. The stock has a market cap of $3.82 billion, a PE ratio of 16.29 and a beta of 0.76. The stock’s fifty day simple moving average is $128.38 and its two-hundred day simple moving average is $124.16. BancFirst has a 1-year low of $97.02 and a 1-year high of $138.77.

BancFirst (NASDAQ:BANF) last announced its earnings results on Friday, October 17th. The bank reported $1.85 EPS for the quarter, missing the consensus estimate of $1.87 by ($0.02). BancFirst had a net margin of 24.94% and a return on equity of 14.19%. The firm had revenue of $175.48 million during the quarter, compared to analysts’ expectations of $174.60 million. As a group, analysts forecast that BancFirst will post 6.52 EPS for the current fiscal year.

BancFirst Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were given a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 1.7%. This is an increase from BancFirst’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Tuesday, September 30th. BancFirst’s payout ratio is presently 27.80%.

Insider Activity at BancFirst

In related news, Director F Ford Drummond sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $126.29, for a total value of $631,450.00. Following the completion of the transaction, the director directly owned 6,000 shares of the company’s stock, valued at approximately $757,740. This trade represents a 45.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 32.43% of the company’s stock.

Hedge Funds Weigh In On BancFirst

Several hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its holdings in BancFirst by 211.2% during the 1st quarter. GAMMA Investing LLC now owns 582 shares of the bank’s stock worth $64,000 after purchasing an additional 395 shares in the last quarter. Illinois Municipal Retirement Fund lifted its holdings in shares of BancFirst by 6.0% in the first quarter. Illinois Municipal Retirement Fund now owns 10,904 shares of the bank’s stock worth $1,198,000 after buying an additional 618 shares in the last quarter. Smith Group Asset Management LLC bought a new position in shares of BancFirst in the first quarter valued at approximately $220,000. Principal Financial Group Inc. grew its stake in BancFirst by 3.4% during the first quarter. Principal Financial Group Inc. now owns 108,842 shares of the bank’s stock valued at $11,958,000 after acquiring an additional 3,594 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in BancFirst by 1.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 29,206 shares of the bank’s stock worth $3,209,000 after acquiring an additional 349 shares during the period. 51.72% of the stock is currently owned by hedge funds and other institutional investors.

BancFirst Company 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.