BancFirst (NASDAQ:BANF) Upgraded to Sell by BidaskClub

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BidaskClub upgraded shares of BancFirst (NASDAQ:BANF) from a strong sell rating to a sell rating in a research report sent to investors on Thursday, BidAskClub reports.

BANF has been the subject of a number of other reports. Zacks Investment Research upgraded BancFirst from a hold rating to a buy rating and set a $60.00 target price for the company in a report on Friday, September 6th. Sandler O’Neill assumed coverage on BancFirst in a report on Wednesday, August 14th. They set a hold rating for the company.

BancFirst stock traded up $1.20 during midday trading on Thursday, reaching $58.15. 2,984 shares of the stock traded hands, compared to its average volume of 42,086. The company has a 50-day simple moving average of $54.96 and a two-hundred day simple moving average of $55.22. BancFirst has a 12-month low of $48.07 and a 12-month high of $63.30. The firm has a market cap of $1.80 billion, a PE ratio of 15.22, a price-to-earnings-growth ratio of 1.98 and a beta of 0.85. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.03.

BancFirst (NASDAQ:BANF) last announced its earnings results on Thursday, July 18th. The bank reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.09. BancFirst had a return on equity of 14.34% and a net margin of 29.12%. The company had revenue of $102.87 million during the quarter, compared to analysts’ expectations of $99.79 million. Equities research analysts anticipate that BancFirst will post 3.99 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Friday, September 27th. This is a boost from BancFirst’s previous quarterly dividend of $0.30. BancFirst’s dividend payout ratio (DPR) is presently 31.41%.

In other news, EVP Darryl Schmidt sold 4,000 shares of BancFirst stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $55.05, for a total value of $220,200.00. Following the completion of the transaction, the executive vice president now owns 11,000 shares in the company, valued at approximately $605,550. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ronald J. Norick acquired 2,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was bought at an average price of $53.00 per share, with a total value of $106,000.00. The disclosure for this purchase can be found here. Company insiders own 38.27% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Quantamental Technologies LLC purchased a new position in shares of BancFirst in the 2nd quarter valued at about $47,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of BancFirst by 77.7% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,043 shares of the bank’s stock valued at $54,000 after buying an additional 456 shares during the period. Parallel Advisors LLC acquired a new stake in shares of BancFirst during the 2nd quarter worth about $78,000. Bank of Montreal Can acquired a new stake in shares of BancFirst during the 2nd quarter worth about $87,000. Finally, Amundi Pioneer Asset Management Inc. acquired a new stake in shares of BancFirst during the 1st quarter worth about $141,000. Institutional investors and hedge funds own 34.25% of the company’s stock.

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. It operates through Metropolitan Banks, Community Banks, and Other Financial Services segments. The company offers checking accounts, negotiable order of withdrawal accounts, savings accounts, money market accounts, sweep accounts, club accounts, individual retirement accounts, and certificates of deposit, as well as overdraft protection and auto draft services.

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