BancFirst (NASDAQ:BANF) Upgraded by Zacks Research to “Strong-Buy” Rating

BancFirst (NASDAQ:BANF) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other research analysts have also recently weighed in on BANF. Wall Street Zen upgraded shares of BancFirst from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings lowered shares of BancFirst from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, July 16th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $125.00 price target on shares of BancFirst in a report on Friday, June 12th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, BancFirst presently has a consensus rating of “Moderate Buy” and a consensus price target of $124.00.

BancFirst Trading Down 0.2%

NASDAQ BANF opened at $115.72 on Monday. The business’s fifty day moving average is $113.17 and its 200-day moving average is $112.23. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market capitalization of $3.89 billion, a price-to-earnings ratio of 15.62 and a beta of 0.59. BancFirst has a one year low of $101.48 and a one year high of $138.77.

BancFirst (NASDAQ:BANF) last posted its quarterly earnings results on Friday, July 24th. The bank reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.16. The company had revenue of $187.49 million during the quarter, compared to analyst estimates of $178.53 million. BancFirst had a net margin of 31.96% and a return on equity of 13.64%. Equities research analysts predict that BancFirst will post 7.55 EPS for the current year.

Insiders Place Their Bets

In related news, Director David E. Rainbolt sold 29,740 shares of the business’s stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $116.49, for a total value of $3,464,412.60. Following the sale, the director directly owned 137,043 shares in the company, valued at approximately $15,964,139.07. The trade was a 17.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders sold 44,960 shares of company stock valued at $5,216,138. Company insiders own 31.67% of the company’s stock.

Hedge Funds Weigh In On BancFirst

Several large investors have recently modified their holdings of the business. Quarry LP raised its position in shares of BancFirst by 531.4% in the third quarter. Quarry LP now owns 221 shares of the bank’s stock valued at $28,000 after purchasing an additional 186 shares during the period. Allworth Financial LP lifted its stake in shares of BancFirst by 47.5% during the 3rd quarter. Allworth Financial LP now owns 295 shares of the bank’s stock valued at $37,000 after buying an additional 95 shares in the last quarter. Eagle Bay Advisors LLC bought a new position in BancFirst in the 4th quarter worth approximately $40,000. Kestra Advisory Services LLC bought a new position in BancFirst in the 4th quarter worth approximately $41,000. Finally, EverSource Wealth Advisors LLC grew its stake in BancFirst by 957.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 402 shares of the bank’s stock valued at $50,000 after buying an additional 364 shares in the last quarter. Hedge funds and other institutional investors own 51.72% of the company’s stock.

About BancFirst

BancFirst Corporation is a regional banking holding company based in Oklahoma City, Oklahoma. As the largest state‐chartered bank in Oklahoma, BancFirst offers a comprehensive suite of financial services to individuals, businesses and government entities. Its core business activities include commercial and consumer banking, mortgage lending, treasury management, equipment financing and electronic banking solutions.

The bank operates a network of more than 60 branches across Oklahoma, serving urban centers such as Oklahoma City and Tulsa, as well as rural communities throughout the state.