The Manufacturers Life Insurance Company Purchases Shares of 10,972 BancFirst Corporation $BANF

The Manufacturers Life Insurance Company acquired a new stake in BancFirst Corporation (NASDAQ:BANF) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 10,972 shares of the bank’s stock, valued at approximately $1,219,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Quarry LP boosted its position in shares of BancFirst by 531.4% during the 3rd quarter. Quarry LP now owns 221 shares of the bank’s stock valued at $28,000 after acquiring an additional 186 shares in the last quarter. Allworth Financial LP acquired a new position in BancFirst in the second quarter worth about $33,000. Pinnacle Holdings LLC bought a new position in BancFirst during the second quarter worth about $40,000. Kestra Advisory Services LLC acquired a new stake in BancFirst during the fourth quarter valued at approximately $41,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of 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 purchasing an additional 364 shares during the period. 51.72% of the stock is owned by institutional investors.

BancFirst Stock Performance

NASDAQ:BANF opened at $112.89 on Friday. The stock has a market capitalization of $3.79 billion, a P/E ratio of 15.23 and a beta of 0.60. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.04. BancFirst Corporation has a 1 year low of $101.48 and a 1 year high of $138.77. The firm has a 50 day moving average of $113.72 and a 200-day moving average of $112.14.

BancFirst (NASDAQ:BANF) last released its quarterly earnings results on Thursday, July 23rd. The bank reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.80 by $0.16. BancFirst had a return on equity of 13.44% and a net margin of 25.61%.The business had revenue of $187.49 million for the quarter, compared to analyst estimates of $178.53 million. As a group, sell-side analysts anticipate that BancFirst Corporation will post 7.67 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BANF has been the subject of a number of recent research reports. Weiss Ratings cut BancFirst from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, July 16th. DA Davidson reiterated a “neutral” rating and issued a $125.00 price target on shares of BancFirst in a research report on Friday, June 12th. Keefe, Bruyette & Woods dropped their price objective on BancFirst from $123.00 to $121.00 and set a “market perform” rating for the company in a research note on Wednesday, August 5th. Zacks Research cut BancFirst from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 25th. Finally, Wall Street Zen upgraded shares of BancFirst from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $123.00.

Insider Activity at BancFirst

In other news, Director David Rainbolt sold 8,506 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $115.00, for a total transaction of $978,190.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold a total of 166,783 shares of company stock worth $19,366,509 in the last quarter. 31.67% of the stock is currently owned by corporate insiders.

BancFirst Company Profile

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.