BancFirst (NASDAQ:BANF) Hits New 52-Week High – Here’s Why

Shares of BancFirst Co. (NASDAQ:BANF) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $130.04 and last traded at $130.04, with a volume of 3300 shares changing hands. The stock had previously closed at $126.28.

Analysts Set New Price Targets

A number of equities analysts have recently commented on BANF shares. StockNews.com raised BancFirst from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. DA Davidson increased their price objective on shares of BancFirst from $104.00 to $110.00 and gave the company a “neutral” rating in a research report on Monday, October 21st.

BancFirst Trading Up 2.4 %

The business’s fifty day simple moving average is $111.42 and its two-hundred day simple moving average is $100.65. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.05. The company has a market cap of $4.28 billion, a price-to-earnings ratio of 20.30 and a beta of 1.02.

BancFirst (NASDAQ:BANF) last posted its earnings results on Thursday, October 17th. The bank reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.18. The business had revenue of $163.67 million for the quarter, compared to analysts’ expectations of $156.70 million. BancFirst had a return on equity of 13.92% and a net margin of 23.52%. On average, equities analysts predict that BancFirst Co. will post 6.37 EPS for the current year.

Insider Buying and Selling at BancFirst

In other BancFirst news, EVP Randy Foraker sold 2,870 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $107.10, for a total transaction of $307,377.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Main Street Banking Partners L sold 778 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $110.00, for a total value of $85,580.00. Following the sale, the insider now directly owns 4,941,772 shares of the company’s stock, valued at $543,594,920. The trade was a 0.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 181,714 shares of company stock worth $20,915,712. 33.89% of the stock is owned by insiders.

Institutional Investors Weigh In On BancFirst

Several hedge funds have recently modified their holdings of the stock. Arvest Bank Trust Division acquired a new stake in shares of BancFirst in the 3rd quarter worth $1,219,000. World Investment Advisors LLC acquired a new stake in BancFirst in the third quarter valued at about $1,766,000. Sanctuary Advisors LLC lifted its position in BancFirst by 3.5% in the third quarter. Sanctuary Advisors LLC now owns 3,214 shares of the bank’s stock valued at $338,000 after purchasing an additional 110 shares during the period. Geode Capital Management LLC boosted its holdings in BancFirst by 13.7% in the 3rd quarter. Geode Capital Management LLC now owns 482,785 shares of the bank’s stock valued at $50,823,000 after purchasing an additional 58,016 shares in the last quarter. Finally, Barclays PLC increased its position in BancFirst by 94.6% during the 3rd quarter. Barclays PLC now owns 56,136 shares of the bank’s stock worth $5,908,000 after purchasing an additional 27,295 shares during the period. 51.72% of the stock is owned by institutional investors and hedge funds.

About BancFirst

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.