Zacks: Brokerages Set $58.00 Target Price for BancFirst Co. (BANF)

Shares of BancFirst Co. (NASDAQ:BANF) have been given an average broker rating score of 3.00 (Hold) from the three analysts that cover the company, Zacks Investment Research reports. Three analysts have rated the stock with a hold recommendation.

Analysts have set a one year consensus price target of $58.00 for the company and are forecasting that the company will post $0.85 EPS for the current quarter, according to Zacks. Zacks has also assigned BancFirst an industry rank of 91 out of 255 based on the ratings given to related companies.

BANF has been the topic of several recent research reports. BidaskClub upgraded shares of BancFirst from a “hold” rating to a “buy” rating in a research report on Friday, April 6th. Zacks Investment Research upgraded shares of BancFirst from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a research report on Monday, April 23rd. ValuEngine upgraded shares of BancFirst from a “sell” rating to a “hold” rating in a research report on Wednesday, May 2nd. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $60.00 target price on shares of BancFirst in a research report on Friday, April 20th.

Shares of BancFirst traded up $0.20, hitting $61.65, during mid-day trading on Friday, according to Marketbeat.com. 271 shares of the company’s stock traded hands, compared to its average volume of 44,958. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of 22.54, a P/E/G ratio of 1.74 and a beta of 0.70. BancFirst has a 1 year low of $46.78 and a 1 year high of $63.55.

BancFirst (NASDAQ:BANF) last announced its earnings results on Thursday, April 19th. The bank reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.13. The firm had revenue of $93.15 million for the quarter, compared to analysts’ expectations of $90.57 million. BancFirst had a net margin of 24.74% and a return on equity of 12.56%. equities analysts predict that BancFirst will post 3.54 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 13th. Investors of record on Friday, June 29th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date is Thursday, June 28th. BancFirst’s dividend payout ratio (DPR) is currently 30.88%.

In related news, major shareholder Banking Ltd Ptnrshp R sold 37,470 shares of the stock in a transaction dated Friday, April 20th. The shares were sold at an average price of $56.34, for a total value of $2,111,059.80. Following the sale, the insider now directly owns 10,715,000 shares of the company’s stock, valued at approximately $603,683,100. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Anderson sold 5,000 shares of the stock in a transaction dated Tuesday, May 15th. The stock was sold at an average price of $58.31, for a total transaction of $291,550.00. Following the completion of the sale, the insider now directly owns 5,000 shares in the company, valued at $291,550. The disclosure for this sale can be found here. Insiders sold a total of 63,600 shares of company stock worth $3,615,520 over the last three months. 40.14% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the stock. WINTON GROUP Ltd purchased a new stake in BancFirst in the 1st quarter worth about $662,000. Xact Kapitalforvaltning AB purchased a new position in shares of BancFirst during the first quarter worth approximately $285,000. Legal & General Group Plc increased its position in shares of BancFirst by 14.7% during the first quarter. Legal & General Group Plc now owns 7,010 shares of the bank’s stock worth $372,000 after acquiring an additional 900 shares during the period. Millennium Management LLC purchased a new position in shares of BancFirst during the first quarter worth approximately $9,751,000. Finally, Guggenheim Capital LLC increased its position in shares of BancFirst by 4.5% during the first quarter. Guggenheim Capital LLC now owns 37,358 shares of the bank’s stock worth $1,983,000 after acquiring an additional 1,597 shares during the period. 32.60% of the stock is currently owned by 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. 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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