BancFirst (NASDAQ:BANF) Price Target Increased to $110.00 by Analysts at DA Davidson

BancFirst (NASDAQ:BANF) had its price objective lifted by DA Davidson from $104.00 to $110.00 in a research report sent to investors on Monday morning, Benzinga reports. DA Davidson currently has a neutral rating on the bank’s stock. DA Davidson also issued estimates for BancFirst’s Q4 2024 earnings at $1.59 EPS and FY2024 earnings at $6.35 EPS.

Several other research analysts also recently weighed in on the stock. Piper Sandler lifted their price target on shares of BancFirst from $84.50 to $95.00 and gave the stock an “underweight” rating in a research note on Monday, July 22nd. StockNews.com cut BancFirst from a “hold” rating to a “sell” rating in a report on Wednesday, September 4th.

BancFirst Price Performance

Shares of NASDAQ:BANF opened at $110.10 on Monday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $3.63 billion, a PE ratio of 17.99 and a beta of 1.03. The firm’s 50 day moving average price is $105.54 and its 200-day moving average price is $95.97. BancFirst has a twelve month low of $79.99 and a twelve month high of $115.62.

BancFirst Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a dividend of $0.46 per share. This is a boost from BancFirst’s previous quarterly dividend of $0.43. The ex-dividend date was Monday, September 30th. This represents a $1.84 dividend on an annualized basis and a yield of 1.67%. BancFirst’s dividend payout ratio (DPR) is presently 30.07%.

Insiders Place Their Bets

In other news, Director David E. Rainbolt sold 5,601 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $110.21, for a total transaction of $617,286.21. Following the sale, the director now directly owns 208,723 shares in the company, valued at $23,003,361.83. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other BancFirst news, major shareholder Main Street Banking Partners L sold 22,114 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $105.46, for a total value of $2,332,142.44. Following the completion of the transaction, the insider now directly owns 4,958,095 shares in the company, valued at $522,880,698.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David E. Rainbolt sold 5,601 shares of BancFirst stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $110.21, for a total transaction of $617,286.21. Following the sale, the director now owns 208,723 shares in the company, valued at approximately $23,003,361.83. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,095 shares of company stock worth $7,021,614 over the last three months. 33.89% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On BancFirst

A number of hedge funds and other institutional investors have recently modified their holdings of BANF. Blue Trust Inc. lifted its stake in BancFirst by 33.9% in the 3rd quarter. Blue Trust Inc. now owns 391 shares of the bank’s stock worth $41,000 after purchasing an additional 99 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in BancFirst by 1.4% during the second quarter. Louisiana State Employees Retirement System now owns 7,300 shares of the bank’s stock valued at $640,000 after buying an additional 100 shares during the last quarter. Arizona State Retirement System boosted its stake in BancFirst by 1.9% during the second quarter. Arizona State Retirement System now owns 5,993 shares of the bank’s stock valued at $526,000 after buying an additional 112 shares during the last quarter. Diversified Trust Co grew its holdings in BancFirst by 2.6% during the 2nd quarter. Diversified Trust Co now owns 4,972 shares of the bank’s stock valued at $436,000 after buying an additional 128 shares in the last quarter. Finally, Inspire Investing LLC increased its stake in BancFirst by 3.9% in the 1st quarter. Inspire Investing LLC now owns 4,070 shares of the bank’s stock worth $358,000 after acquiring an additional 152 shares during the last quarter. Institutional investors own 51.72% 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. The company operates through BancFirst Metropolitan Banks, BancFirst Community Banks, Pegasus, Worthington, and Other Financial Services segments.