BancFirst (NASDAQ:BANF) Shares Gap Down After Insider Selling

BancFirst Co. (NASDAQ:BANF) shares gapped down prior to trading on Wednesday after an insider sold shares in the company. The stock had previously closed at $92.36, but opened at $90.00. BancFirst shares last traded at $91.80, with a volume of 11,354 shares.

Specifically, EVP Dennis Jay Hannah sold 300 shares of the business’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $92.06, for a total transaction of $27,618.00. Following the completion of the sale, the executive vice president now directly owns 18,414 shares of the company’s stock, valued at approximately $1,695,192.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Kevin Lawrence sold 1,529 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $88.00, for a total value of $134,552.00. Following the completion of the sale, the executive vice president now directly owns 10,000 shares of the company’s stock, valued at approximately $880,000. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Dennis Jay Hannah sold 300 shares of the company’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $92.06, for a total value of $27,618.00. Following the completion of the sale, the executive vice president now directly owns 18,414 shares of the company’s stock, valued at $1,695,192.84. The disclosure for this sale can be found here. In the last three months, insiders sold 19,300 shares of company stock valued at $1,706,128. 33.89% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Separately, DA Davidson lowered their price target on BancFirst from $95.00 to $92.00 and set a “neutral” rating for the company in a research note on Friday, January 19th.

BancFirst Stock Down 2.5 %

The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a market capitalization of $2.94 billion, a price-to-earnings ratio of 14.59 and a beta of 1.09. The firm’s fifty day simple moving average is $86.74 and its 200 day simple moving average is $88.21.

BancFirst Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.43 per share. The ex-dividend date was Wednesday, March 27th. This represents a $1.72 annualized dividend and a yield of 1.93%. BancFirst’s dividend payout ratio (DPR) is currently 28.10%.

Institutional Trading of BancFirst

Several hedge funds have recently bought and sold shares of BANF. Norges Bank acquired a new stake in BancFirst during the 4th quarter worth approximately $23,802,000. International Assets Investment Management LLC acquired a new stake in BancFirst during the 4th quarter worth approximately $8,818,000. BancFirst Trust & Investment Management raised its holdings in BancFirst by 4.2% during the 1st quarter. BancFirst Trust & Investment Management now owns 1,127,415 shares of the bank’s stock worth $99,246,000 after buying an additional 45,629 shares during the period. Fuller & Thaler Asset Management Inc. grew its stake in shares of BancFirst by 11.5% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 246,742 shares of the bank’s stock worth $21,400,000 after acquiring an additional 25,541 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of BancFirst by 32.4% during the 3rd quarter. Invesco Ltd. now owns 87,866 shares of the bank’s stock worth $7,621,000 after acquiring an additional 21,521 shares in the last quarter. 51.72% of the stock is currently 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.