BancFirst Co. (NASDAQ:BANF – Get Rating) declared a quarterly dividend on Thursday, May 26th, Zacks reports. Shareholders of record on Thursday, June 30th will be given a dividend of 0.36 per share by the bank on Friday, July 15th. This represents a $1.44 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend is Wednesday, June 29th.
BancFirst has increased its dividend payment by an average of 11.1% per year over the last three years and has raised its dividend every year for the last 29 years. BancFirst has a dividend payout ratio of 29.1% meaning its dividend is sufficiently covered by earnings. Analysts expect BancFirst to earn $4.97 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 29.0%.
NASDAQ:BANF opened at $90.05 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.07. The firm has a 50-day moving average price of $83.53 and a two-hundred day moving average price of $76.68. BancFirst has a twelve month low of $53.77 and a twelve month high of $90.05. The company has a market capitalization of $2.95 billion, a P/E ratio of 18.61 and a beta of 1.18.
In related news, major shareholder Main Street Banking Partners L sold 7,071 shares of the business’s stock in a transaction that occurred on Tuesday, May 17th. The shares were sold at an average price of $82.51, for a total value of $583,428.21. Following the completion of the sale, the insider now directly owns 5,000,000 shares in the company, valued at $412,550,000. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Bf Bank Partners Lp sold 52,500 shares of the business’s stock in a transaction that occurred on Thursday, May 12th. The shares were sold at an average price of $84.06, for a total transaction of $4,413,150.00. Following the completion of the sale, the insider now owns 5,136,927 shares of the company’s stock, valued at $431,810,083.62. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 178,089 shares of company stock valued at $14,750,717. Insiders own 35.70% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in BANF. Captrust Financial Advisors lifted its position in BancFirst by 132.7% during the first quarter. Captrust Financial Advisors now owns 1,578 shares of the bank’s stock valued at $132,000 after buying an additional 900 shares in the last quarter. Royal Bank of Canada lifted its position in BancFirst by 39.2% during the second quarter. Royal Bank of Canada now owns 2,431 shares of the bank’s stock valued at $151,000 after buying an additional 685 shares in the last quarter. HighTower Advisors LLC acquired a new position in BancFirst during the first quarter valued at approximately $220,000. D.A. Davidson & CO. acquired a new position in BancFirst during the first quarter valued at approximately $289,000. Finally, Renaissance Technologies LLC acquired a new position in BancFirst during the first quarter valued at approximately $358,000. Hedge funds and other institutional investors own 46.45% of the company’s stock.
Several equities analysts have weighed in on the stock. Zacks Investment Research upgraded shares of BancFirst from a “hold” rating to a “strong-buy” rating and set a $96.00 target price for the company in a report on Friday, April 1st. StockNews.com downgraded shares of BancFirst from a “hold” rating to a “sell” rating in a report on Monday, May 23rd. Finally, Piper Sandler downgraded shares of BancFirst from a “neutral” rating to an “underweight” rating and lowered their price target for the stock from $87.00 to $79.00 in a report on Friday, May 6th.
About BancFirst (Get Rating)
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, Pegasus Bank, 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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