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

BancFirst Co. (NASDAQ:BANF)’s stock price gapped down before the market opened on Wednesday following insider selling activity. 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 changing hands.

Specifically, EVP Dennis Jay Hannah sold 300 shares of the firm’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 transaction, the executive vice president now directly owns 18,414 shares in the company, valued at approximately $1,695,192.84. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Dennis Jay Hannah sold 300 shares of the firm’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 transaction, the executive vice president now directly owns 18,414 shares in the company, valued at approximately $1,695,192.84. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Kevin Lawrence sold 1,529 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $88.00, for a total transaction of $134,552.00. Following the completion of the transaction, the executive vice president now owns 10,000 shares in the company, valued at $880,000. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,300 shares of company stock worth $1,706,128. 33.89% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Separately, DA Davidson dropped their price objective on shares of BancFirst from $95.00 to $92.00 and set a “neutral” rating on the stock in a report on Friday, January 19th.

BancFirst Stock Performance

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’s fifty day moving average is $86.74 and its two-hundred day moving average is $88.21. The firm has a market cap of $2.94 billion, a price-to-earnings ratio of 14.59 and a beta of 1.09.

BancFirst Dividend Announcement

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

Institutional Trading of BancFirst

A number of large investors have recently modified their holdings of BANF. National Bank of Canada FI acquired a new position in BancFirst during the 3rd quarter valued at about $140,000. SG Americas Securities LLC acquired a new position in BancFirst during the 3rd quarter valued at about $907,000. Raymond James Financial Services Advisors Inc. acquired a new position in BancFirst during the 3rd quarter valued at about $560,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in BancFirst by 46.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,383 shares of the bank’s stock valued at $293,000 after buying an additional 1,073 shares during the period. Finally, Inspire Investing LLC increased its stake in BancFirst by 3.7% during the 3rd quarter. Inspire Investing LLC now owns 3,541 shares of the bank’s stock valued at $307,000 after buying an additional 126 shares during the period. Institutional investors and hedge funds own 51.72% of the company’s stock.

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.