On September 19, 2023, several research analysts issued reports on BancFirst (BANF), a leading financial institution. One such report came from StockNews.com which initiated coverage on the company on August 17th and assigned a “sell” rating. Another report by Piper Sandler on July 24th raised the price objective for BancFirst from $73.00 to $82.00 but maintained an “underweight” rating.
In recent months, there has been notable activity in the buying and selling of BancFirst shares by hedge funds and institutional investors. For example, Bessemer Group Inc. increased its stake in the bank’s stock by a remarkable 1,221.1% during the first quarter, now owning 502 shares valued at $42,000 after purchasing an additional 464 shares. M&R Capital Management Inc. also entered the picture during the second quarter with a new stake worth $53,000.
Royal Bank of Canada followed suit and grew its stake in BancFirst by 19.4% during the third quarter to own 745 shares valued at $66,000 after acquiring an additional 121 shares. Steward Partners Investment Advisory LLC increased its stake in the bank by an impressive 45.6% during the fourth quarter to now own 987 shares valued at $87,000 after adding another 309 shares.
Lastly, Covestor Ltd lifted its holdings in BancFirst by a significant margin of 43.0% during the second quarter and now owns 1,097 shares valued at $101,000 after acquiring an additional 330 shares.
It is worth noting that approximately 44.97% of BancFirst stock is owned by these hedge funds and institutional investors.
As of Tuesday’s opening bell on September 19th, BancFirst stock opened at $87.48 per share.The company boasts a debt-to-equity ratio of just 0.06, a current ratio of 0.94, and a quick ratio of 0.94. Over the past year, the stock has seen a low point of $68.44 and a high point of $104.00.
BancFirst currently holds a market capitalization of $2.88 billion, with a price-to-earnings (P/E) ratio of 13.04 and a beta of 1.07, suggesting that it may be slightly more volatile than the overall market.
Notably, the business also maintains a 50-day moving average price of $96.31 and a 200-day moving average price of $88.96.
Overall, while BancFirst has garnered attention from analysts and institutional investors, it remains to be seen how these developments will impact the bank’s performance in the coming months and how it will navigate within an ever-changing financial landscape during these challenging times.
Updated on: 19/09/2023
Debt to equity ratio: Buy
Price to earnings ratio: Strong Sell
Price to book ratio: Strong Buy
DCF: Strong Buy
1:00 PM (UTC)
Date:19 September, 2023
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BancFirst Co. Generates Promising Results Despite Analysts’ Revised Estimates
In a report released on September 18th, research analysts at DA Davidson have revised their Q3 2023 earnings per share (EPS) estimates for BancFirst Co. (NASDAQ:BANF). Analyst G. Tenner now predicts that the bank will post EPS of $1.57 for the quarter, down from their previous estimate of $1.59.
DA Davidson currently maintains a “Neutral” rating and has set a target price of $91.00 on BancFirst stock. The consensus estimate for the bank’s full-year earnings stands at $6.27 per share.
Various hedge funds and institutional investors have recently bought and sold shares of BancFirst. Bessemer Group Inc., for instance, significantly increased its stake in the company by an astounding 1,221.1% during the first quarter of this year, now holding 502 shares valued at $42,000 after purchasing an additional 464 shares.
Moreover, M&R Capital Management Inc. acquired a new stake in BancFirst during the second quarter worth approximately $53,000. Royal Bank of Canada also demonstrated confidence in the bank’s potential by increasing its stake by 19.4% during the third quarter to equal 745 shares valued at around $66,000.
Steward Partners Investment Advisory LLC followed suit and grew its stake in BancFirst by 45.6% during the fourth quarter, now owning 987 shares worth about $87,000 after acquiring an additional 309 shares.
Covestor Ltd further bolstered investor confidence by lifting its holdings in BancFirst by an impressive 43% during the second quarter to reach ownership of 1,097 shares worth approximately $101,000.
It is also important to note that on July 20th this year, BancFirst’s quarterly earnings data reflected promising results that surpassed market expectations. The bank reported EPS of $1.64 for that specific period compared to the consensus estimate of $1.61, an impressive beat of $0.03.
BancFirst also recently announced a quarterly dividend that will be paid on October 16th. Shareholders of record on September 29th will receive a dividend payment of $0.43, which is an increase from the bank’s previous quarterly dividend of $0.40. This amounts to an annualized dividend of $1.72 and a yield of 1.97%. The ex-dividend date is set for Thursday, September 28th.
In conclusion, while DA Davidson may have revised its Q3 earnings estimates for BancFirst slightly downward, the bank has demonstrated positive overall performance in recent quarters and continues to attract interest from both hedge funds and institutional investors alike. With promising quarterly results and increased shareholder dividends, BancFirst remains an appealing option for investors seeking stable returns in the banking sector.
Note: The information presented in this article is based on publicly available data as of September 19, 2023, and does not constitute financial advice or a recommendation to buy or sell securities. Investors should conduct their own research before making investment decisions.