Quadrant Capital Group LLC Trims Holdings in BancFirst Co. (NASDAQ:BANF)

Posted by Defense World Staff on Jun 4th, 2023

Quadrant Capital Group LLC decreased its stake in shares of BancFirst Co. (NASDAQ:BANF – Get Rating) by 15.5% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,248 shares of the bank’s stock after selling 229 shares during the period. Quadrant Capital Group LLC’s holdings in BancFirst were worth $110,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Virtu Financial LLC bought a new position in shares of BancFirst in the third quarter valued at approximately $299,000. Cubist Systematic Strategies LLC grew its position in shares of BancFirst by 2,229.6% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 91,881 shares of the bank’s stock valued at $8,221,000 after purchasing an additional 87,937 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of BancFirst by 199.7% in the fourth quarter. First Trust Advisors LP now owns 55,696 shares of the bank’s stock worth $4,911,000 after purchasing an additional 37,115 shares during the period. Pinkerton Retirement Specialists LLC purchased a new stake in shares of BancFirst in the third quarter worth $687,000. Finally, New York State Common Retirement Fund boosted its stake in BancFirst by 8.1% during the third quarter. New York State Common Retirement Fund now owns 14,700 shares of the bank’s stock valued at $1,315,000 after buying an additional 1,096 shares during the period. Institutional investors own 45.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BANF. StockNews.com initiated coverage on BancFirst in a research note on Thursday, May 18th. They issued a “sell” rating on the stock. Piper Sandler lowered their target price on shares of BancFirst from $84.00 to $73.00 in a research note on Wednesday, April 26th.

Insider Transactions at BancFirst

In other BancFirst news, Director H E. Rainbolt bought 700 shares of BancFirst stock in a transaction that occurred on Wednesday, April 26th. The shares were bought at an average price of $74.08 per share, with a total value of $51,856.00. Following the acquisition, the director now owns 706 shares in the company, valued at $52,300.48. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Dennis L. Brand acquired 5,000 shares of the company’s stock in a transaction dated Wednesday, April 26th. The stock was purchased at an average price of $73.75 per share, with a total value of $368,750.00. Following the completion of the purchase, the executive vice president now owns 37,000 shares in the company, valued at approximately $2,728,750. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director H E. Rainbolt bought 700 shares of the firm’s stock in a transaction that occurred on Wednesday, April 26th. The stock was purchased at an average cost of $74.08 per share, for a total transaction of $51,856.00. Following the completion of the purchase, the director now owns 706 shares of the company’s stock, valued at $52,300.48. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 6,700 shares of company stock worth $492,106. 35.70% of the stock is currently owned by insiders.

BancFirst Stock Up 5.6 %

BANF opened at $91.53 on Friday. The business’s fifty day simple moving average is $81.09 and its 200 day simple moving average is $86.46. BancFirst Co. has a 52 week low of $68.44 and a 52 week high of $118.07. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.07. The stock has a market cap of $3.01 billion, a PE ratio of 14.28 and a beta of 1.06.

BancFirst (NASDAQ:BANF – Get Rating) last announced its quarterly earnings data on Tuesday, April 25th. The bank reported $1.72 EPS for the quarter, beating the consensus estimate of $1.68 by $0.04. BancFirst had a return on equity of 17.38% and a net margin of 31.83%. As a group, research analysts expect that BancFirst Co. will post 6.27 earnings per share for the current fiscal year.

BancFirst Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 17th. Shareholders of record on Friday, June 30th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend is Thursday, June 29th. BancFirst’s dividend payout ratio (DPR) is presently 24.96%.

BancFirst Company Profile

(Get Rating)

BancFirst Corp. is a bank holding company, which provides retail and commercial banking services. Its services include commercial, real estate, agricultural and consumer lending, depository and funds transfer services, collections, safe deposit boxes, cash management services, retail brokerage services, and other services tailored for both individual and corporate customers.