Today: The Wedge Capital Management L L P NC cuts its investment of stake in BancFirst Corp. (BANF)

The Wedge Capital Management L L P NC cuts its investment of stake in BancFirst Corp. (BANF)

Wedge Capital Management L L P NC lowered its stake in shares of BancFirst Corp. (NASDAQ:BANF) by 0.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,233 shares of the company’s stock after selling 475 shares during the period. Wedge Capital Management L L P NC’s holdings in BancFirst Corp. were worth $4,055,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. raised its position in BancFirst Corp. by 2.9% in the first quarter. JPMorgan Chase & Co. now owns 204,588 shares of the company’s stock worth $11,667,000 after buying an additional 5,773 shares during the last quarter. Bank of Montreal Can purchased a new position in BancFirst Corp. during the second quarter worth $814,000. Jacobs Levy Equity Management Inc. raised its position in BancFirst Corp. by 34.3% in the first quarter. Jacobs Levy Equity Management Inc. now owns 10,016 shares of the company’s stock worth $571,000 after buying an additional 2,560 shares during the last quarter. Zebra Capital Management LLC purchased a new position in BancFirst Corp. during the first quarter worth $543,000. Finally, Acadian Asset Management LLC purchased a new position in BancFirst Corp. during the second quarter worth $518,000. Institutional investors own 29.89% of the company’s stock.

BancFirst Corp. (NASDAQ:BANF) traded up 0.07% during trading on Monday, hitting $71.25. 14,839 shares of the stock traded hands. BancFirst Corp. has a 52-week low of $51.14 and a 52-week high of $75.14. The stock has a market cap of $1.11 billion, a P/E ratio of 17.29 and a beta of 0.78. The stock has a 50 day moving average price of $70.45 and a 200-day moving average price of $64.01.

BancFirst Corp. (NASDAQ:BANF) last announced its quarterly earnings data on Thursday, July 21st. The company reported $1.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.06. BancFirst Corp. had a net margin of 20.79% and a return on equity of 9.91%. On average, analysts anticipate that BancFirst Corp. will post $4.41 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 14th. Investors of record on Friday, September 30th were given a $0.38 dividend. This is a positive change from BancFirst Corp.’s previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend was Wednesday, September 28th. BancFirst Corp.’s dividend payout ratio (DPR) is presently 36.89%.

A number of equities analysts have weighed in on BANF shares. Keefe, Bruyette & Woods upped their price target on shares of BancFirst Corp. from $59.00 to $64.00 and gave the stock a “market perform” rating in a research report on Monday, July 25th. Zacks Investment Research upgraded shares of BancFirst Corp. from a “hold” rating to a “buy” rating and set a $69.00 price target for the company in a research report on Wednesday, June 22nd.

In other BancFirst Corp. news, insider Jennifer C. Weast sold 625 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $66.40, for a total transaction of $41,500.00. Following the completion of the transaction, the insider now directly owns 625 shares of the company’s stock, valued at approximately $41,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Darryl Schmidt sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $66.10, for a total transaction of $330,500.00. Following the transaction, the insider now directly owns 5,000 shares of the company’s stock, valued at $330,500. The disclosure for this sale can be found here. 44.97% of the stock is currently owned by corporate insiders.

About BancFirst Corp.

BancFirst Corporation is a financial holding company. The Company conducts its operating activities through its principal subsidiary, BancFirst (the Bank), a state-chartered bank. It has four business units, which include metropolitan banks, community banks, other financial services, and executive, operations and support.

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