NewEdge Wealth LLC Reduces Holdings in BancFirst Co. (NASDAQ:BANF)

NewEdge Wealth LLC lessened its position in shares of BancFirst Co. (NASDAQ:BANF) by 16.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,543 shares of the bank’s stock after selling 3,327 shares during the period. NewEdge Wealth LLC’s holdings in BancFirst were worth $1,939,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in BANF. Citigroup Inc. raised its stake in shares of BancFirst by 39.1% during the 3rd quarter. Citigroup Inc. now owns 37,107 shares of the bank’s stock valued at $3,906,000 after purchasing an additional 10,425 shares during the period. Sanctuary Advisors LLC raised its stake in shares of BancFirst by 3.5% during the 3rd quarter. Sanctuary Advisors LLC now owns 3,214 shares of the bank’s stock valued at $338,000 after purchasing an additional 110 shares during the period. Principal Financial Group Inc. raised its stake in shares of BancFirst by 40.2% during the 3rd quarter. Principal Financial Group Inc. now owns 101,276 shares of the bank’s stock valued at $10,659,000 after purchasing an additional 29,050 shares during the period. JPMorgan Chase & Co. raised its stake in shares of BancFirst by 33.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 129,204 shares of the bank’s stock valued at $13,599,000 after purchasing an additional 32,636 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of BancFirst by 13.7% during the 3rd quarter. Geode Capital Management LLC now owns 482,785 shares of the bank’s stock valued at $50,823,000 after purchasing an additional 58,016 shares during the period. Hedge funds and other institutional investors own 51.72% of the company’s stock.

BancFirst Price Performance

Shares of NASDAQ BANF opened at $119.36 on Friday. The firm has a market capitalization of $3.95 billion, a P/E ratio of 18.53 and a beta of 1.05. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.05. The stock’s 50-day simple moving average is $118.50 and its two-hundred day simple moving average is $114.71. BancFirst Co. has a twelve month low of $81.21 and a twelve month high of $132.29.

BancFirst (NASDAQ:BANF) last announced its earnings results on Thursday, January 23rd. The bank reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.07. BancFirst had a return on equity of 14.21% and a net margin of 23.52%. As a group, equities analysts anticipate that BancFirst Co. will post 6.52 EPS for the current fiscal year.

Analysts Set New Price Targets

BANF has been the topic of a number of analyst reports. Keefe, Bruyette & Woods boosted their price objective on BancFirst from $117.00 to $135.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. StockNews.com lowered BancFirst from a “hold” rating to a “sell” rating in a research note on Friday, January 24th.

Insiders Place Their Bets

In other news, EVP Dennis L. Brand sold 4,000 shares of the stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $126.50, for a total transaction of $506,000.00. Following the transaction, the executive vice president now directly owns 33,000 shares in the company, valued at approximately $4,174,500. This represents a 10.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director F Ford Drummond sold 5,000 shares of the stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $117.97, for a total value of $589,850.00. Following the transaction, the director now owns 6,000 shares in the company, valued at $707,820. This trade represents a 45.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,000 shares of company stock worth $3,500,350 in the last ninety days. 33.89% of the stock is currently owned by insiders.

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.