BancFirst Co. (NASDAQ:BANF) Sees 12.2% Drop in Short Interest in November

BancFirst Co. (NASDAQ:BANF - Get Free Report) experienced a notable reduction in short interest throughout the month of November. As of November 15th, short interest amounted to 495,100 shares, reflecting a decrease of 12.2% from the October 31st figure of 563,800 shares. This means that approximately 2.4% of the company's total shares are currently sold short. With an average trading volume of 120,100 shares, the days-to-cover ratio stands at 4.1 days.

Insider Trading Activity

In related news, Director William Scott Martin sold 24,607 shares of the company's stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $124.70, totaling $3,068,492.90. Post-transaction, the director holds 224,499 shares of the company's stock, which are valued at around $27,995,025.30. This sale marks a 9.88% reduction in his stake. The transaction was disclosed in a legal filing with the Securities and Exchange Commission, which can be accessed on the SEC website. Furthermore, Director David E. Rainbolt sold 1,414 shares on Tuesday, September 3rd, at an average price of $105.58, earning $149,290.12 from the sale. After this transaction, Rainbolt owns 223,402 shares worth approximately $23,586,783.16, representing a 0.63% decrease in ownership. In total, insiders have sold 160,468 shares valued at $18,656,436 over the past 90 days, while insiders collectively own 33.89% of the stock.

Institutional Activities

Several institutional investors and hedge funds have been active in buying and selling shares of BancFirst. For instance, Whittier Trust Co. of Nevada Inc. acquired a new stake in BancFirst in the third quarter valued at about $38,000. Blue Trust Inc. increased its position in BancFirst by 33.9% during the same period, bringing their total to 391 shares valued at $41,000 after adding 99 shares. Benjamin F. Edwards & Company Inc. raised its stake by 64.8% in the second quarter, now holding 834 shares valued at $73,000 after acquiring 328 additional shares. Point72 DIFC Ltd also took a new position worth $77,000 in BancFirst during the second quarter, while nVerses Capital LLC made a new investment valued at $105,000 in the third quarter. Overall, institutional investors control 51.72% of the company’s shares.

BancFirst Stock Performance

As of Friday, shares of NASDAQ BANF opened at $126.28. The stock has a 50-day moving average of $113.38 and a two-hundred-day moving average of $101.78. Key financial ratios include a current ratio and quick ratio of 0.98, along with a low debt-to-equity ratio of 0.05. Over the past twelve months, BancFirst's stock has seen a low of $81.21 and a high of $132.29, with the company boasting a market capitalization of $4.18 billion, a price-to-earnings ratio of 20.30, and a beta of 1.02.

BancFirst last published its quarterly earnings data on Thursday, October 17th, reporting earnings of $1.75 per share, exceeding the consensus estimate of $1.57 by $0.18. The company generated revenue of $163.67 million for that quarter, surpassing the estimate of $156.70 million. BancFirst achieved a return on equity of 13.92% and a net margin of 23.52%. Analysts predict an average of 6.37 earnings per share for the current fiscal year.

Dividend Announcement

The company recently announced a quarterly dividend, scheduled for payment on Wednesday, January 15th. Shareholders on record by Tuesday, December 31st, will receive a dividend of $0.46 per share, with an ex-dividend date also on December 31st. This dividend signifies an annualized total of $1.84, translating to a yield of 1.46%. BancFirst's current dividend payout ratio sits at 29.58%.

Analyst Insights

Recent reports from several research analysts have been issued regarding BancFirst's stock. For example, DA Davidson raised its target price from $104.00 to $110.00, assigning a "neutral" rating in a report dated Monday, October 21st. Additionally, StockNews.com upgraded BancFirst from a "sell" to a "hold" rating in a report published on Thursday, November 7th.

BancFirst Company Overview

BancFirst Corporation operates as the bank holding company for BancFirst, providing various commercial banking services to retail customers as well as small to medium-sized businesses. The company manages its operations through BancFirst Metropolitan Banks, BancFirst Community Banks, Pegasus, Worthington, and other financial service segments.

BancFirst, Short, Investment