Zacks Investment Research Downgrades BancFirst (NASDAQ:BANF) to Hold

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Zacks Investment Research cut shares of BancFirst (NASDAQ:BANF) from a buy rating to a hold rating in a research note issued to investors on Monday, Zacks.com reports.

According to Zacks, “BancFirst Corporation is a bank holding company for BancFirst. BancFirst Corporation also owns 100% of the common securities of BFC Capital Trust I, and First State Bank. BancFirst’s strategy focuses on providing a full range of commercial banking services to retail customers and small to medium-sized businesses both in the non-metropolitan trade centers and the metropolitan markets. BancFirst operates as a super community bank, managing their community banking offices on a decentralized basis, which permits them to be responsive to local customer needs. “

A number of other equities research analysts also recently weighed in on BANF. Sandler O’Neill began coverage on BancFirst in a report on Wednesday, August 14th. They issued a hold rating for the company. BidaskClub downgraded BancFirst from a hold rating to a sell rating in a report on Monday, June 24th.

Shares of NASDAQ BANF opened at $54.51 on Monday. BancFirst has a twelve month low of $48.07 and a twelve month high of $65.20. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of 13.68, a price-to-earnings-growth ratio of 1.93 and a beta of 0.83. The business has a 50 day simple moving average of $56.04 and a 200-day simple moving average of $55.47.

BancFirst (NASDAQ:BANF) last issued its quarterly earnings results on Thursday, July 18th. The bank reported $1.02 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.09. BancFirst had a return on equity of 14.34% and a net margin of 29.12%. The business had revenue of $102.87 million during the quarter, compared to the consensus estimate of $99.79 million. As a group, equities analysts predict that BancFirst will post 3.99 earnings per share for the current year.

In other news, Director Ronald J. Norick purchased 2,000 shares of the stock in a transaction dated Thursday, August 15th. The stock was acquired at an average cost of $53.00 per share, for a total transaction of $106,000.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 38.27% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. bought a new position in BancFirst during the 1st quarter worth $34,000. Quantamental Technologies LLC bought a new position in BancFirst during the 2nd quarter worth $47,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in BancFirst by 77.7% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,043 shares of the bank’s stock worth $54,000 after buying an additional 456 shares during the last quarter. Parallel Advisors LLC bought a new position in BancFirst during the 2nd quarter worth $78,000. Finally, Bank of Montreal Can bought a new position in BancFirst during the 2nd quarter worth $87,000. Institutional investors and hedge funds own 33.65% of the company’s stock.

BancFirst Company Profile

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. It operates through Metropolitan Banks, Community Banks, and Other Financial Services segments. The company offers checking accounts, negotiable order of withdrawal accounts, savings accounts, money market accounts, sweep accounts, club accounts, individual retirement accounts, and certificates of deposit, as well as overdraft protection and auto draft services.

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