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

BancFirst Co. (NASDAQ:BANF) experienced a notable reduction in short interest throughout November. As of November 15th, total short interest registered at 495,100 shares, reflecting a 12.2% decrease from the 563,800 shares noted on October 31st. Approximately 2.4% of the company's total shares are currently sold short. Given the average trading volume of 120,100 shares, the days-to-cover ratio stands at 4.1 days.

Insider Selling Activity

In related developments, Director William Scott Martin sold 24,607 shares of BancFirst stock on November 21st, at an average price of $124.70. This transaction amounted to approximately $3,068,492.90. Post-sale, Martin holds 224,499 shares valued at about $27,995,025.30, marking a 9.88% reduction in his total shareholding. The transaction details can be found in a legal filing with the Securities and Exchange Commission (SEC). Additionally, Director David E. Rainbolt sold 1,414 shares on September 3rd, at an average price of $105.58, yielding $149,290.12. After this sale, he owns 223,402 shares valued at $23,586,783.16, indicating a 0.63% decrease in his ownership. In total, insiders sold 160,468 shares of the company over the last 90 days, representing 33.89% of the stock owned by insiders.

Institutional Investors Activity

Numerous institutional investors and hedge funds have adjusted their positions in BancFirst recently. Notably, Whittier Trust Co. of Nevada Inc. acquired a new stake in BancFirst worth around $38,000 during the third quarter. Blue Trust Inc. increased its stake by 33.9%, now holding 391 shares valued at $41,000 after adding 99 shares in the latest quarter. Benjamin F. Edwards & Company Inc. saw a 64.8% increase in its holdings in the second quarter, now owning 834 shares valued at $73,000 following an additional purchase of 328 shares. Point72 DIFC Ltd and nVerses Capital LLC also established new positions in BancFirst during the second and third quarters, valued at $77,000 and $105,000 respectively. Overall, institutional investors control 51.72% of the company's stock.

BancFirst Stock Performance

Shares of BancFirst (NASDAQ:BANF) opened at $126.28. The stock's 50-day moving average is $113.38, while the 200-day moving average sits at $101.78. The current ratio is 0.98, the quick ratio is 0.98, and the debt-to-equity ratio is 0.05. BancFirst's stock has experienced a twelve-month low of $81.21 and a high of $132.29, with a market capitalization of $4.18 billion and a price-to-earnings (P/E) ratio of 20.30. The stock has a beta of 1.02.

On October 17th, BancFirst released its quarterly earnings data, reporting earnings per share (EPS) of $1.75, exceeding analysts' expectations of $1.57 by $0.18. The company's revenue for the quarter was $163.67 million, outperforming the consensus estimate of $156.70 million. BancFirst also achieved a return on equity of 13.92% and a net margin of 23.52%. Analysts predict that BancFirst will realize an EPS of 6.37 for the current year.

Dividend Announcement

BancFirst also announced a quarterly dividend scheduled for January 15th, which will be paid to shareholders recorded on December 31st. Investors will receive a dividend of $0.46 per share, leading to an annualized dividend of $1.84, representing a yield of 1.46%. The company's current dividend payout ratio is 29.58%.

Analyst Insights

Several analysts have recently provided their views on BancFirst. DA Davidson raised its price target from $104.00 to $110.00 and issued a "neutral" rating on October 21st. Meanwhile, StockNews.com upgraded BancFirst from a "sell" rating to a "hold" rating on November 7th.

Company Overview

BancFirst Corporation serves as the bank holding company for BancFirst, delivering a variety of commercial banking services to retail and small to medium-sized businesses through various segments such as BancFirst Metropolitan Banks, BancFirst Community Banks, Pegasus, Worthington, and other financial services.

BancFirst, Shares, Short