BancFirst Co. (NASDAQ:BANF) experienced a significant drop in short interest in April, reflecting a 16.8% decrease compared to the previous month. Short interest stood at 615,000 shares as of April 15th, down from 739,500 shares at the end of March. This decline resulted in a days-to-cover ratio of 5.3 days based on the average daily trading volume of 116,000 shares. Approximately 3.0% of the company’s shares are currently being shorted.
Insider trading activity at BancFirst also made headlines, with Director William Scott Martin selling 10,000 shares of stock in late February. The sale, valued at $1,191,300.00, represented a 4.45% decrease in the director’s ownership of the company. Another director, F Ford Drummond, sold 5,000 shares in early February, reducing their ownership by 45.45%. In total, insiders have sold 20,000 shares worth $2,404,500 in the last quarter, with corporate insiders now owning 32.43% of the stock.
Large institutional investors have shown interest in BancFirst, with notable transactions including New York State Common Retirement Fund increasing its holdings by 40.4% and Principal Financial Group Inc. raising its position by 3.4% in the first quarter. Overall, institutional investors and hedge funds hold 51.72% of the company’s stock.
Despite these activities, BancFirst’s stock saw a 1.0% increase, opening at $119.03 on a recent trading day. The company has a market capitalization of $3.96 billion, a price-to-earnings ratio of 18.48, and a beta of 0.82. With a 52-week range between $81.56 and $132.29, the stock has shown resilience amidst market fluctuations.
In its latest earnings report released on April 17th, BancFirst exceeded expectations with earnings per share of $1.67 for the quarter, surpassing the consensus estimate by $0.09. The company reported revenue of $164.84 million, outperforming analysts’ projections. With a net margin of 23.52% and a return on equity of 14.21%, BancFirst is poised for continued growth.
Furthermore, BancFirst recently declared a quarterly dividend, paying $0.46 per share to stockholders of record on March 31st. This dividend represents an annualized payout of $1.84 per share and a dividend yield of 1.55%. The dividend payout ratio currently stands at 27.84%, indicating the company’s commitment to rewarding shareholders.
Analysts have also shared their insights on BancFirst, with StockNews.com downgrading the stock from a “hold” to a “sell” rating in late April. Market analysts anticipate BancFirst to post earnings per share of 6.52 for the current fiscal year, reflecting positive sentiment towards the company’s financial performance.
BancFirst Corporation, the bank holding company behind BancFirst, provides a range of commercial banking services to retail customers and small to medium-sized businesses. Operating through various segments, including Metropolitan Banks, Community Banks, and Other Financial Services, BancFirst continues to be a key player in the banking sector.
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