Is BancFirst Corporation (BANF) a Good Stock to Buy?

Consequently, some big names were breaking ground themselves. Arrowstreet Capital established the most outsized position in BancFirst Corporation (NASDAQ:BANF) which had $1.6 million invested in the company at the end of the quarter. Ken Griffin’s Citadel Investment Group also initiated a $0.2 million position during the quarter.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as BancFirst Corporation (NASDAQ:BANF) but similarly valued. These stocks are First Bancorp (NYSE:FBP), Installed Building Products Inc (NYSE:IBP), Amerisafe, Inc. (NASDAQ:AMSF), and Green Dot Corporation (NYSE:GDOT). All of these stocks’ market caps are closest to BANF’s market cap.

As you can see these stocks had an average of 14 hedge funds with bullish positions and the average amount invested in these stocks was $124 million. That figure was $14 million in BANF’s case. First Bancorp (NYSE:FBP) is the most popular stock in this table. On the other hand Amerisafe, Inc. (NASDAQ:AMSF) is the least popular one with only 8 bullish hedge fund positions. Compared to these stocks BancFirst Corporation (NASDAQ:BANF) is even less popular than AMSF. Considering that hedge funds aren’t fond of this stock in relation to other companies analyzed in this article, it may be a good idea to analyze it in detail and understand why the smart money isn’t behind this stock. This isn’t necessarily bad news. Although it is possible that hedge funds may think the stock is overpriced and view the stock as a short candidate, they may not be very familiar with the bullish thesis. In either case more research is warranted.

Disclosure: None