Leslie Jeannine Rainbolt, a director and ten percent owner at BancFirst Corp (NASDAQ:BANF), recently sold 2,152 shares of the company's common stock. The shares were sold at an average price of $110.47 each, resulting in a total transaction value of $237,724. Following this sale, Rainbolt holds a total of 4,942,550 shares directly and an additional 4,000 shares through the Leslie J. Rainbolt Revocable Trust. The shares involved in the transaction are part of her holdings in Main Street Banking Partners LP.
In other recent news, BancFirst Corporation has made significant announcements regarding its financial plans and governance. The corporation has declared a quarterly cash dividend of $0.46 per share on its common stock, scheduled for payment to shareholders of record as of September 30. Additionally, it will make a quarterly interest payment on $26.8 million of its 7.20% Junior Subordinated Debentures, enabling BFC Capital Trust II to pay a dividend of $0.45 per share on the trust preferred securities.
In governance news, BancFirst Corporation has appointed Kim Ingram as a new member of its Board of Directors. Ingram, a CEO of Kelly Jewelers, will bring a wealth of community and professional experience to the role. Her compensation aligns with the company's existing fee schedule for outside directors, and she will also receive restricted stock units under the BancFirst Corporation 2023 Restricted Stock Unit Plan.
In the analysis sector, despite maintaining an Underweight rating, Piper Sandler has raised BancFirst's stock target following the corporation's robust profitability in the second quarter. The firm has revised its earnings per share estimates for 2024 and 2025 upwards. However, it cites a lack of clarity on BancFirst's plans for deploying excess capital, particularly in mergers and acquisitions. These are some of the recent developments surrounding BancFirst Corporation.
InvestingPro Insights
While Leslie Jeannine Rainbolt's recent sale of BancFirst Corp (NASDAQ:BANF) shares might raise eyebrows, it's essential to consider the broader financial picture of the company. According to InvestingPro data, BancFirst Corp boasts a market capitalization of $3.61 billion and a P/E ratio of 17.33, suggesting a reasonable valuation relative to its earnings.
InvestingPro Tips highlight BancFirst's strong dividend history, having raised its dividend for 26 consecutive years and maintained payments for 32 years. This commitment to shareholder returns is further underscored by a current dividend yield of 1.61% and a dividend growth rate of 6.98% over the last twelve months.
The company's financial health appears robust, with a return on assets of 1.68% and an impressive operating income margin of 47.3% for the last twelve months as of Q3 2024. These metrics indicate efficient management and strong profitability.
Investors may also be encouraged by BancFirst's recent stock performance. The company has seen a significant price uptick over the last six months, with a total return of 28.87% during that period. This positive momentum is reflected in the stock's current price, which stands at 94.44% of its 52-week high.
For those seeking a more comprehensive analysis, InvestingPro offers 9 additional tips on BancFirst Corp, providing deeper insights into the company's financial health and market position.
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