In a recent transaction, Dennis L. Brand, Executive Vice President of BancFirst Corp (NASDAQ:BANF), sold 4,000 shares of the company's common stock. The shares were sold at a price of $126.50 each, amounting to a total of $506,000. According to InvestingPro data, the stock has shown remarkable strength with a 52% gain over the past six months, though current analysis suggests the stock is slightly overvalued at these levels. Following this sale, Brand retains direct ownership of 33,000 shares. Additionally, he holds 6,333 shares indirectly through an Employee Stock Ownership Plan (ESOP). This transaction highlights ongoing activity among BancFirst's executive team as they manage their stock positions in the $4.2 billion market cap company. InvestingPro subscribers can access additional insights, including the fact that BancFirst has raised its dividend for 27 consecutive years and maintains a GOOD financial health score.
In other recent news, BancFirst Corporation has announced a series of financial decisions, including a cash dividend declaration and an interest payment on its junior subordinated debentures. The company's Board of Directors disclosed a quarterly cash dividend of $0.46 per share on its common stock, set for distribution in 2025. Additionally, BancFirst Corporation will make a quarterly interest payment on $26.8 million worth of its 7.20% Junior Subordinated Debentures, with proceeds being used to pay a dividend of $0.45 per share on the trust preferred securities.
BancFirst Corporation has also recently released its latest Sustainability Report, addressing various environmental, social, and governance aspects pertinent to the company's operations. The report provides insight into the company's initiatives and progress in areas such as energy efficiency, community engagement, and ethical governance. The release of the Sustainability Report aligns with the company's transparency initiatives and its commitment to providing stakeholders with detailed information about its ESG efforts.
Furthermore, BancFirst Corporation has announced the appointment of Kim Ingram, CEO of Kelly Jewelers, to its Board of Directors. Analyst firm Piper Sandler has revised its earnings per share estimates for BancFirst for 2024 and 2025 upwards, despite maintaining an Underweight rating on the stock. However, Piper Sandler has expressed uncertainty regarding BancFirst's plans for deploying excess capital, particularly in mergers and acquisitions. These are the recent developments surrounding BancFirst Corporation.
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