Leslie Jeannine Rainbolt, a director and ten percent owner at BancFirst Corp (NASDAQ:BANF), recently sold 778 shares of the company's common stock. The shares were sold at a price of $110 each, totaling $85,580. Following this transaction, Rainbolt holds 4,941,772 shares directly through Main Street Banking Partners LP. Additionally, she has 4,000 shares held in the Leslie J. Rainbolt Revocable Trust.
In other recent news, BancFirst Corporation announced a quarterly cash dividend of $0.46 per share on its common stock, along with a quarterly interest payment on $26.8 million of its 7.20% Junior Subordinated Debentures. These financial decisions emphasize the company's strategy for capital distribution. In addition, BancFirst has welcomed Kim Ingram as a new member of its Board of Directors. With her extensive community and professional experience, Ingram's appointment is expected to enhance the board's expertise.
In analyst-related news, Piper Sandler has raised BancFirst's stock target, while maintaining an Underweight rating. The adjustment follows BancFirst's strong profitability in the second quarter, leading Piper Sandler to increase its earnings per share estimates for 2024 and 2025. However, the firm cites a lack of clarity on BancFirst's plans for deploying excess capital as a potential limitation. 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 may catch investors' attention, it's crucial to consider the broader financial picture of the company. According to InvestingPro data, BancFirst Corp boasts a market capitalization of $3.64 billion and a P/E ratio of 17.3, suggesting a reasonably valued stock in the banking sector.
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 1.69% 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 figures indicate efficient management and strong profitability.
It's worth noting that BancFirst's stock has shown significant momentum, with a 33.07% total return over the past year and a 20.75% return over the last six months. This performance, coupled with the fact that the stock is trading at 95.14% of its 52-week high, suggests investor confidence in the company's prospects.
For those interested in a deeper dive into BancFirst's financials and future outlook, InvestingPro offers 8 additional tips and a comprehensive analysis, providing valuable insights for potential investors.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.