In a recent transaction, Leslie Jeannine Rainbolt, a director and significant shareholder of BancFirst Corp (NASDAQ:BANF), sold 1,414 shares of the company's common stock. The sale was executed at an average price of $105.58 per share, resulting in a total value of approximately $149,297.
The transaction took place on September 3, 2024, as reported in a filing with the Securities and Exchange Commission. Following this sale, Rainbolt continues to hold a substantial number of shares in BancFirst Corp, specifically 4,980,209.5 shares through Main Street Banking Partners LP, as indicated by a footnote in the filing. Additionally, Rainbolt holds 4,000 shares in a separate account under the Leslie J. Rainbolt Revocable Trust.
This sale represents a notable transaction by a key member of BancFirst Corp's leadership and ownership. Investors often monitor such insider activities to gain insights into the perspectives of those most familiar with the company. While the reasons behind individual transactions may vary and are not disclosed, they can range from personal financial management to strategic portfolio adjustments.
BancFirst Corp, headquartered in Oklahoma City, operates as a commercial bank and is recognized under the National Commercial Banks industry category. The company's stock is publicly traded on the NASDAQ exchange under the ticker symbol BANF.
In other recent news, BancFirst Corporation announced a series of significant developments. The company declared 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 payments are expected to be made on October 15 to shareholders of record as of September 30.
In governance news, BancFirst appointed Kim Ingram to its Board of Directors. Ingram, a CEO of Kelly Jewelers and a Western Oklahoma native, is expected to bring her community and professional experience to the role, enhancing the board's expertise.
Furthermore, Piper Sandler, a financial analysis firm, has adjusted its earnings per share estimates for BancFirst for 2024 and 2025 upwards, following BancFirst's robust profitability in the second quarter. However, the firm maintained its Underweight rating on the bank, citing a lack of clarity on the bank's plans for deploying excess capital, particularly in mergers and acquisitions. These are some of the recent developments surrounding BancFirst Corporation.
InvestingPro Insights
Amidst the news of Leslie Jeannine Rainbolt's recent stock sale, investors in BancFirst Corp (NASDAQ:BANF) may find additional context through key metrics and expert analysis. According to InvestingPro data, BancFirst Corp has a market capitalization of $3.45 billion and a Price/Earnings (P/E) ratio of 17.17, reflecting the market's valuation of the company relative to its earnings. The company's revenue stood at $594.14 million over the last twelve months as of Q2 2024, although it experienced a slight decline in revenue growth of -2.5% during the same period.
InvestingPro Tips suggest that BancFirst Corp has a strong record of rewarding shareholders, having raised its dividend for 26 consecutive years and maintaining dividend payments for 32 consecutive years. This consistent performance is complemented by strong returns, with a 24.32% total price return over the last three months. Additionally, the company has been profitable over the last twelve months and analysts are optimistic about its profitability for the current year, with four analysts having revised their earnings estimates upwards for the upcoming period.
Investors considering BancFirst Corp's stock can access a wealth of additional InvestingPro Tips that delve deeper into the company's financial health and market performance. Currently, there are over 8 additional tips available on InvestingPro that provide further insights into BancFirst Corp's prospects and investment potential.
For those seeking a more comprehensive analysis, the InvestingPro platform offers a robust suite of tools and expert advice, including an in-depth look at BancFirst Corp's financials and market position. To explore these resources and gain a competitive edge in your investment strategy, visit https://www.investing.com/pro/BANF.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.