Oklahoma City, April 24, 2024 – BancFirst (NASDAQ:BANF) Corporation (NASDAQ:BANF) executive vice president, Dennis Jay Hannah, sold a total of 300 shares of the company's common stock on April 24, 2024, for an average price of $92.06 per share, according to a recent SEC filing. The total value of the shares sold amounted to over $27,617.
The transaction has adjusted Hannah's direct holdings in the company to 18,414 shares of common stock. Additional holdings include 1,564 shares and 9,830 shares held indirectly through an Employee Stock Ownership Plan (ESOP), demonstrating a continued investment in the company's future.
The sale was executed on a single day and represents a standard financial move by a corporate insider. The executive's remaining stake in BancFirst suggests a sustained alignment with the company's performance and shareholder interests.
BancFirst Corporation, headquartered in Oklahoma City, operates as a financial holding company for BancFirst, a state-chartered bank in Oklahoma. As of the date of the transaction, the company's stock remains an active part of the national commercial banks industry.
Investors often monitor insider transactions as part of their analysis, and such filings provide transparency into the financial decisions made by company executives. The recent sale by EVP Dennis Jay Hannah is public information that can be found in the company's SEC filings, which are available for investor review.
The shares sold represent a fraction of the company's available common stock, and BancFirst continues its operations with a strong executive team at the helm. The company has not provided any remarks or additional context regarding the transaction in the SEC filing.
InvestingPro Insights
BancFirst Corporation (NASDAQ:BANF) has shown a resilient performance as reflected in recent InvestingPro data. With a market capitalization of $3.02 billion and a P/E ratio that has remained steady at 14.83 over the last twelve months as of Q1 2024, the company exhibits stability in its valuation metrics. The revenue growth has been modest at 1.53% during the same period, signaling consistent business operations.
An InvestingPro Tip highlights that BancFirst has raised its dividend for 26 consecutive years, underscoring its commitment to returning value to shareholders. This is further supported by a recent strong return, with a 1-week price total return of 12.67% as of the date provided, showcasing short-term investor confidence in the stock.
For those interested in deeper analysis, there are 7 additional InvestingPro Tips available for BancFirst, which can offer further insights into the company's financial health and future prospects. Investors looking to leverage these tips and more comprehensive data can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.
Despite concerns over weak gross profit margins as pointed out by an InvestingPro Tip, the company has maintained a strong dividend growth rate of 7.5% over the last twelve months as of Q1 2024. This could be an attractive point for dividend-seeking investors. Additionally, analysts predict the company will remain profitable this year, which may provide a sense of security for potential and current investors.
For more detailed InvestingPro Tips and real-time metrics, interested parties can 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.