Leslie Jeannine Rainbolt, a director and 10% owner of BancFirst Corp (NASDAQ:BANF), has recently sold a portion of her holdings in the company. According to a filing with the Securities and Exchange Commission, Rainbolt sold 5,601 shares of BancFirst common stock on October 23, 2024, at an average price of $110.2072 per share. The total value of the transaction amounted to $617,270.
Following this sale, Rainbolt holds 4,936,171 shares directly, with an additional 4,000 shares held in the Leslie J. Rainbolt Revocable Trust. The shares sold were held in Main Street Banking Partners LP, as noted in the filing's footnotes.
In other recent news, BancFirst Corporation has declared a quarterly cash dividend of $0.46 per share and plans to make a quarterly interest payment on $26.8 million of its 7.20% Junior Subordinated Debentures. These financial decisions are part of the company's ongoing commitment to its shareholders. Additionally, the company has announced the appointment of Kim Ingram to its Board of Directors. This strategic corporate governance development is expected to enhance the board's expertise. On the analyst front, Piper Sandler has revised its earnings per share estimates for BancFirst upwards for 2024 and 2025, despite maintaining an Underweight rating. These are some of the recent developments surrounding BancFirst Corporation. Please note, the information provided in this article is solely based on facts from past articles and does not offer a comprehensive view of the company.
InvestingPro Insights
BancFirst Corp (NASDAQ:BANF) has demonstrated strong financial performance and shareholder value, as evidenced by recent InvestingPro data. The company's market capitalization stands at $3.65 billion, with a price-to-earnings ratio of 17.31, indicating a reasonable valuation relative to its earnings.
One of the most notable InvestingPro Tips for BancFirst is its impressive dividend history. The company has raised its dividend for 26 consecutive years and has maintained dividend payments for 32 consecutive years. This consistent dividend growth aligns with Leslie Jeannine Rainbolt's significant ownership stake and recent share transaction, suggesting confidence in the company's financial stability and shareholder returns.
Additionally, BancFirst's financial health is underscored by its profitability over the last twelve months and analysts' predictions of continued profitability this year. The company's operating income margin of 47.3% for the last twelve months ending Q3 2024 reflects strong operational efficiency.
Investors should note that BancFirst's stock has shown robust performance, with a one-year price total return of 36.35% as of the most recent data. This performance, coupled with the company's dividend yield of 1.67%, may provide context for why insiders like Rainbolt might choose to realize some gains while maintaining a substantial position in the company.
For those seeking a deeper analysis, InvestingPro offers additional tips and metrics that could provide further insight into BancFirst's financial position and future prospects. There are 5 more InvestingPro Tips available for BANF, which could be valuable for investors looking to make informed decisions about this banking stock.
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