BancFirst (NASDAQ:BANF) Corporation's (NASDAQ:BANF) Executive Vice President, Kevin Lawrence, has recently sold shares of the company, according to the latest filings with the Securities and Exchange Commission. The transactions occurred on April 25, 2024, and involved both the acquisition and disposal of common stock.
Lawrence executed a sale of 10,000 shares of BancFirst at an average price of $90.0028, totaling over $900,000. This sale reduced his direct holdings to 10,000 shares following the transaction. On the same day, Lawrence also acquired 10,000 shares at a price of $32.3 per share, amounting to a total of $323,000. After this purchase, his direct holdings in the company increased to 20,000 shares.
The executive's trading activity also included derivative securities, specifically options to buy, which were not part of the sale but are notable for understanding his total investment position in BancFirst. These transactions reflect changes in Lawrence's investment holdings and may be of interest to current and potential investors as they assess the company's stock performance and insider confidence.
BancFirst Corporation, headquartered in Oklahoma City, is known for its national commercial banking services. As with all insider transactions, these sales and purchases are publicly reported to provide transparency and maintain fair trading practices in the financial markets.
InvestingPro Insights
BancFirst Corporation (NASDAQ:BANF) has been a stable performer in the financial sector, and recent activity from executive leadership could be a signal to investors about the company's prospects. Kevin Lawrence's recent transactions coincide with some noteworthy data and trends for BancFirst, as highlighted by InvestingPro.
InvestingPro data shows that BancFirst has a market capitalization of $2.96 billion and a Price/Earnings (P/E) Ratio of 14.43, which aligns closely with the adjusted P/E Ratio for the last twelve months as of Q1 2024 at 14.46. This suggests a consistent valuation of the company over the recent period. Additionally, the company has exhibited a modest revenue growth of 1.53% for the last twelve months as of Q1 2024, although the quarterly revenue growth for Q1 2024 shows a decrease of 4.96%.
One of the InvestingPro Tips that stands out is BancFirst's significant return over the last week, with a 1-week price total return of 11.66%. This could be indicative of positive market sentiment and might be a factor in Lawrence's decision to adjust his holdings. Moreover, analysts have revised their earnings upwards for the upcoming period, suggesting that the company may be on track for continued financial success.
For investors looking for more in-depth analysis and additional InvestingPro Tips for BancFirst, there are 8 more tips available, which can be accessed through the InvestingPro platform. These tips could provide valuable insights into the company's long-term performance, dividend reliability, and profitability. Use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, which could be a smart investment for those closely following BancFirst's financial journey.
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