Martin William Scott, a director at BancFirst Corp (NASDAQ:BANF), recently sold 7,500 shares of the company's common stock. The shares were sold at an average price of $123.1679 each, resulting in a total transaction value of approximately $923,759. Following this transaction, Scott holds 274,106 shares indirectly through The William Scott Martin Trust. This sale is part of the latest activity reported in the SEC Form 4 filing dated November 14, 2024.
In other recent news, BancFirst Corporation declared a quarterly cash dividend of $0.46 per share, scheduled for payment in October. The company also plans to make a quarterly interest payment on $26.8 million of its 7.20% Junior Subordinated Debentures, enabling BFC Capital Trust II to pay a dividend of $0.45 per share on the trust preferred securities. These decisions reflect BancFirst's ongoing commitment to return value to its shareholders.
In a recent development, BancFirst announced the appointment of Kim Ingram to its Board of Directors. Ingram, a CEO of Kelly Jewelers, brings valuable community and professional experience to the role. Her compensation aligns with the company's existing fee schedule for outside directors, and she will also receive restricted stock units under the BancFirst Corporation 2023 Restricted Stock Unit Plan.
In the realm of analyst notes, Piper Sandler maintained an Underweight rating for BancFirst but raised its stock target following the company's robust profitability in the second quarter. The firm revised its earnings per share estimates for 2024 and 2025 upwards. However, Piper Sandler cites a lack of clarity on BancFirst's plans for deploying excess capital, particularly in mergers and acquisitions, as a reason for limited potential for price-to-earnings ratio expansion above peers. These are the recent developments for BancFirst Corporation.
InvestingPro Insights
Following the recent stock sale by Director Martin William Scott, investors may be interested in additional insights about BancFirst Corp (NASDAQ:BANF). According to InvestingPro data, the company currently has a market capitalization of $4.06 billion and a P/E ratio of 19.3, suggesting a moderate valuation relative to earnings.
BancFirst Corp has demonstrated strong financial performance and shareholder value. An InvestingPro Tip highlights that the company has raised its dividend for 26 consecutive years, showcasing a commitment to returning value to shareholders. This is particularly noteworthy given the current dividend yield of 1.5% and a dividend growth rate of 6.98% over the last twelve months.
The stock's recent performance has been impressive, with InvestingPro data showing a 14.4% price total return over the past month and a substantial 36.43% return over the last six months. This aligns with another InvestingPro Tip indicating strong returns over various time frames, including the last month, three months, and five years.
For investors seeking more comprehensive analysis, InvestingPro offers 11 additional tips for BancFirst Corp, providing a deeper understanding of the company's financial health and market position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.