Thu Sep 12 00:35:21 UTC 2024: ## BancFirst Director Sells Shares, Company Announces Dividend and Board Appointment
**Oklahoma City, OK -** Leslie Jeannine Rainbolt, a director and 10% owner of BancFirst Corporation (NASDAQ:BANF), sold 1,391 shares of the company’s stock on September 11, 2024, for a total of $146,062. Despite this sale, Rainbolt remains a major shareholder, holding 4,955,073 shares in the company.
The sale, executed directly by Rainbolt, is considered a personal financial transaction and was held in Main Street Banking Partners LP. Rainbolt also holds 4,000 shares in the Leslie J. Rainbolt Revocable Trust, demonstrating her continued confidence in the company’s future.
In other news, BancFirst Corporation announced a quarterly cash dividend of $0.46 per share on its common stock and a quarterly interest payment on its $26.8 million 7.20% Junior Subordinated Debentures. These payments are scheduled for October 15 to shareholders of record as of September 30.
The company also appointed Kim Ingram, CEO of Kelly Jewelers, as a new member of its Board of Directors. Ingram, a Western Oklahoma native, brings extensive community and professional experience to the role. Her compensation will align with the company’s fee schedule for outside directors, and she will receive restricted stock units under the BancFirst Corporation 2023 Restricted Stock Unit Plan.
Piper Sandler recently raised its stock target for BancFirst, while maintaining an Underweight rating. This adjustment follows the company’s strong profitability in the second quarter, leading Piper Sandler to revise its earnings per share estimates for 2024 and 2025 upwards. However, the firm remains concerned about the bank’s lack of clarity on its plans for deploying excess capital, particularly in mergers and acquisitions.
First Piper 