On July 24, 2023, Darryl Schmidt, Executive Vice President of BancFirst Corp (BANF, Financial), purchased 113 shares of the company. This move is significant as insider buying can often be a positive indicator for the company's future performance.
Who is Darryl Schmidt?
Darryl Schmidt is the Executive Vice President of BancFirst Corp. Over the past year, he has shown a strong commitment to the company, purchasing a total of 1428 shares and selling none. His recent purchase further solidifies his belief in the company's potential.
About BancFirst Corp
BancFirst Corp is a financial holding company that conducts its operating activities through its principal subsidiary, BancFirst, a state-chartered bank. It provides a full range of commercial banking services to retail customers and small to medium-sized businesses. The company operates in a diverse range of industries, including manufacturing, retail, services, wholesale, and finance.
Insider Buying and Stock Price Relationship
Insider buying is often seen as a positive sign as it indicates that those with the most insight into the company's operations see value in owning its stock. Over the past year, BancFirst Corp has seen a total of 9 insider buys, including the recent purchase by Darryl Schmidt.
The above image shows the trend of insider buying and selling at BancFirst Corp. Despite the equal number of buys and sells, the recent purchase by Darryl Schmidt could be a positive sign for the company.
Valuation
BancFirst Corp's shares were trading at $100.67 each on the day of Darryl Schmidt's recent buy, giving the company a market cap of $3.292 billion.
The company's price-earnings ratio stands at 14.90, higher than the industry median of 8.48 but lower than the company's historical median price-earnings ratio. This suggests that the company is fairly valued compared to its peers but may be undervalued based on its own historical standards.
The GF Value, an intrinsic value estimate developed by GuruFocus, is calculated based on historical multiples, a GuruFocus adjustment factor, and future business performance estimates. With a price of $100.67 and a GuruFocus Value of $91.66, BancFirst Corp has a price-to-GF-Value ratio of 1.1, indicating that the stock is fairly valued.
In conclusion, the recent insider buying by Darryl Schmidt, coupled with the company's fair valuation, could make BancFirst Corp an interesting stock to watch in the coming months.
