BFC Capital Trust II PFD TR 7.20% (NASDAQ:BANFP) Shares Shorted: Short Interest Down 50.3% in September

BFC Capital Trust II PFD TR 7.20% (NASDAQ:BANFP) saw a significant drop in short interest in the month of September. As of September 30th, there was short interest totaling 1,748 shares, a drop of 50.3% from the September 15th total of 3,518 shares. Based on an average daily volume of 517 shares, the short-interest ratio is presently 3.4 days.

Institutional Trading of BFC Capital Trust II PFD TR 7.20%

An institutional investor recently bought a new position in BFC Capital Trust II PFD TR 7.20% stock. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of BFC Capital Trust II PFD TR 7.20% (NASDAQ:BANFP) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,586 shares of the company’s stock, valued at approximately $41,000.

BFC Capital Trust II PFD TR 7.20% Price Performance

Shares of BANFP traded down $0.29 on Friday, hitting $26.26. The company’s stock had a trading volume of 801 shares, compared to its average volume of 937. BFC Capital Trust II PFD TR 7.20% has a fifty-two week low of $25.55 and a fifty-two week high of $29.75. The firm’s fifty day moving average price is $27.42 and its 200-day moving average price is $26.79.

BFC Capital Trust II PFD TR 7.20% Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were issued a $0.45 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $1.80 annualized dividend and a yield of 6.9%.

BFC Capital Trust II is a statutory business trust associated with BFC Financial Corporation and is not an operating company. The trust was established to issue trust preferred securities, including its 7.20% trust preferred securities traded under the Nasdaq symbol BANFP.

The trust’s primary purpose is to hold qualifying subordinated debt issued by its corporate sponsor and use the related interest payments to fund distributions on its preferred securities. As a result, its activities are centered on financing and administration rather than the sale of products or services.

BFC Financial Corporation has historical ties to the BankAtlantic banking organization and has operated as a financial services and investment holding company.