BFC Capital Trust II PFD TR 7.20% (NASDAQ:BANFP) Shares Up 0.5% – Still a Buy?

Shares of BFC Capital Trust II PFD TR 7.20% (NASDAQ:BANFP) shot up 0.5% during trading on Friday . The stock traded as high as $26.25 and last traded at $26.3750. 321 shares traded hands during trading, a decline of 55% from the average session volume of 714 shares. The stock had previously closed at $26.25.

BFC Capital Trust II PFD TR 7.20% Stock Performance

The company’s fifty day moving average is $26.35 and its 200 day moving average is $26.25.

BFC Capital Trust II PFD TR 7.20% Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 6.9%. The ex-dividend date of this dividend is Tuesday, June 30th.

Institutional Investors Weigh In On BFC Capital Trust II PFD TR 7.20%

A hedge fund recently bought a new stake in BFC Capital Trust II PFD TR 7.20% stock. Thurston Springer Miller Herd & Titak Inc. purchased a new position in BFC Capital Trust II PFD TR 7.20% (NASDAQ:BANFP) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,586 shares of the company’s stock, valued at approximately $42,000.

BFC Capital Trust II is a Delaware statutory trust formed by BFC Financial Corporation to issue and manage its 7.20% cumulative redeemable trust preferred securities. The trust’s sole assets consist of junior subordinated debentures issued by BFC Financial Corporation, which were acquired using the net proceeds from the preferred securities offering. The securities trade on the Nasdaq under the ticker symbol BANFP.

The trust’s primary activity is the administration of these fixed-rate trust preferred securities.