Bank First (NASDAQ:BFC) Stock Price Falls 0.5% – Future Outlook

Bank First Co. (NASDAQ:BFC) saw its share price decrease by 0.5% during mid-day trading on Tuesday. The stock hit a low of $98.98 and last traded at $99.08. In total, around 1,473 shares were exchanged, which is a significant decline of 93% compared to the average daily volume of 20,278 shares. Prior to this, the stock had closed at $99.62.

Insights from Wall Street Analysts

In recent news, Piper Sandler raised its price target on Bank First shares from $99.00 to $104.00, maintaining a “neutral” rating in their research report issued on Thursday, October 17.

Bank First's Trading Performance

The company currently has a 50-day moving average of $101.62 and a 200-day moving average of $92.22. Bank First's market capitalization stands at $1.00 billion, with a price-to-earnings ratio of 12.33 and a beta of 0.34. The company reports a current ratio of 1.00, a quick ratio of 1.00, and a minimal debt-to-equity ratio of 0.02.

Recent Earnings Report

Bank First announced its quarterly earnings results on Tuesday, October 15. The company posted earnings per share (EPS) of $1.65, exceeding the consensus estimate of $1.54 by $0.11. Revenue for the quarter reached $58.93 million, greatly surpassing analyst forecasts of $39.60 million. The firm also exhibited a net margin of 32.02% and a return on equity of 10.10%. Analysts project that Bank First Co. will achieve an EPS of 6.35 for the current fiscal year.

Dividend Increase Announced

The company has recently declared a quarterly dividend payment, which is set to be paid on Monday, January 6. Shareholders who were on record as of Monday, December 23, will receive a dividend of $0.45, marking an annualized dividend of $1.80 and a yield of 1.79%. This represents an increase from Bank First’s previous quarterly dividend of $0.40. The current dividend payout ratio sits at 22.11%.

Changes in Institutional Investments

Various institutional investors and hedge funds have recently adjusted their positions in Bank First. Quest Partners LLC considerably increased its holdings by 65,700.0% during the second quarter, now owning 658 shares valued at $54,000 after acquiring an additional 657 shares. The Arizona State Retirement System raised its stake by 5.5%, owning 2,554 shares worth $211,000 after purchasing an additional 133 shares during this period. PDT Partners LLC initiated a new position in Bank First in the third quarter, valued at roughly $306,000. Additionally, SG Americas Securities LLC boosted its holdings by 91.7% in the third quarter, now owning 3,696 shares worth $335,000. Harbour Investments Inc. also increased its position by 6.3%, totaling 4,250 shares valued at $351,000. Currently, institutional investors and hedge funds hold 29.95% of Bank First's stock.

About Bank First

Bank First Corporation functions as a holding company for Bank First, N.A., providing a variety of financial services to businesses, professionals, consumers, associations, individuals, and governmental authorities in Wisconsin. Their services include checking, savings, money market accounts, cash management, retirement accounts, health savings accounts, other time deposits, certificates of deposit, as well as residential mortgage products.

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