Bank of New York Mellon Corp Grows Stake in Bank First Co. (NASDAQ:BFC)

Bank of New York Mellon Corp increased its holdings in Bank First Co. (NASDAQ:BFC) by 10.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,912 shares of the company’s stock after purchasing an additional 4,157 shares during the period. Bank of New York Mellon Corp’s holdings in Bank First were worth $3,792,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BFC. Charles Schwab Investment Management Inc. lifted its stake in Bank First by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 68,545 shares of the company’s stock worth $5,940,000 after purchasing an additional 1,007 shares in the last quarter. Beacon Pointe Advisors LLC grew its holdings in Bank First by 7.8% during the 4th quarter. Beacon Pointe Advisors LLC now owns 17,077 shares of the company’s stock valued at $1,480,000 after buying an additional 1,231 shares in the last quarter. NorthRock Partners LLC bought a new stake in Bank First in the 4th quarter worth approximately $214,000. Regal Investment Advisors LLC purchased a new stake in shares of Bank First during the 4th quarter worth approximately $429,000. Finally, Virtu Financial LLC purchased a new stake in shares of Bank First during the 4th quarter worth approximately $241,000. 29.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Piper Sandler boosted their price target on shares of Bank First from $84.00 to $99.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th.

Bank First Stock Up 2.7 %

Shares of NASDAQ:BFC opened at $90.80 on Friday. The company has a market cap of $915.35 million, a price-to-earnings ratio of 11.79 and a beta of 0.31. Bank First Co. has a 12 month low of $70.00 and a 12 month high of $96.00. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.02. The company has a 50-day moving average price of $88.70 and a 200 day moving average price of $84.02.

Bank First (NASDAQ:BFC) last posted its quarterly earnings data on Tuesday, July 16th. The company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.13. The business had revenue of $55.22 million during the quarter, compared to analyst estimates of $38.70 million. Bank First had a return on equity of 10.07% and a net margin of 32.18%. As a group, equities research analysts predict that Bank First Co. will post 6.1 earnings per share for the current year.

Bank First Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Wednesday, September 25th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.76%. This is a positive change from Bank First’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Wednesday, September 25th. Bank First’s payout ratio is presently 20.78%.

Bank First Company Profile

Bank First Corporation operates as a holding company for Bank First, N.A. that provides consumer and commercial financial services to businesses, professionals, consumers, associations, individuals, and governmental authorities in Wisconsin. It offers checking, savings, money market, cash management, retirement, and health savings accounts; other time deposits; certificates of deposit; and residential mortgage products.