PNC Financial Services Group Inc. Reduces Position in Bank First Co. (NASDAQ:BFC)

PNC Financial Services Group Inc. cut its stake in shares of Bank First Co. (NASDAQ:BFC) by 59.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,221 shares of the company’s stock after selling 4,811 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Bank First were worth $319,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. Quest Partners LLC boosted its holdings in Bank First by 212.6% in the third quarter. Quest Partners LLC now owns 2,057 shares of the company’s stock valued at $187,000 after purchasing an additional 1,399 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Bank First in the fourth quarter valued at $287,000. PDT Partners LLC purchased a new stake in Bank First in the third quarter valued at $306,000. Heck Capital Advisors LLC purchased a new stake in Bank First in the fourth quarter valued at $349,000. Finally, SG Americas Securities LLC boosted its holdings in Bank First by 20.1% in the fourth quarter. SG Americas Securities LLC now owns 4,438 shares of the company’s stock valued at $440,000 after purchasing an additional 742 shares during the last quarter. 29.95% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Michael S. Stayer-Suprick purchased 1,000 shares of Bank First stock in a transaction that occurred on Wednesday, February 19th. The stock was purchased at an average price of $102.07 per share, for a total transaction of $102,070.00. Following the transaction, the director now directly owns 3,035 shares in the company, valued at approximately $309,782.45. This trade represents a 49.14 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Daniel C. Mcconeghy purchased 380 shares of Bank First stock in a transaction that occurred on Tuesday, March 4th. The shares were bought at an average price of $105.72 per share, with a total value of $40,173.60. Following the transaction, the director now owns 2,000 shares in the company, valued at approximately $211,440. The trade was a 23.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 4.10% of the company’s stock.

Bank First Price Performance

NASDAQ:BFC opened at $100.53 on Friday. Bank First Co. has a one year low of $74.90 and a one year high of $110.49. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market cap of $1.00 billion, a price-to-earnings ratio of 15.47 and a beta of 0.32. The firm’s fifty day moving average is $101.64 and its two-hundred day moving average is $98.59.

Bank First (NASDAQ:BFC) last issued its quarterly earnings data on Tuesday, January 21st. The company reported $1.74 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.19. Bank First had a net margin of 29.00% and a return on equity of 10.53%. Research analysts expect that Bank First Co. will post 6.9 EPS for the current year.

Bank First Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 26th will be given a $0.45 dividend. The ex-dividend date of this dividend is Wednesday, March 26th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.79%. Bank First’s dividend payout ratio (DPR) is currently 27.69%.

Bank First 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.