Bank First (NASDAQ:BFC) Cut to Market Perform at Hovde Group

Hovde Group lowered shares of Bank First (NASDAQ:BFCFree Report) from an outperform rating to a market perform rating in a report published on Monday, Marketbeat reports.

Separately, Piper Sandler lifted their target price on Bank First from $88.00 to $93.00 and gave the stock a neutral rating in a research report on Thursday, January 18th.

View Our Latest Report on Bank First

Bank First Price Performance

Shares of NASDAQ:BFC opened at $83.45 on Monday. The firm has a market cap of $846.18 million, a price-to-earnings ratio of 11.46 and a beta of 0.27. Bank First has a fifty-two week low of $65.00 and a fifty-two week high of $92.50. The firm has a fifty day moving average price of $85.18 and a 200 day moving average price of $82.58. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.00 and a current ratio of 1.00.

Bank First (NASDAQ:BFCGet Free Report) last issued its quarterly earnings data on Tuesday, January 16th. The company reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.03. Bank First had a return on equity of 10.16% and a net margin of 31.03%. The company had revenue of $75.37 million for the quarter. As a group, sell-side analysts expect that Bank First will post 5.9 earnings per share for the current fiscal year.

Bank First Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 10th. Shareholders of record on Wednesday, March 27th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, March 26th. This is a positive change from Bank First’s previous quarterly dividend of $0.30. This represents a $1.40 dividend on an annualized basis and a yield of 1.68%. Bank First’s payout ratio is 16.48%.

Insider Activity

In other news, Director Phillip R. Maples purchased 650 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was acquired at an average cost of $81.72 per share, with a total value of $53,118.00. Following the completion of the transaction, the director now owns 1,983 shares in the company, valued at approximately $162,050.76. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 5.73% of the company’s stock.

Institutional Investors Weigh In On Bank First

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. West Tower Group LLC purchased a new stake in Bank First in the fourth quarter valued at about $39,000. Ensign Peak Advisors Inc purchased a new stake in Bank First in the third quarter valued at about $37,000. FMR LLC raised its stake in Bank First by 145.2% in the third quarter. FMR LLC now owns 532 shares of the company’s stock valued at $41,000 after buying an additional 315 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of Bank First by 26.8% in the 3rd quarter. Tower Research Capital LLC TRC now owns 677 shares of the company’s stock valued at $52,000 after acquiring an additional 143 shares during the period. Finally, Quantbot Technologies LP acquired a new position in shares of Bank First in the 3rd quarter valued at $57,000. 27.35% of the stock is currently owned by hedge funds and other institutional investors.

About Bank First

(Get Free Report)

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. The company offers checking, savings, money market, cash management, retirement, and health savings accounts; other time deposits; certificates of deposit; and residential mortgage products.

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