Bank First (NASDAQ:BFC) Shares Down 0.5% - Here's What Happened

Bank First Co. (NASDAQ:BFC) saw its shares dip by 0.5% on Tuesday. The stock traded at a low of $98.98, eventually settling at $99.08. During mid-day trading, about 1,473 shares exchanged hands, a significant drop of 93% compared to the average daily volume of 20,278 shares. The stock had previously closed at $99.62.

Wall Street Analysts Forecast Growth

In a recent update, Piper Sandler raised its price target for Bank First shares from $99.00 to $104.00. This was accompanied by a “neutral” rating for the stock, reflecting a cautious outlook.

Bank First Stock Performance Overview

The company has achieved a market capitalization of $1.00 billion, with a price-to-earnings (PE) ratio of 12.33 and a beta of 0.34, indicating moderate volatility in comparison to the market. The current ratio and quick ratio both stand at 1.00, while the debt-to-equity ratio is notably low at 0.02. Recent moving averages show the stock at $101.31 over 50 days and $92.02 over 200 days.

On October 15th, Bank First reported its quarterly earnings, announcing earnings per share (EPS) of $1.65. This surpassed analysts’ expectations, which anticipated an EPS of $1.54, resulting in a positive surprise of $0.11. The quarterly revenue was recorded at $58.93 million, significantly higher than the forecast of $39.60 million. In terms of profitability, Bank First reported a net margin of 32.02% and a return on equity of 10.10%. Analysts predict that the company will achieve an EPS of 6.35 this year.

Dividend Increase Announced

Recently, Bank First declared a quarterly dividend of $0.45, scheduled for payment on January 6th. Shareholders who are registered by December 23rd will be eligible for this dividend. The annualized dividend now amounts to $1.80, resulting in a yield of 1.79%. This is an increase from the previous quarterly dividend of $0.40, reflecting the company's healthy payout ratio of 22.11%.

Institutional Investor Activity

Institutional investors have been making notable adjustments to their holdings in Bank First. For example, Quest Partners LLC increased its position by an extraordinary 65,700.0% in the second quarter, now holding 658 shares valued at $54,000. Meanwhile, Arizona State Retirement System raised its stake by 5.5%, owning a total of 2,554 shares worth $211,000. Other institutions like PDT Partners LLC and SG Americas Securities LLC also reported new or increased stakes in the company recently. Currently, institutional investors collectively hold about 29.95% of Bank First's stock.

About Bank First

Bank First Corporation serves as a holding company for Bank First, N.A., which offers a range of financial services including personal and business banking solutions in Wisconsin. Their services encompass checking, savings, cash management, retirement accounts, and mortgage products.

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