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

Bank First Co. (NASDAQ:BFC) experienced a slight decline in its stock value, dropping by 0.5% on Tuesday. The shares traded at a low of $98.98 and later at $99.08. During mid-day trading, around 1,473 shares were exchanged, marking a significant 93% decrease compared to the average daily volume of 20,278 shares. Previously, the stock had closed at $99.62.

Wall Street Analysts Forecast Growth

Recently, Piper Sandler raised their price target for Bank First shares from $99.00 to $104.00. They assigned a "neutral" rating to the stock in a report published on October 17th.

Check Out Our Latest Analysis on Bank First

Bank First's Stock Performance

The company boasts a market capitalization of $1.00 billion, with a price-to-earnings (PE) ratio of 12.33 and a beta of 0.34. Its financial ratios show a current ratio and quick ratio of 1.00, along with a minimal debt-to-equity ratio of 0.02. Bank First's stock has a 50-day simple moving average of $101.31, and a 200-day simple moving average of $92.02.

On October 15th, Bank First reported its quarterly earnings results, revealing an earnings per share (EPS) of $1.65. This figure surpassed analysts' expectations of $1.54 by $0.11. The company generated revenue of $58.93 million for the quarter, which significantly exceeded analyst predictions of $39.60 million. Bank First also registered a net margin of 32.02% and a return on equity of 10.10%. Analysts collectively predict that Bank First Co. will achieve an EPS of 6.35 for the current year.

Bank First Increases Dividend

In a recent development, Bank First declared a quarterly dividend of $0.45, which will be distributed on January 6th. Shareholders of record as of December 23rd will be eligible for this dividend. The ex-dividend date is also set for December 23rd. This new dividend rate signifies an annualized amount of $1.80, translating to a yield of 1.79%. This is an increase from the previous quarterly dividend of $0.40. The payout ratio for Bank First stands at 22.11%.

Institutional Inflows and Outflows

Several institutional investors have recently adjusted their holdings in Bank First. Quest Partners LLC notably increased its stake by an impressive 65,700.0% during the second quarter, bringing its total to 658 shares valued at $54,000 after acquiring an additional 657 shares. Also, the Arizona State Retirement System boosted its position by 5.5%, now owning 2,554 shares worth $211,000 following the purchase of 133 additional shares. PDT Partners LLC made a new investment in Bank First valued at about $306,000 in the third quarter. Furthermore, SG Americas Securities LLC raised its ownership by 91.7%, now holding 3,696 shares valued at $335,000 after acquiring an additional 1,768 shares. Harbour Investments Inc. incremented its stake by 6.3%, now owning 4,250 shares valued at $351,000. Institutional investors now account for approximately 29.95% of Bank First's total stock ownership.

About Bank First

Bank First Corporation functions primarily as a holding entity for Bank First, N.A. It provides a variety of financial services aimed at consumers, businesses, and government entities in Wisconsin. Services include checking, savings, cash management, retirement accounts, health savings accounts, certificates of deposit, and residential mortgage products.

Considerations Before Investing

If you are contemplating investing in Bank First, it is essential to conduct thorough research. Despite receiving a "Hold" rating from analysts, it may be beneficial to explore other investment opportunities that are currently being recommended by top analysts.

Bank, Finance, Stocks