Bank First (NASDAQ:BFC) Trading Down 0.5% – Here’s Why

Bank First Co. (NASDAQ:BFC) shares were down 0.5% on Tuesday . The company traded as low as $98.98 and last traded at $99.08. Approximately 1,473 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 20,278 shares. The stock had previously closed at $99.62.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler lifted their price objective on shares of Bank First from $99.00 to $104.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th.

Bank First Stock Up 0.7 %

The firm has a market capitalization of $1.00 billion, a PE ratio of 12.33 and a beta of 0.34. 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 stock has a 50 day simple moving average of $101.31 and a 200 day simple moving average of $92.02.

Bank First (NASDAQ:BFC) last announced its quarterly earnings results on Tuesday, October 15th. The company reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.11. The business had revenue of $58.93 million for the quarter, compared to analyst estimates of $39.60 million. Bank First had a net margin of 32.02% and a return on equity of 10.10%. As a group, sell-side analysts forecast that Bank First Co. will post 6.35 earnings per share for the current year.

Bank First Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Monday, December 23rd will be issued a $0.45 dividend. The ex-dividend date of this dividend is Monday, December 23rd. This represents a $1.80 annualized dividend and a yield of 1.79%. This is a boost from Bank First’s previous quarterly dividend of $0.40. Bank First’s payout ratio is 22.11%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Quest Partners LLC lifted its position in Bank First by 65,700.0% during the 2nd quarter. Quest Partners LLC now owns 658 shares of the company’s stock valued at $54,000 after acquiring an additional 657 shares during the period. Arizona State Retirement System boosted its stake in Bank First by 5.5% in the 2nd quarter. Arizona State Retirement System now owns 2,554 shares of the company’s stock worth $211,000 after purchasing an additional 133 shares in the last quarter. PDT Partners LLC purchased a new stake in Bank First during the 3rd quarter valued at about $306,000. SG Americas Securities LLC lifted its stake in shares of Bank First by 91.7% in the third quarter. SG Americas Securities LLC now owns 3,696 shares of the company’s stock worth $335,000 after buying an additional 1,768 shares in the last quarter. Finally, Harbour Investments Inc. increased its position in shares of Bank First by 6.3% during the second quarter. Harbour Investments Inc. now owns 4,250 shares of the company’s stock valued at $351,000 after acquiring an additional 250 shares in the last quarter. Hedge funds and other institutional investors own 29.95% of the company’s stock.

About Bank First

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.