Bank First Co. (NASDAQ:BFC) Raises Dividend to $3.50 Per Share

Bank First Co. (NASDAQ:BFC - Get Free Report) announced a dividend on Friday, April 25th, NASDAQ Dividends reports. Stockholders of record on Friday, May 9th will be given a dividend of 3.50 per share on Friday, May 16th. The ex-dividend date is Friday, May 9th. This is a 1,650.0% increase from Bank First's previous dividend of $0.20.

Bank First has raised its dividend payment by an average of 22.2% annually over the last three years and has raised its dividend every year for the last 10 years. Bank First has a payout ratio of 23.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Bank First to earn $7.35 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 24.5%.

Bank First Price Performance

NASDAQ:BFC traded down $5.03 during trading hours on Friday, hitting $112.30. 26,573 shares of the stock traded hands, compared to its average volume of 21,286. The stock has a 50 day moving average price of $104.46 and a 200 day moving average price of $102.53. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.02. The company has a market cap of $1.12 billion, a price-to-earnings ratio of 17.28 and a beta of 0.42. Bank First has a 1 year low of $77.00 and a 1 year high of $119.04.

Bank First (NASDAQ:BFC - Get Free Report) last released its earnings results on Tuesday, April 15th. The company reported $1.82 earnings per share for the quarter, beating analysts' consensus estimates of $1.62 by $0.20. The company had revenue of $43.10 million for the quarter, compared to analysts' expectations of $41.80 million. Bank First had a net margin of 29.00% and a return on equity of 10.53%. Sell-side analysts forecast that Bank First will post 6.9 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on BFC shares. Piper Sandler lifted their target price on Bank First from $110.00 to $111.00 and gave the company a "neutral" rating in a research note on Thursday, April 17th. Hovde Group upgraded shares of Bank First from a "market perform" rating to an "outperform" rating and set a $130.00 price objective on the stock in a research report on Tuesday.

Insider Buying and Selling at Bank First

In other news, Director Daniel C. Mcconeghy bought 380 shares of the stock in a transaction dated Tuesday, March 4th. The stock was purchased at an average cost of $105.72 per share, for a total transaction of $40,173.60. Following the transaction, the director now owns 2,000 shares of the company's stock, valued at $211,440. The trade was a 23.46 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael S. Stayer-Suprick purchased 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The shares were acquired at an average cost of $102.07 per share, for a total transaction of $102,070.00. Following the purchase, the director now owns 3,035 shares of the company's stock, valued at $309,782.45. This represents a 49.14 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 3.42% 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.