Bank First National Corporation (NASDAQ:BFC) Declares Dividend Increase - $0.60 Per Share

Key Points

• Bank First National declared a quarterly dividend of $0.60 per share, up 9.1% from the prior $0.55 payout. The dividend is payable on October 7 to shareholders of record on September 23, with an indicated yield of about 1.7%.
• The company has raised its dividend for 10 straight years and currently has a 29.0% payout ratio, suggesting the dividend is well covered by earnings. Analysts expect future earnings to keep coverage strong.
• In its latest quarterly results, Bank First National reported EPS of $2.45, beating estimates, and revenue of $75.04 million, also ahead of forecasts. Analysts currently view the stock as a Moderate Buy with an average price target of $161.00.

Bank First National Corporation (NASDAQ:BFC - Get Free Report) declared a quarterly dividend on Tuesday, July 21st. Stockholders of record on Wednesday, September 23rd will be given a dividend of 0.60 per share on Wednesday, October 7th. This represents a c) annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Wednesday, September 23rd. This is a 9.1% increase from Bank First National's previous quarterly dividend of $0.55.

Bank First National has increased its dividend by an average of 0.5%annually over the last three years and has increased its dividend annually for the last 10 consecutive years. Bank First National has a dividend payout ratio of 29.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Bank First National to earn $11.07 per share next year, which means the company should continue to be able to cover its $2.20 annual dividend with an expected future payout ratio of 19.9%.

Bank First National Price Performance

Shares of NASDAQ:BFC traded down $2.32 during midday trading on Wednesday, hitting $143.28. The stock had a trading volume of 79,162 shares, compared to its average volume of 93,635. The company's 50-day moving average price is $144.48 and its 200-day moving average price is $140.31. Bank First National has a fifty-two week low of $115.29 and a fifty-two week high of $154.29. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $1.60 billion, a P/E ratio of 19.91 and a beta of 0.41.

Bank First National (NASDAQ:BFC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The company reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.28 by $0.17. The business had revenue of $75.04 million for the quarter, compared to analyst estimates of $64.40 million. Bank First National had a net margin of 27.49% and a return on equity of 11.89%. As a group, equities research analysts predict that Bank First National will post 9.69 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on BFC shares. Wall Street Zen upgraded Bank First National from a "strong sell" rating to a "hold" rating in a research note on Saturday, May 16th. Piper Sandler raised their price objective on Bank First National from $150.00 to $157.00 and gave the company a "neutral" rating in a research note on Monday, April 20th. Zacks Research raised Bank First National from a "strong sell" rating to a "hold" rating in a research note on Thursday, June 18th. Weiss Ratings cut shares of Bank First National from a "buy (a-)" rating to a "buy (b+)" rating in a report on Thursday, June 4th. Finally, Hovde Group raised their price target on shares of Bank First National from $160.00 to $165.00 and gave the company an "outperform" rating in a research note on Thursday, May 21st. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $161.00.

About Bank First National

Bank First National Corporation NASDAQ: BFC is the bank holding company for Bank First National, a community bank headquartered in Princeton, Wisconsin. The company offers a comprehensive suite of financial services designed to meet the needs of individuals, families, small businesses and agricultural clients. Through its branch network and digital channels, Bank First National provides deposit accounts, consumer and commercial lending, mortgage financing and treasury management solutions.

The bank's core deposit products include checking and savings accounts, money market funds and certificates of deposit, complemented by online and mobile banking platforms that enable customers to manage their finances remotely.

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