Bank First National (NASDAQ:BFC) Issues Earnings Results

Key Points

• Bank First National reported earnings of $1.91 per share for the quarter, exceeding analysts' expectations of $1.81 by $0.10.
• The company's stock traded up to $127.13 following the earnings release, with a market capitalization of $188.15 million.
• Recent analyst ratings include a downgrade by Wall Street Zen from "hold" to "sell", while Piper Sandler increased their price target from $115.00 to $137.00 and maintained a "neutral" rating.

Bank First National (NASDAQ:BFC - Get Free Report) released its earnings results on Tuesday. The company reported $1.91 earnings per share for the quarter, beating analysts' consensus estimates of $1.81 by $0.10, Zacks reports. Bank First National had a net margin of 29.04% and a return on equity of 10.92%.

Bank First National Stock Performance

Shares of NASDAQ BFC traded up $2.76 during midday trading on Tuesday, hitting $127.13. The company's stock had a trading volume of 52,229 shares, compared to its average volume of 74,227. The stock has a fifty day moving average price of $126.67 and a 200 day moving average price of $119.14. Bank First National has a one year low of $90.01 and a one year high of $135.72. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $188.15 million, a price-to-earnings ratio of 18.34 and a beta of 0.39.

Analyst Upgrades and Downgrades

BFC has been the topic of a number of research analyst reports. Wall Street Zen cut shares of Bank First National from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Weiss Ratings reiterated a "buy (b)" rating on shares of Bank First National in a research note on Wednesday, October 8th. Finally, Piper Sandler boosted their price target on shares of Bank First National from $115.00 to $137.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, Bank First National presently has a consensus rating of "Moderate Buy" and a consensus target price of $133.50.

Insiders Place Their Bets

In other news, Director Michael S. Stayer-Suprick bought 410 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The shares were acquired at an average price of $122.67 per share, with a total value of $50,294.70. Following the acquisition, the director owned 3,965 shares of the company's stock, valued at approximately $486,386.55. The trade was a 11.53% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 4.10% of the company's stock.

Institutional Trading of Bank First National

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Jane Street Group LLC increased its holdings in Bank First National by 212.7% during the 2nd quarter. Jane Street Group LLC now owns 34,276 shares of the company's stock worth $4,033,000 after acquiring an additional 23,314 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Bank First National by 58.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 20,843 shares of the company's stock worth $2,100,000 after acquiring an additional 7,656 shares during the period. Qube Research & Technologies Ltd increased its holdings in Bank First National by 88.0% during the 2nd quarter. Qube Research & Technologies Ltd now owns 18,489 shares of the company's stock worth $2,175,000 after acquiring an additional 8,656 shares during the period. AQR Capital Management LLC increased its holdings in Bank First National by 102.9% during the 1st quarter. AQR Capital Management LLC now owns 17,100 shares of the company's stock worth $1,723,000 after acquiring an additional 8,672 shares during the period. Finally, Raymond James Financial Inc. grew its stake in Bank First National by 420.7% in the 2nd quarter. Raymond James Financial Inc. now owns 15,100 shares of the company's stock worth $1,777,000 after buying an additional 12,200 shares in the last quarter. Institutional investors own 29.95% of the company's stock.

About Bank First National

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.

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