Bank First National (NASDAQ:BFC) Sets New 12-Month High - Here's Why

Key Points

• Bank First National shares reached a new 52-week high of $154.42, supported by a consensus “Buy” rating and an average analyst price target of $163.
• The bank exceeded quarterly expectations, reporting $2.45 in EPS versus $2.40 expected and revenue of $75.04 million versus the $65.25 million consensus estimate.
• Bank First National increased its quarterly dividend from $0.55 to $0.60 per share, representing a $2.40 annualized payout and a 1.6% yield.

Shares of Bank First National Corporation (NASDAQ:BFC - Get Free Report) reached a new 52-week high on Friday . The company traded as high as $154.42 and last traded at $149.2890, with a volume of 1418 shares traded. The stock had previously closed at $151.29.

Analysts Set New Price Targets

Several equities analysts have issued reports on BFC shares. Zacks Research upgraded Bank First National from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 23rd. Hovde Group upped their target price on Bank First National from $160.00 to $165.00 and gave the company an "outperform" rating in a research report on Thursday, May 21st. Weiss Ratings lowered Bank First National from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Thursday, June 4th. Wall Street Zen raised Bank First National from a "strong sell" rating to a "hold" rating in a research report on Saturday, May 16th. Finally, Piper Sandler boosted their price target on Bank First National from $157.00 to $161.00 and gave the company a "neutral" rating in a research note on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $163.00.

Bank First National Price Performance

The company has a debt-to-equity ratio of 0.03, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of 19.69 and a beta of 0.41. The stock has a 50 day moving average price of $145.42 and a 200-day moving average price of $141.64.

Bank First National (NASDAQ:BFC - Get Free Report) last issued its earnings results on Tuesday, July 21st. The company reported $2.45 EPS for the quarter, beating analysts' consensus estimates of $2.40 by $0.05. Bank First National had a net margin of 27.70% and a return on equity of 13.02%. The business had revenue of $75.04 million during the quarter, compared to analysts' expectations of $65.25 million. On average, analysts forecast that Bank First National Corporation will post 9.91 earnings per share for the current year.

Bank First National Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Wednesday, September 23rd will be paid a $0.60 dividend. The ex-dividend date of this dividend is Wednesday, September 23rd. This is a positive change from Bank First National's previous quarterly dividend of $0.55. This represents a $2.40 annualized dividend and a dividend yield of 1.6%. Bank First National's payout ratio is 31.21%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Bank First National by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 598,817 shares of the company's stock valued at $72,948,000 after buying an additional 10,052 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Bank First National by 2,452,855.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 490,591 shares of the company's stock worth $59,764,000 after purchasing an additional 490,571 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Bank First National by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 247,275 shares of the company's stock worth $30,127,000 after purchasing an additional 8,308 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Bank First National by 21.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 159,678 shares of the company's stock worth $21,565,000 after purchasing an additional 27,953 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Bank First National by 9.6% in the 1st quarter. First Trust Advisors LP now owns 73,036 shares of the company's stock valued at $9,864,000 after purchasing an additional 6,416 shares in the last quarter. 29.95% of the stock is owned by hedge funds and other institutional investors.

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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