13,112 Shares of Bank First National Corporation $BFC Purchased by Bank of America Corp DE

Key Points

• Bank of America acquired 13,112 shares of Bank First National in the second quarter, worth approximately $1.95 million, while institutional investors collectively owned 29.95% of the company.
• Analyst sentiment remains moderately positive, with Bank First National receiving an average “Moderate Buy” rating and a consensus price target of $163. Piper Sandler raised its target to $161, while Zacks downgraded the stock to “Hold.”
• The company reported quarterly EPS of $2.45, exceeding estimates, and increased its quarterly dividend to $0.60 from $0.55, providing an annualized dividend of $2.40 and a 1.6% yield.

Bank of America Corp DE acquired a new position in shares of Bank First National Corporation (NASDAQ:BFC - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 13,112 shares of the company's stock, valued at approximately $1,945,000. Bank of America Corp DE owned approximately 0.12% of Bank First National at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in BFC. Jupiter Topco LLC purchased a new stake in shares of Bank First National during the second quarter worth approximately $764,000. Ancora Advisors LLC purchased a new stake in shares of Bank First National during the second quarter worth $26,000. Legal & General Group Plc acquired a new stake in shares of Bank First National in the second quarter valued at about $1,166,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Bank First National in the second quarter valued at about $669,000. Finally, Quantbot Technologies LP purchased a new position in shares of Bank First National in the second quarter worth about $639,000. Institutional investors and hedge funds own 29.95% of the company's stock.

Insider Buying and Selling at Bank First National

In related news, Director Sistine Peter J. Van sold 1,848 shares of Bank First National stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $155.57, for a total value of $287,493.36. Following the completion of the sale, the director owned 7,640 shares in the company, valued at approximately $1,188,554.80. This trade represents a 19.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.97% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on BFC. Piper Sandler boosted their price target on shares of Bank First National from $157.00 to $161.00 and gave the stock a "neutral" rating in a research report on Thursday, July 23rd. Zacks Research downgraded shares of Bank First National from a "strong-buy" rating to a "hold" rating in a report on Monday, September 14th. Finally, Weiss Ratings raised shares of Bank First National from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Wednesday, September 16th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Bank First National presently has an average rating of "Moderate Buy" and an average target price of $163.00.

Bank First National Trading Down 0.6%

Shares of Bank First National stock opened at $148.81 on Thursday. The stock has a 50 day moving average of $153.05 and a 200 day moving average of $146.09. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market capitalization of $1.65 billion, a price-to-earnings ratio of 19.35 and a beta of 0.41. Bank First National Corporation has a fifty-two week low of $119.08 and a fifty-two week high of $159.10.

Bank First National (NASDAQ:BFC - Get Free Report) last posted 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 return on equity of 12.48% and a net margin of 27.70%.The company had revenue of $65.03 million for the quarter, compared to the consensus estimate of $65.25 million. As a group, research analysts predict that Bank First National Corporation will post 9.91 earnings per share for the current year.

Bank First National Increases Dividend

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

Bank First National Company Profile

Bank First National, operating through Bank First Corporation, is a Wisconsin-based community bank that provides banking and financial services to individuals, families, businesses and municipalities. The company offers checking and savings accounts, certificates of deposit, residential mortgages, consumer loans, commercial lending and agricultural financing.

Bank First also provides business banking solutions such as treasury management, cash management, payment services, online and mobile banking, and other commercial financial products.

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