Bank First National Corporation $BFC Stock Bought by Legacy Private Trust Co.

Key Points

• Legacy Private Trust Co. increased its Bank First National stake by 1,048.3% in the third quarter, ending with 40,420 shares valued at approximately $6.0 million. Institutional investors collectively own about 29.95% of BFC.
• Bank First National reported quarterly EPS of $2.45, exceeding analyst expectations of $2.40, while revenue reached $65.03 million. The company also raised its quarterly dividend from $0.55 to $0.60, implying a 1.6% yield.
• BFC shares recently traded at $151.09, below the analyst consensus price target of $163.00. Analysts maintain a “Moderate Buy” consensus, although some firms recently downgraded their ratings to “Hold” or lower-tier buy recommendations.

Legacy Private Trust Co. lifted its holdings in Bank First National Corporation (NASDAQ:BFC - Free Report) by 1,048.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,420 shares of the company's stock after buying an additional 36,900 shares during the period. Legacy Private Trust Co. owned about 0.36% of Bank First National worth $6,015,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of BFC. BlackRock Inc. acquired a new stake in shares of Bank First National during the 2nd quarter valued at $121,853,000. Dimensional Fund Advisors LP grew its stake in shares of Bank First National by 21.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 159,678 shares of the company's stock valued at $21,565,000 after buying an additional 27,953 shares in the last quarter. First Trust Advisors LP increased its holdings in Bank First National by 9.6% in the first quarter. First Trust Advisors LP now owns 73,036 shares of the company's stock worth $9,864,000 after buying an additional 6,416 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Bank First National in the second quarter worth approximately $6,689,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Bank First National by 1.0% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,240 shares of the company's stock valued at $2,854,000 after acquiring an additional 193 shares in the last quarter. Hedge funds and other institutional investors own 29.95% of the company's stock.

Bank First National Stock Performance

Shares of Bank First National stock traded down $0.14 on Tuesday, reaching $151.09. The stock had a trading volume of 21,796 shares, compared to its average volume of 87,915. 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 business's 50-day moving average price is $153.18 and its two-hundred day moving average price is $146.42. The stock has a market cap of $1.67 billion, a P/E ratio of 19.65 and a beta of 0.42. 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 released its quarterly earnings results on Tuesday, July 21st. The company reported $2.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.40 by $0.05. The company had revenue of $65.03 million during the quarter, compared to analysts' expectations of $65.25 million. Bank First National had a net margin of 27.70% and a return on equity of 12.48%. On average, sell-side analysts forecast that Bank First National Corporation will post 9.91 EPS 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 given a $0.60 dividend. 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%. The ex-dividend date of this dividend is Wednesday, September 23rd. Bank First National's dividend payout ratio (DPR) is currently 31.21%.

Analyst Ratings Changes

Several analysts have commented on the stock. Weiss Ratings downgraded shares of Bank First National from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Friday. 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, Piper Sandler lifted their price objective on shares of Bank First National from $157.00 to $161.00 and gave the company a "neutral" rating in a research note on Thursday, July 23rd. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Bank First National currently has a consensus rating of "Moderate Buy" and an average target price of $163.00.

Insider Activity

In related news, Director Sistine Peter J. Van sold 1,848 shares of the business's stock in a transaction on Friday, September 11th. The shares were sold at an average price of $155.57, for a total transaction of $287,493.36. Following the transaction, the director owned 7,640 shares of the company's stock, valued at approximately $1,188,554.80. The trade was a 19.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 4.97% of the company's stock.

About Bank First National

Bank First Corporation is a Wisconsin-based bank holding company that operates through its subsidiary, Bank First. Headquartered in Manitowoc, Wisconsin, the institution provides banking services to individuals, families, businesses and municipal customers throughout eastern Wisconsin.

Bank First offers deposit accounts, consumer and business loans, mortgage lending, cash-management and treasury services, online and mobile banking, credit and debit cards, and other personal and commercial banking products.

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