Bank of America Corp DE Boosts Holdings in Bank First Co. (NASDAQ:BFC)

Bank of America Corp DE raised its stake in Bank First Co. (NASDAQ:BFC - Free Report) by 37.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,326 shares of the company's stock after buying an additional 2,837 shares during the period. Bank of America Corp DE owned 0.10% of Bank First worth $1,023,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Sterling Capital Management LLC lifted its holdings in shares of Bank First by 771.4% during the fourth quarter. Sterling Capital Management LLC now owns 305 shares of the company's stock worth $30,000 after purchasing an additional 270 shares during the period. KLP Kapitalforvaltning AS bought a new position in Bank First during the fourth quarter worth $189,000. Hanlon Investment Management Inc. bought a new position in Bank First during the fourth quarter worth $218,000. Hsbc Holdings PLC bought a new position in Bank First during the fourth quarter worth $230,000. Finally, Mariner LLC raised its stake in Bank First by 4.7% during the fourth quarter. Mariner LLC now owns 2,497 shares of the company's stock worth $247,000 after buying an additional 112 shares during the last quarter. Institutional investors and hedge funds own 29.95% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on BFC shares. Piper Sandler lifted their target price on shares of Bank First from $110.00 to $111.00 and gave the stock a "neutral" rating in a research note on Thursday, April 17th. Hovde Group raised shares of Bank First from a "market perform" rating to an "outperform" rating and set a $130.00 target price for the company in a research note on Tuesday, May 6th.

Bank First Stock Up 1.3%

BFC traded up $1.50 during midday trading on Friday, hitting $114.85. The company had a trading volume of 124,821 shares, compared to its average volume of 26,948. Bank First Co. has a 52 week low of $77.00 and a 52 week high of $119.04. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of 17.67 and a beta of 0.39. The stock's 50 day moving average price is $109.98 and its 200 day moving average price is $104.87.

Bank First (NASDAQ:BFC - Get Free Report) last released its quarterly earnings results on Tuesday, April 15th. The company reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.20. The business had revenue of $43.10 million for the quarter, compared to analysts' expectations of $41.80 million. Bank First had a net margin of 29.00% and a return on equity of 10.53%. On average, research analysts anticipate that Bank First Co. will post 6.9 earnings per share for the current fiscal year.

Bank First Increases Dividend

The business also recently declared a dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 9th were issued a $3.50 dividend. This is a positive change from Bank First's previous dividend of $0.20. The ex-dividend date was Friday, May 9th. Bank First's dividend payout ratio is presently 26.43%.

About Bank First

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.