BlackRock Inc. Takes $121.85 Million Position in Bank First National Corporation $BFC

Key Points

• BlackRock acquired 821,389 shares of Bank First National in the second quarter, worth approximately $121.9 million and representing a 7.41% stake. Institutional investors and hedge funds collectively own 29.95% of the company.
• Bank First National reported quarterly EPS of $2.45, beating estimates of $2.40, while revenue reached $65.03 million. The stock traded at $152.81, near its 52-week high.
• The company raised its quarterly dividend to $0.60 per share from $0.55, implying an annualized dividend of $2.40 and a 1.6% yield. Analysts maintain a consensus “Buy” rating with a $163 price target.

BlackRock Inc. 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 Securities & Exchange Commission. The fund acquired 821,389 shares of the company's stock, valued at approximately $121,853,000. BlackRock Inc. owned 7.41% of Bank First National at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. grew its stake in shares of Bank First National by 920.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 204 shares of the company's stock worth $25,000 after purchasing an additional 184 shares in the last quarter. Royal Bank of Canada raised its stake in shares of Bank First National by 95.5% during the fourth quarter. Royal Bank of Canada now owns 305 shares of the company's stock valued at $36,000 after purchasing an additional 149 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in Bank First National by 406.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 370 shares of the company's stock worth $45,000 after purchasing an additional 297 shares during the period. Russell Investments Group Ltd. acquired a new stake in Bank First National in the third quarter worth about $94,000. Finally, Kestra Advisory Services LLC bought a new position in Bank First National in the 4th quarter valued at about $98,000. 29.95% of the stock is currently owned by institutional investors and hedge funds.

Bank First National Trading Up 0.6%

NASDAQ:BFC opened at $152.81 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.03. Bank First National Corporation has a 1-year low of $119.08 and a 1-year high of $159.10. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of 19.87 and a beta of 0.41. The stock has a fifty day simple moving average of $150.91 and a 200 day simple moving average of $144.25.

Bank First National (NASDAQ:BFC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The company reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $65.03 million for the quarter, compared to the consensus estimate of $65.25 million. Sell-side analysts forecast that Bank First National Corporation will post 9.91 earnings per share for the current year.

Bank First National Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Wednesday, September 23rd will be issued a dividend of $0.60 per share. This is an increase from Bank First National's previous quarterly dividend of $0.55. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Wednesday, September 23rd. Bank First National's dividend payout ratio (DPR) is presently 28.61%.

Wall Street Analyst Weigh In

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

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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