Rafferty Asset Management LLC Invests $2.99 Million in Bank First National Corporation $BFC

Key Points

• Rafferty Asset Management opened a new position of 24,670 shares (~$2.99 million) in Bank First National during Q3, giving it about 1.67% ownership as institutional investors now hold roughly 29.95% of the company.
• Bank First National beat quarterly estimates with $2.00 EPS (vs. $1.75 expected) and $49.68M revenue, and raised its quarterly dividend to $0.50 (annualized $2.00, 1.4% yield).
• Analyst sentiment is generally positive with a consensus "Buy" and a $150 price target, while insider Director Steven M. Eldred sold 8,000 shares; BFC trades near $139 with a 52-week range of $93–$152.99.

Rafferty Asset Management LLC bought a new position in Bank First National Corporation (NASDAQ:BFC - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 24,670 shares of the company's stock, valued at approximately $2,993,000. Rafferty Asset Management LLC owned approximately 1.67% of Bank First National at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in BFC. AQR Capital Management LLC raised its holdings in shares of Bank First National by 102.9% during the 1st quarter. AQR Capital Management LLC now owns 17,100 shares of the company's stock worth $1,723,000 after acquiring an additional 8,672 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Bank First National by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,756 shares of the company's stock valued at $580,000 after purchasing an additional 250 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Bank First National by 58.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 20,843 shares of the company's stock valued at $2,100,000 after purchasing an additional 7,656 shares during the last quarter. Jane Street Group LLC grew its stake in shares of Bank First National by 194.8% in the 1st quarter. Jane Street Group LLC now owns 10,962 shares of the company's stock worth $1,104,000 after buying an additional 7,244 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in shares of Bank First National by 17,650.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 710 shares of the company's stock worth $84,000 after buying an additional 706 shares during the last quarter. Hedge funds and other institutional investors own 29.95% of the company's stock.

Bank First National Trading Up 0.8%

Shares of NASDAQ BFC opened at $139.14 on Thursday. Bank First National Corporation has a fifty-two week low of $93.00 and a fifty-two week high of $152.99. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.99 and a current ratio of 1.00. The company has a market cap of $1.56 billion, a price-to-earnings ratio of 19.24 and a beta of 0.43. The business's 50 day moving average price is $135.78 and its 200-day moving average price is $130.24.

Bank First National (NASDAQ:BFC - Get Free Report) last announced its quarterly earnings data on Thursday, January 22nd. The company reported $2.00 EPS for the quarter, beating the consensus estimate of $1.75 by $0.25. Bank First National had a return on equity of 11.61% and a net margin of 29.31%.The company had revenue of $49.68 million for the quarter, compared to the consensus estimate of $43.75 million. On average, sell-side analysts expect that Bank First National Corporation will post 6.9 earnings per share for the current year.

Bank First National Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 8th. Investors of record on Wednesday, March 25th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, March 25th. This represents a $2.00 annualized dividend and a yield of 1.4%. This is a boost from Bank First National's previous quarterly dividend of $0.45. Bank First National's payout ratio is 24.90%.

Analyst Ratings Changes

A number of research analysts recently commented on BFC shares. Zacks Research raised shares of Bank First National from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 27th. Wall Street Zen cut Bank First National from a "hold" rating to a "sell" rating in a report on Saturday, February 14th. Weiss Ratings reissued a "buy (b)" rating on shares of Bank First National in a research report on Wednesday, January 21st. Piper Sandler raised their price target on Bank First National from $142.00 to $150.00 and gave the stock a "neutral" rating in a research report on Monday, January 26th. Finally, Scotiabank upgraded shares of Bank First National to a "sector outperform" rating in a research report on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, Bank First National has an average rating of "Buy" and a consensus target price of $150.00.

Insiders Place Their Bets

In other news, Director Steven M. Eldred sold 8,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $151.95, for a total transaction of $1,215,600.00. Following the transaction, the director directly owned 125,680 shares of the company's stock, valued at approximately $19,097,076. This trade represents a 5.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.42% of the stock is owned by insiders.

Bank First National Company Profile

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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