Hovde Group Increases Bank First National (NASDAQ:BFC) Price Target to $165.00

Key Points

• Hovde Group raised its price target on Bank First National from $160 to $165 and reiterated an outperform rating, implying about 15% upside from the prior close.
• Analyst sentiment is mixed but still constructive overall, with MarketBeat showing a consensus rating of Moderate Buy and an average target price of $161, though several firms have recently adjusted ratings up or down.
• Bank First National recently missed quarterly estimates, reporting EPS of $2.24 versus the $2.40 consensus and revenue of $63.75 million versus $65.70 million expected, even as insiders bought shares and institutional ownership remained near 30%.

Bank First National (NASDAQ:BFC - Get Free Report) had its price target raised by equities researchers at Hovde Group from $160.00 to $165.00 in a report released on Thursday. The firm currently has an "outperform" rating on the stock. Hovde Group's target price points to a potential upside of 15.34% from the company's previous close.

Other equities research analysts have also recently issued research reports about the company. Scotiabank raised Bank First National to a "sector outperform" rating in a research report on Monday, January 26th. Wall Street Zen raised shares of Bank First National from a "strong sell" rating to a "hold" rating in a research report on Saturday, May 16th. Weiss Ratings upgraded shares of Bank First National from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Thursday, April 16th. Piper Sandler upped their price objective on shares of Bank First National from $150.00 to $157.00 and gave the stock a "neutral" rating in a report on Monday, April 20th. Finally, Zacks Research lowered shares of Bank First National from a "hold" rating to a "strong sell" rating in a research note on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $161.00.

Bank First National Trading Down 0.2%

Shares of NASDAQ:BFC opened at $143.05 on Thursday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $1.60 billion, a PE ratio of 19.90 and a beta of 0.44. Bank First National has a 1 year low of $109.11 and a 1 year high of $152.99. The firm has a fifty day moving average price of $139.73 and a 200 day moving average price of $134.84.

Bank First National (NASDAQ:BFC - Get Free Report) last announced its quarterly earnings results on Thursday, April 16th. The company reported $2.24 earnings per share for the quarter, missing analysts' consensus estimates of $2.40 by ($0.16). The company had revenue of $63.75 million during the quarter, compared to analyst estimates of $65.70 million. Bank First National had a return on equity of 11.89% and a net margin of 27.49%.During the same period in the prior year, the firm earned $1.82 EPS. Analysts expect that Bank First National will post 9.5 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Michael S. Stayer-Suprick bought 225 shares of the company's stock in a transaction that occurred on Tuesday, April 21st. The shares were acquired at an average price of $140.04 per share, with a total value of $31,509.00. Following the completion of the transaction, the director owned 4,597 shares of the company's stock, valued at $643,763.88. The trade was a 5.15% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Todd A. Sprang bought 450 shares of the business's stock in a transaction that occurred on Wednesday, April 22nd. The shares were bought at an average price of $138.96 per share, with a total value of $62,532.00. Following the completion of the purchase, the director owned 2,015 shares in the company, valued at approximately $280,004.40. The trade was a 28.75% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 4.97% of the stock is owned by insiders.

Institutional Trading of Bank First National

Several hedge funds and other institutional investors have recently bought and sold shares of BFC. AQR Capital Management LLC lifted its stake in shares of Bank First National by 102.9% in the first quarter. AQR Capital Management LLC now owns 17,100 shares of the company's stock valued at $1,723,000 after buying an additional 8,672 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased 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 acquiring an additional 250 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake 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 acquiring an additional 7,656 shares during the period. Jane Street Group LLC raised its holdings in Bank First National by 194.8% in the 1st quarter. Jane Street Group LLC now owns 10,962 shares of the company's stock valued at $1,104,000 after acquiring an additional 7,244 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Bank First National by 5.1% in the 2nd quarter. First Trust Advisors LP now owns 6,363 shares of the company's stock worth $749,000 after acquiring an additional 309 shares during the period. 29.95% of the stock is currently owned by institutional investors and hedge funds.

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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