Bank First National (NASDAQ:BFC) Director Todd Sprang Buys 400 Shares of Stock

Key Points

• Director Todd Sprang purchased 400 Bank First National shares at an average price of $148.37, investing $59,348 and increasing his direct holdings by 19.69% to 2,431 shares.
• Bank First National shares rose to $150.84, while the company’s latest quarterly earnings of $2.35 per share fell short of analysts’ $2.60 estimate despite revenue exceeding expectations.
• The company raised its quarterly dividend from $0.60 to $0.65 per share, implying an annualized dividend of $2.60 and a 1.7% yield; analysts maintain a “Moderate Buy” consensus with a $163 price target.

Bank First National Corporation (NASDAQ:BFC - Get Free Report) Director Todd Sprang acquired 400 shares of the firm's stock in a transaction dated Wednesday, October 28th. The stock was purchased at an average cost of $148.37 per share, with a total value of $59,348.00. Following the completion of the acquisition, the director directly owned 2,431 shares of the company's stock, valued at approximately $360,687.47. This trade represents a 19.69% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Bank First National Stock Performance

Shares of Bank First National stock traded up $2.96 during trading on Thursday, reaching $150.84. The company's stock had a trading volume of 40,770 shares, compared to its average volume of 87,287. The company has a 50-day moving average price of $150.47 and a two-hundred day moving average price of $144.67. The firm has a market cap of $1.67 billion, a PE ratio of 18.82 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. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.03.

Bank First National (NASDAQ:BFC - Get Free Report) last issued its quarterly earnings results on Tuesday, October 20th. The company reported $2.35 earnings per share for the quarter, missing analysts' consensus estimates of $2.60 by ($0.25). The business had revenue of $75.44 million for the quarter, compared to analyst estimates of $65.80 million. Bank First National had a return on equity of 12.89% and a net margin of 27.38%. On average, analysts forecast that Bank First National Corporation will post 9.94 EPS for the current year.

Bank First National Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 6th. Investors of record on Wednesday, December 23rd will be issued a dividend of $0.65 per share. This is an increase from Bank First National's previous quarterly dividend of $0.60. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Wednesday, December 23rd. Bank First National's dividend payout ratio is 29.96%.

Hedge Funds Weigh In On Bank First National

A number of large investors have recently made changes to their positions in BFC. Versant Capital Management Inc grew its holdings in Bank First National by 53.8% in the third quarter. Versant Capital Management Inc now owns 200 shares of the company's stock valued at $30,000 after purchasing an additional 70 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of Bank First National by 5.2% during the 2nd quarter. Arizona State Retirement System now owns 2,705 shares of the company's stock valued at $401,000 after acquiring an additional 133 shares in the last quarter. Ancora Advisors LLC acquired a new position in shares of Bank First National during the second quarter worth about $26,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of 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 worth $2,854,000 after purchasing an additional 193 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Bank First National by 10.6% during the first quarter. The Manufacturers Life Insurance Company now owns 4,715 shares of the company's stock worth $637,000 after purchasing an additional 451 shares in the last quarter. Hedge funds and other institutional investors own 29.95% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on BFC. Weiss Ratings raised Bank First National from a "buy (b+)" rating to a "buy (a-)" rating in a report on Friday, October 16th. Zacks Research downgraded 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 report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Bank First National currently has an average rating of "Moderate Buy" and a consensus price target of $163.00.

About Bank First National

Bank First National, operating as Bank First Corporation NASDAQ: BFC, is the holding company for Bank First, a community bank headquartered in Manitowoc, Wisconsin. The bank provides banking services to individuals, families, businesses and municipalities through locations across Wisconsin.

Its products and services include checking and savings accounts, certificates of deposit, consumer loans, residential mortgages, commercial real estate and business lending, agricultural loans, treasury management and online and mobile banking.

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