Bank First Co. (NASDAQ:BFC) Stake Boosted by Merit Financial Group LLC

Merit Financial Group LLC increased its position in shares of Bank First Co. (NASDAQ:BFC) by 86.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,788 shares of the company’s stock after acquiring an additional 2,687 shares during the period. Merit Financial Group LLC’s holdings in Bank First were worth $502,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Semanteon Capital Management LP bought a new stake in Bank First in the fourth quarter worth approximately $236,000. State of New Jersey Common Pension Fund D lifted its stake in shares of Bank First by 21.4% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 19,318 shares of the company’s stock valued at $1,674,000 after purchasing an additional 3,399 shares during the last quarter. Arizona State Retirement System bought a new stake in Bank First in the fourth quarter worth $214,000. Raymond James Financial Services Advisors Inc. acquired a new position in Bank First during the fourth quarter worth $208,000. Finally, Raymond James & Associates bought a new position in Bank First during the fourth quarter valued at about $631,000. Institutional investors and hedge funds own 29.95% of the company’s stock.

Bank First Stock Performance

NASDAQ:BFC opened at $82.04 on Wednesday. The firm has a market capitalization of $830.24 million, a PE ratio of 10.65 and a beta of 0.29. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.03. Bank First Co. has a 1 year low of $67.02 and a 1 year high of $92.50. The firm’s fifty day simple moving average is $81.63 and its 200 day simple moving average is $83.52.

Bank First Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Wednesday, June 26th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend is Tuesday, June 25th. Bank First’s dividend payout ratio is currently 18.18%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Hovde Group downgraded Bank First from an “outperform” rating to a “market perform” rating in a research note on Monday, March 4th. Piper Sandler decreased their target price on Bank First from $90.00 to $87.00 and set a “neutral” rating for the company in a research report on Thursday, April 18th.

Insider Transactions at Bank First

In other Bank First news, Director Mary Kay Bourbulas purchased 600 shares of the company’s stock in a transaction on Friday, March 15th. The shares were bought at an average cost of $82.88 per share, with a total value of $49,728.00. Following the transaction, the director now directly owns 7,003 shares in the company, valued at approximately $580,408.64. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.73% of the stock is currently owned by corporate insiders.

Bank First Profile

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.