Bank First (NASDAQ:BFC) Price Target Raised to $111.00

Bank First (NASDAQ:BFC) had its price target upped by Piper Sandler from $110.00 to $111.00 in a research note released on Thursday,Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

Bank First Price Performance

Shares of BFC stock opened at $106.30 on Thursday. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 16.35 and a beta of 0.31. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.00 and a current ratio of 1.00. The stock’s 50-day simple moving average is $101.78 and its 200-day simple moving average is $100.33. Bank First has a fifty-two week low of $76.75 and a fifty-two week high of $110.49.

Bank First (NASDAQ:BFC) last issued its quarterly earnings results on Tuesday, April 15th. The company reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.20. The business had revenue of $43.10 million for the quarter, compared to analyst estimates of $41.80 million. Bank First had a net margin of 29.00% and a return on equity of 10.53%. As a group, equities analysts forecast that Bank First will post 6.9 earnings per share for the current fiscal year.

Bank First Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 25th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend is Wednesday, June 25th. Bank First’s payout ratio is 26.43%.

Insider Buying and Selling

In related news, Director Daniel C. Mcconeghy purchased 380 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was bought at an average cost of $105.72 per share, with a total value of $40,173.60. Following the completion of the acquisition, the director now owns 2,000 shares of the company’s stock, valued at $211,440. The trade was a 23.46 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Michael S. Stayer-Suprick acquired 1,000 shares of the stock in a transaction on Wednesday, February 19th. The stock was bought at an average price of $102.07 per share, for a total transaction of $102,070.00. Following the transaction, the director now owns 3,035 shares in the company, valued at approximately $309,782.45. This represents a 49.14 % increase in their position. The disclosure for this purchase can be found here. 4.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Bank First

Several large investors have recently made changes to their positions in the company. Lazard Asset Management LLC purchased a new position in Bank First in the fourth quarter valued at $25,000. Sterling Capital Management LLC increased its stake in shares of Bank First by 771.4% in the 4th quarter. Sterling Capital Management LLC now owns 305 shares of the company’s stock valued at $30,000 after purchasing an additional 270 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in Bank First in the 4th quarter worth about $189,000. GAMMA Investing LLC boosted its position in Bank First by 17,300.0% during the first quarter. GAMMA Investing LLC now owns 1,914 shares of the company’s stock worth $193,000 after purchasing an additional 1,903 shares in the last quarter. Finally, Hanlon Investment Management Inc. acquired a new stake in Bank First in the fourth quarter valued at approximately $218,000. 29.95% of the stock is currently owned by institutional investors and hedge funds.

About Bank First

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.