Bank First Co. to Issue Quarterly Dividend of $0.25 (NASDAQ:BFC)

Posted by Stephan Byrd on Mar 19th, 2023

Bank First Co. (NASDAQ:BFC – Get Rating) declared a quarterly dividend on Tuesday, January 17th, Zacks reports. Investors of record on Wednesday, March 22nd will be paid a dividend of 0.25 per share on Wednesday, April 5th. This represents a $1.00 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend is Tuesday, March 21st.

Bank First has increased its dividend payment by an average of 5.5% annually over the last three years and has raised its dividend annually for the last 3 consecutive years. Bank First has a dividend payout ratio of 15.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Bank First to earn $6.17 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 16.2%.

Bank First Stock Performance

Shares of BFC opened at $73.54 on Friday. Bank First has a 12 month low of $67.73 and a 12 month high of $99.83. The business’s fifty day simple moving average is $80.05 and its two-hundred day simple moving average is $84.27. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.05. The company has a market cap of $770.70 million, a price-to-earnings ratio of 13.18 and a beta of 0.30.

Bank First (NASDAQ:BFC – Get Rating) last released its quarterly earnings data on Tuesday, January 17th. The company reported $1.55 EPS for the quarter, missing the consensus estimate of $1.73 by ($0.18). Bank First had a net margin of 33.15% and a return on equity of 13.07%. The business had revenue of $34.52 million for the quarter, compared to analysts’ expectations of $37.10 million. Research analysts anticipate that Bank First will post 6.12 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Michael B. Molepske sold 10,000 shares of Bank First stock in a transaction dated Thursday, February 16th. The stock was sold at an average price of $80.25, for a total value of $802,500.00. Following the completion of the transaction, the chief executive officer now owns 43,934 shares in the company, valued at $3,525,703.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 7.55% of the company’s stock.

Institutional Trading of Bank First

A number of large investors have recently made changes to their positions in BFC. Moneta Group Investment Advisors LLC boosted its stake in Bank First by 85,912.7% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 6,016,591 shares of the company’s stock valued at $558,460,000 after acquiring an additional 6,009,596 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Bank First by 28.8% in the 3rd quarter. Vanguard Group Inc. now owns 408,408 shares of the company’s stock valued at $31,235,000 after acquiring an additional 91,207 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Bank First by 20.7% in the fourth quarter. Geode Capital Management LLC now owns 132,635 shares of the company’s stock valued at $12,311,000 after purchasing an additional 22,751 shares during the last quarter. Beacon Pointe Advisors LLC purchased a new position in Bank First during the first quarter valued at approximately $1,571,000. Finally, Bank of America Corp DE grew its holdings in Bank First by 339.5% in the fourth quarter. Bank of America Corp DE now owns 9,881 shares of the company’s stock valued at $917,000 after purchasing an additional 7,633 shares during the period. 22.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Piper Sandler cut shares of Bank First from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $106.00 to $95.00 in a report on Thursday, January 12th.

About Bank First

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Bank First Corp. is a bank holding company, which engages in the provision of financial products and services to individual and business customers. It offers checking accounts, savings accounts, money market accounts, cash management accounts, certificates of deposit, commercial and industrial loans, commercial real estate loans, construction and development loans, residential mortgages, consumer loans, credit cards, online banking, telephone banking, and mobile banking.