Bank First Co. Declares Quarterly Dividend of $0.35 (NASDAQ:BFC)

Bank First Co. (NASDAQ:BFC) declared a quarterly dividend on Tuesday, April 16th, Zacks reports. Stockholders of record on Wednesday, June 26th will be paid a dividend of 0.35 per share on Wednesday, July 10th. This represents a $1.40 annualized dividend and a dividend yield of 1.84%. The ex-dividend date is Wednesday, June 26th.

Bank First has increased its dividend payment by an average of 12.4% annually over the last three years and has increased its dividend annually for the last 4 consecutive years. Bank First has a dividend payout ratio of 23.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Bank First to earn $6.00 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 23.3%.

Bank First Stock Performance

Shares of NASDAQ:BFC opened at $76.28 on Thursday. 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 has a 1-year low of $65.00 and a 1-year high of $92.50. The stock has a market capitalization of $773.48 million, a P/E ratio of 9.91 and a beta of 0.27. The business has a 50-day moving average price of $83.37 and a two-hundred day moving average price of $83.42.

Bank First (NASDAQ:BFC) last announced its quarterly earnings results on Tuesday, January 16th. The company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.03. The company had revenue of $75.37 million during the quarter. Bank First had a net margin of 32.08% and a return on equity of 10.16%. Equities analysts predict that Bank First will post 5.9 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on BFC shares. Piper Sandler increased their price target on Bank First from $88.00 to $93.00 and gave the stock a “neutral” rating in a report on Thursday, January 18th. Hovde Group cut shares of Bank First from an “outperform” rating to a “market perform” rating in a report on Monday, March 4th.

Insider Activity

In other news, Director Mary Kay Bourbulas bought 600 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was acquired at an average cost of $82.88 per share, with a total value of $49,728.00. Following the completion of the purchase, the director now owns 7,003 shares of the company’s stock, valued at $580,408.64. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Bank First news, Director Mary Kay Bourbulas purchased 600 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were acquired at an average price of $82.88 per share, for a total transaction of $49,728.00. Following the purchase, the director now owns 7,003 shares in the company, valued at $580,408.64. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Phillip R. Maples acquired 650 shares of Bank First stock in a transaction on Tuesday, February 6th. The shares were bought at an average cost of $81.72 per share, with a total value of $53,118.00. Following the completion of the transaction, the director now owns 1,983 shares of the company’s stock, valued at $162,050.76. The disclosure for this purchase can be found here. 5.73% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC boosted its stake in Bank First by 26.8% in the 3rd quarter. Tower Research Capital LLC TRC now owns 677 shares of the company’s stock valued at $52,000 after purchasing an additional 143 shares during the period. Ameritas Investment Partners Inc. lifted its holdings in shares of Bank First by 24.6% during the second quarter. Ameritas Investment Partners Inc. now owns 771 shares of the company’s stock worth $64,000 after buying an additional 152 shares in the last quarter. Credit Suisse AG boosted its position in shares of Bank First by 1.9% in the first quarter. Credit Suisse AG now owns 9,965 shares of the company’s stock valued at $733,000 after acquiring an additional 186 shares during the period. Amalgamated Bank grew its stake in shares of Bank First by 23.3% in the fourth quarter. Amalgamated Bank now owns 1,016 shares of the company’s stock valued at $94,000 after acquiring an additional 192 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Bank First by 5.5% during the third quarter. Dimensional Fund Advisors LP now owns 3,815 shares of the company’s stock worth $292,000 after acquiring an additional 200 shares during the period. Institutional investors and hedge funds own 29.95% of the company’s stock.

Bank First Company 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.