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

Bank First Co. (NASDAQ:BFC) declared a quarterly dividend on Tuesday, April 16th, Zacks reports. Investors 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 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend is Wednesday, June 26th.

Bank First has raised its dividend by an average of 12.4% per year over the last three years and has raised its dividend annually for the last 4 consecutive years. Bank First has a dividend payout ratio of 23.2% indicating that its dividend is sufficiently covered by earnings. 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 Price Performance

BFC opened at $76.28 on Thursday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market capitalization of $773.48 million, a P/E ratio of 9.91 and a beta of 0.27. The company’s 50-day simple moving average is $83.37 and its two-hundred day simple moving average is $83.42. Bank First has a 52-week low of $65.00 and a 52-week high of $92.50.

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

Insider Buying and Selling

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

Institutional Investors Weigh In On Bank First

Institutional investors have recently added to or reduced their stakes in the stock. Nuveen Asset Management LLC grew its holdings in Bank First by 1.0% during the 3rd quarter. Nuveen Asset Management LLC now owns 34,653 shares of the company’s stock valued at $2,650,000 after buying an additional 348 shares in the last quarter. Credit Suisse AG grew its holdings in Bank First by 11.4% during the 3rd quarter. Credit Suisse AG now owns 5,878 shares of the company’s stock valued at $450,000 after buying an additional 600 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Bank First by 5.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,815 shares of the company’s stock valued at $292,000 after buying an additional 200 shares in the last quarter. State Street Corp grew its holdings in Bank First by 1.1% during the 2nd quarter. State Street Corp now owns 130,630 shares of the company’s stock valued at $9,931,000 after buying an additional 1,409 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in shares of Bank First by 20.4% during the 2nd quarter. Rhumbline Advisers now owns 9,150 shares of the company’s stock valued at $694,000 after acquiring an additional 1,552 shares during the last quarter. 29.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

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.