Bank First (NASDAQ:BFC) Shares Gap Down to $79.28

Bank First Co. (NASDAQ:BFC)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $79.28, but opened at $77.12. Bank First shares last traded at $76.79, with a volume of 2,401 shares traded.

Wall Street Analysts Forecast Growth

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

Bank First Price Performance

The stock has a market capitalization of $796.40 million, a P/E ratio of 10.05 and a beta of 0.27. The business has a fifty day simple moving average of $82.94 and a 200 day simple moving average of $83.47. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Wednesday, June 26th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date is Tuesday, June 25th. Bank First’s payout ratio is currently 18.18%.

Insiders Place Their Bets

In other news, Director Mary Kay Bourbulas acquired 600 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was purchased 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 approximately $580,408.64. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Phillip R. Maples purchased 650 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was bought at an average price of $81.72 per share, for a total transaction of $53,118.00. Following the purchase, the director now directly owns 1,983 shares in the company, valued at approximately $162,050.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mary Kay Bourbulas acquired 600 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was purchased 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 of the company’s stock, valued at approximately $580,408.64. The disclosure for this purchase can be found here. Insiders own 5.73% of the company’s stock.

Institutional Trading of Bank First

Several hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in Bank First in the 3rd quarter worth about $335,000. Vanguard Group Inc. boosted its position in Bank First by 1.0% during the third quarter. Vanguard Group Inc. now owns 510,701 shares of the company’s stock worth $39,401,000 after purchasing an additional 5,182 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Bank First by 167.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 67,538 shares of the company’s stock worth $5,211,000 after purchasing an additional 42,240 shares in the last quarter. Swiss National Bank raised its position in shares of Bank First by 6.6% in the third quarter. Swiss National Bank now owns 19,417 shares of the company’s stock valued at $1,498,000 after purchasing an additional 1,200 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in shares of Bank First during the 3rd quarter valued at approximately $57,000. 29.95% of the stock is currently owned by institutional investors.

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.