Bank First (NASDAQ:BFC) Sees Large Volume Increase – Here’s Why

Bank First Co. (NASDAQ:BFC) shares saw strong trading volume on Tuesday . 80,399 shares were traded during mid-day trading, an increase of 230% from the previous session’s volume of 24,363 shares.The stock last traded at $115.34 and had previously closed at $114.94.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on BFC shares. Piper Sandler boosted their price target on Bank First from $110.00 to $111.00 and gave the stock a “neutral” rating in a research note on Thursday, April 17th. Hovde Group raised shares of Bank First from a “market perform” rating to an “outperform” rating and set a $130.00 target price on the stock in a research report on Tuesday, May 6th.

Bank First Stock Down 2.7%

The company has a debt-to-equity ratio of 0.02, a current ratio of 1.00 and a quick ratio of 1.00. The business’s fifty day moving average price is $109.46 and its two-hundred day moving average price is $104.70. The stock has a market capitalization of $1.12 billion, a PE ratio of 17.43 and a beta of 0.39.

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

Bank First Increases Dividend

The company also recently announced a dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 9th were issued a dividend of $3.50 per share. This is an increase from Bank First’s previous dividend of $0.20. The ex-dividend date of this dividend was Friday, May 9th. Bank First’s payout ratio is 26.43%.

Hedge Funds Weigh In On Bank First

Institutional investors have recently bought and sold shares of the business. Commonwealth Equity Services LLC lifted its stake in Bank First by 2.3% during the 4th quarter. Commonwealth Equity Services LLC now owns 4,731 shares of the company’s stock valued at $469,000 after acquiring an additional 105 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Bank First by 2.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,506 shares of the company’s stock worth $546,000 after purchasing an additional 124 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Bank First during the fourth quarter worth $277,000. Raymond James Financial Inc. acquired a new position in Bank First during the fourth quarter valued at $287,000. Finally, Northern Trust Corp boosted its holdings in Bank First by 5.6% in the fourth quarter. Northern Trust Corp now owns 95,639 shares of the company’s stock valued at $9,477,000 after purchasing an additional 5,098 shares during the last quarter. 29.95% of the stock is owned by hedge funds and other institutional investors.

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.