Bank First National Corporation (NASDAQ:BFC) to Issue Quarterly Dividend of $0.65

Bank First National Corporation (NASDAQ:BFC) declared a quarterly dividend on Tuesday, October 20th. Shareholders of record on Wednesday, December 23rd will be given a dividend of $0.65 per share on Wednesday, January 6th. This represents a $2.60 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Wednesday, December 23rd. This is a 8.3% increase from Bank First National’s previous quarterly dividend of $0.60.

Bank First National has raised its dividend by an average of 0.5% per year over the last three years and has raised its dividend every year for the last 10 years. Bank First National has a dividend payout ratio of 31.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Bank First National to earn $10.70 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 22.4%.

Bank First National Stock Down 6.1%

Shares of NASDAQ:BFC traded down $9.05 during trading on Wednesday, hitting $139.29. 60,255 shares of the company were exchanged, compared to its average volume of 86,454. Bank First National has a fifty-two week low of $119.08 and a fifty-two week high of $159.10. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of 18.09 and a beta of 0.42. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.03. The firm has a fifty day moving average price of $151.72 and a two-hundred day moving average price of $147.51.

Bank First National (NASDAQ:BFC) last released its earnings results on Tuesday, October 20th. The company reported $2.35 earnings per share for the quarter, missing the consensus estimate of $2.60 by ($0.25). Bank First National had a net margin of 27.70% and a return on equity of 12.48%. The firm had revenue of $75.44 million during the quarter, compared to the consensus estimate of $65.80 million. As a group, research analysts anticipate that Bank First National will post 9.94 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BFC. Piper Sandler upped their target price on shares of Bank First National from $157.00 to $161.00 and gave the company a “neutral” rating in a report on Thursday, July 23rd. Weiss Ratings upgraded Bank First National from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday. Finally, Zacks Research cut Bank First National from a “strong-buy” rating to a “hold” rating in a report on Monday, September 14th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $163.00.

About Bank First National

Bank First National, operating as Bank First Corporation (NASDAQ:BFC), is the holding company for Bank First, a community bank headquartered in Manitowoc, Wisconsin. The bank provides banking services to individuals, families, businesses and municipalities through locations across Wisconsin.

Its products and services include checking and savings accounts, certificates of deposit, consumer loans, residential mortgages, commercial real estate and business lending, agricultural loans, treasury management and online and mobile banking.