Bank First (NASDAQ:BFC) Sees Strong Trading Volume on Strong Earnings

Bank First Co. (NASDAQ:BFC - Get Free Report) saw an uptick in trading volume on Tuesday following a better than expected earnings announcement. 21,453 shares were traded during trading, an increase of 4% from the previous session's volume of 20,536 shares.The stock last traded at $100.03 and had previously closed at $99.13.

The company reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.20. Bank First had a return on equity of 10.53% and a net margin of 29.00%. The business had revenue of $43.10 million during the quarter, compared to analyst estimates of $41.80 million.

Bank First Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 25th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend is Wednesday, June 25th. Bank First's dividend payout ratio (DPR) is presently 26.43%.

Wall Street Analyst Weigh In

Separately, Piper Sandler raised their price objective on shares of Bank First from $110.00 to $111.00 and gave the company a "neutral" rating in a research report on Thursday.

Insiders Place Their Bets

In related news, Director Daniel C. Mcconeghy acquired 380 shares of the stock in a transaction on Tuesday, March 4th. The stock was purchased at an average price of $105.72 per share, for a total transaction of $40,173.60. Following the completion of the transaction, the director now owns 2,000 shares of the company's stock, valued at $211,440. This trade represents a 23.46 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael S. Stayer-Suprick purchased 1,000 shares of the company's stock in a transaction on Wednesday, February 19th. The shares were purchased at an average cost of $102.07 per share, with a total value of $102,070.00. Following the transaction, the director now directly owns 3,035 shares in the company, valued at $309,782.45. This trade represents a 49.14 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 4.10% of the company's stock.

Institutional Trading of Bank First

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp boosted its position in shares of Bank First by 3.4% during the third quarter. State Street Corp now owns 238,225 shares of the company's stock valued at $21,701,000 after purchasing an additional 7,822 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Bank First by 130.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 23,865 shares of the company's stock worth $2,165,000 after purchasing an additional 13,502 shares in the last quarter. Geode Capital Management LLC grew its position in Bank First by 3.7% during the 3rd quarter. Geode Capital Management LLC now owns 222,204 shares of the company's stock valued at $20,158,000 after purchasing an additional 7,922 shares during the last quarter. Merit Financial Group LLC raised its holdings in Bank First by 88.7% in the fourth quarter. Merit Financial Group LLC now owns 179,814 shares of the company's stock worth $17,818,000 after buying an additional 84,524 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its holdings in Bank First by 2.3% in the 4th quarter. Commonwealth Equity Services LLC now owns 4,731 shares of the company's stock worth $469,000 after acquiring an additional 105 shares during the last quarter. Hedge funds and other institutional investors own 29.95% of the company's stock.

Bank First Price Performance

The firm has a market capitalization of $1.06 billion, a P/E ratio of 16.35 and a beta of 0.31. The firm has a 50-day moving average of $101.78 and a 200-day moving average of $100.33. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.00 and a current ratio of 1.00.

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.