Wells Fargo & Company MN Raises Position in Bank First Co. (NASDAQ:BFC)

Wells Fargo & Company MN raised its holdings in shares of Bank First Co. (NASDAQ:BFC) by 26.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,697 shares of the company’s stock after buying an additional 1,191 shares during the period. Wells Fargo & Company MN owned about 0.06% of Bank First worth $565,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. KLP Kapitalforvaltning AS purchased a new stake in Bank First during the 4th quarter valued at about $189,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Bank First during the 4th quarter valued at $277,000. Raymond James Financial Inc. bought a new stake in Bank First in the 4th quarter worth $287,000. ExodusPoint Capital Management LP grew its holdings in Bank First by 8.6% in the 4th quarter. ExodusPoint Capital Management LP now owns 3,456 shares of the company’s stock worth $342,000 after acquiring an additional 273 shares during the last quarter. Finally, Heck Capital Advisors LLC purchased a new position in shares of Bank First in the fourth quarter valued at about $349,000. 29.95% of the stock is owned by institutional investors.

Bank First Stock Performance

Bank First stock opened at $112.80 on Friday. Bank First Co. has a fifty-two week low of $77.00 and a fifty-two week high of $113.73. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of 17.35 and a beta of 0.31. The stock’s 50 day simple moving average is $103.39 and its two-hundred day simple moving average is $101.80. 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 (NASDAQ:BFC) last issued its quarterly earnings results on Tuesday, April 15th. The company reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.20. The company had revenue of $43.10 million for 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%. As a group, analysts expect that Bank First Co. will post 6.9 earnings per share for the current fiscal year.

Bank First Increases Dividend

The firm also recently declared a dividend, which will be paid on Friday, May 16th. Investors of record on Friday, May 9th will be paid a $3.50 dividend. This is a positive change from Bank First’s previous dividend of $0.20. The ex-dividend date is Friday, May 9th. Bank First’s dividend payout ratio (DPR) is presently 26.43%.

Insider Activity at Bank First

In related news, Director Michael S. Stayer-Suprick bought 1,000 shares of the business’s stock in a transaction dated 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 completion of the purchase, the director now owns 3,035 shares in the company, valued at approximately $309,782.45. The trade was a 49.14 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Daniel C. Mcconeghy purchased 380 shares of Bank First stock in a transaction dated Tuesday, March 4th. The shares were bought at an average price of $105.72 per share, with a total value of $40,173.60. Following the completion of the acquisition, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $211,440. This represents a 23.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 4.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Separately, Piper Sandler raised 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.

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.