Northern Trust Corp Increases Stake in Bank First Co. (NASDAQ:BFC)

Northern Trust Corp lifted its stake in Bank First Co. (NASDAQ:BFC) by 5.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 95,639 shares of the company’s stock after buying an additional 5,098 shares during the quarter. Northern Trust Corp owned approximately 0.96% of Bank First worth $9,477,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Bank First by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 518,341 shares of the company’s stock valued at $51,362,000 after purchasing an additional 10,789 shares in the last quarter. Merit Financial Group LLC grew its holdings in Bank First by 88.7% during the 4th quarter. Merit Financial Group LLC now owns 179,814 shares of the company’s stock valued at $17,818,000 after buying an additional 84,524 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Bank First by 0.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 75,563 shares of the company’s stock worth $7,488,000 after acquiring an additional 693 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Bank First by 42.4% during the 4th quarter. American Century Companies Inc. now owns 63,294 shares of the company’s stock worth $6,272,000 after acquiring an additional 18,861 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Bank First by 103.2% during the 4th quarter. JPMorgan Chase & Co. now owns 48,500 shares of the company’s stock worth $4,806,000 after acquiring an additional 24,635 shares in the last quarter. Institutional investors own 29.95% of the company’s stock.

Bank First Price Performance

Shares of BFC stock opened at $116.25 on Friday. The company has a market capitalization of $1.16 billion, a P/E ratio of 17.88 and a beta of 0.42. The company’s 50-day simple moving average is $105.94 and its two-hundred day simple moving average is $103.40. Bank First Co. has a one year low of $77.00 and a one year high of $119.04. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.00 and a quick ratio of 1.00.

Bank First (NASDAQ:BFC) last released its quarterly earnings data on Tuesday, April 15th. The company reported $1.82 EPS for the quarter, topping 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 company had revenue of $43.10 million for the quarter, compared to the consensus estimate of $41.80 million. As a group, equities analysts anticipate that Bank First Co. will post 6.9 EPS for the current year.

Bank First Increases Dividend

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

Insider Activity

In other Bank First news, Director Michael S. Stayer-Suprick bought 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were purchased at an average cost of $102.07 per share, for a total transaction of $102,070.00. Following the purchase, the director now directly owns 3,035 shares in the company, valued at $309,782.45. This represents a 49.14% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Daniel C. Mcconeghy bought 380 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average cost 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 in the company, valued at $211,440. This trade represents a 23.46% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 4.10% of the company’s stock.

Analyst Ratings Changes

BFC has been the topic of several recent research reports. Piper Sandler upped their target price on shares of Bank First from $110.00 to $111.00 and gave the company a “neutral” rating in a research report on Thursday, April 17th. Hovde Group raised Bank First from a “market perform” rating to an “outperform” rating and set a $130.00 price objective on the stock in a research note on Tuesday, May 6th.

Bank First 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.