PNC Financial Services Group Inc. Reduces Stake in Bank First Co. (NASDAQ:BFC)

PNC Financial Services Group Inc. cut its stake in shares of Bank First Co. (NASDAQ:BFC) by 19.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,032 shares of the company’s stock after selling 2,000 shares during the period. PNC Financial Services Group Inc. owned 0.08% of Bank First worth $696,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Bank First by 1.0% during the third quarter. Vanguard Group Inc. now owns 510,701 shares of the company’s stock valued at $39,401,000 after buying an additional 5,182 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Bank First by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 68,545 shares of the company’s stock worth $5,940,000 after acquiring an additional 1,007 shares in the last quarter. Swiss National Bank raised its holdings in shares of Bank First by 6.6% in the 3rd quarter. Swiss National Bank now owns 19,417 shares of the company’s stock valued at $1,498,000 after purchasing an additional 1,200 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its position in shares of Bank First by 21.4% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 19,318 shares of the company’s stock worth $1,674,000 after purchasing an additional 3,399 shares during the period. Finally, Beacon Pointe Advisors LLC boosted its stake in shares of Bank First by 7.8% during the fourth quarter. Beacon Pointe Advisors LLC now owns 17,077 shares of the company’s stock valued at $1,480,000 after purchasing an additional 1,231 shares in the last quarter. Institutional investors own 29.95% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on BFC. Hovde Group lowered Bank First from an “outperform” rating to a “market perform” rating in a report on Monday, March 4th. Piper Sandler cut their target price on Bank First from $90.00 to $87.00 and set a “neutral” rating on the stock in a research note on Thursday, April 18th.

Bank First Stock Down 1.3 %

BFC stock opened at $78.81 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.02. Bank First Co. has a 52 week low of $70.00 and a 52 week high of $92.50. The stock has a market capitalization of $794.40 million, a PE ratio of 10.24 and a beta of 0.33. The firm has a 50 day moving average of $80.59 and a 200 day moving average of $83.31.

Bank First (NASDAQ:BFC) last released its earnings results on Tuesday, April 16th. The company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.02. Bank First had a return on equity of 10.08% and a net margin of 32.08%. The firm had revenue of $37.75 million during the quarter, compared to the consensus estimate of $40.00 million. Sell-side analysts forecast that Bank First Co. will post 5.86 earnings per share for the current year.

Bank First Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Wednesday, June 26th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, June 26th. This represents a $1.40 dividend on an annualized basis and a yield of 1.78%. Bank First’s dividend payout ratio is presently 18.18%.

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.