Bank of Montreal Can Cuts Stock Holdings in Bank First Co. (NASDAQ:BFC)

Bank of Montreal Can cut its stake in Bank First Co. (NASDAQ:BFC) by 1.1% in the 3rd quarter, Holdings Channel reports. The fund owned 103,690 shares of the company’s stock after selling 1,200 shares during the quarter. Bank of Montreal Can’s holdings in Bank First were worth $9,145,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Arizona State Retirement System grew its position in Bank First by 5.5% during the 2nd quarter. Arizona State Retirement System now owns 2,554 shares of the company’s stock worth $211,000 after acquiring an additional 133 shares during the last quarter. Harbour Investments Inc. grew its holdings in shares of Bank First by 6.3% in the second quarter. Harbour Investments Inc. now owns 4,250 shares of the company’s stock worth $351,000 after purchasing an additional 250 shares during the last quarter. Linden Thomas Advisory Services LLC increased its stake in shares of Bank First by 1.7% in the second quarter. Linden Thomas Advisory Services LLC now owns 17,954 shares of the company’s stock worth $1,483,000 after buying an additional 296 shares during the period. Quest Partners LLC raised its holdings in Bank First by 65,700.0% during the 2nd quarter. Quest Partners LLC now owns 658 shares of the company’s stock valued at $54,000 after buying an additional 657 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in Bank First by 5.5% during the 2nd quarter. Rhumbline Advisers now owns 14,246 shares of the company’s stock valued at $1,177,000 after buying an additional 746 shares during the period. 29.95% of the stock is currently owned by institutional investors.

Bank First Price Performance

BFC opened at $106.87 on Monday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market capitalization of $1.07 billion, a PE ratio of 13.13 and a beta of 0.30. The stock’s 50 day moving average price is $95.84 and its 200-day moving average price is $89.33. Bank First Co. has a 52-week low of $74.90 and a 52-week high of $110.49.

Bank First (NASDAQ:BFC) last issued its quarterly earnings data on Tuesday, October 15th. The company reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.11. Bank First had a net margin of 32.02% and a return on equity of 10.10%. The business had revenue of $58.93 million for the quarter, compared to the consensus estimate of $39.60 million. On average, equities research analysts predict that Bank First Co. will post 6.35 EPS for the current year.

Bank First Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Monday, December 23rd will be paid a $0.45 dividend. This is an increase from Bank First’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date is Monday, December 23rd. Bank First’s dividend payout ratio is presently 22.11%.

Analyst Ratings Changes

Separately, Piper Sandler boosted their price objective on shares of Bank First from $99.00 to $104.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th.

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.