Rafferty Asset Management LLC Invests $2.99 Million in Bank First National Corporation $BFC

Rafferty Asset Management LLC purchased a new stake in shares of Bank First National Corporation (NASDAQ:BFC) during the 3rd quarter, HoldingsChannel.com reports. The fund purchased 24,670 shares of the company’s stock, valued at approximately $2,993,000.

Other hedge funds also recently added to or reduced their stakes in the company. Quantbot Technologies LP bought a new position in Bank First National during the 3rd quarter worth about $713,000. Citigroup Inc. lifted its position in shares of Bank First National by 299.4% in the 3rd quarter. Citigroup Inc. now owns 17,151 shares of the company’s stock worth $2,081,000 after purchasing an additional 12,857 shares during the period. Vanguard Group Inc. boosted its stake in shares of Bank First National by 0.5% during the third quarter. Vanguard Group Inc. now owns 588,765 shares of the company’s stock valued at $71,423,000 after purchasing an additional 2,862 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Bank First National by 87.0% during the third quarter. JPMorgan Chase & Co. now owns 26,452 shares of the company’s stock valued at $3,209,000 after buying an additional 12,306 shares during the period. Finally, Principal Financial Group Inc. bought a new position in Bank First National in the third quarter worth approximately $2,495,000. 29.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Bank First National

In related news, Director Steven M. Eldred sold 8,000 shares of the firm’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $151.95, for a total value of $1,215,600.00. Following the completion of the transaction, the director owned 125,680 shares in the company, valued at $19,097,076. This trade represents a 5.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 3.42% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Scotiabank raised Bank First National to a “sector outperform” rating in a research report on Monday, January 26th. Piper Sandler raised their price objective on Bank First National from $142.00 to $150.00 and gave the company a “neutral” rating in a research report on Monday, January 26th. Zacks Research upgraded shares of Bank First National from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 27th. Wall Street Zen lowered shares of Bank First National from a “hold” rating to a “sell” rating in a research report on Saturday, February 14th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Bank First National in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $150.00.

Bank First National Trading Up 0.8%

Bank First National stock opened at $139.14 on Thursday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.99 and a current ratio of 1.00. The stock has a market cap of $1.56 billion, a PE ratio of 19.24 and a beta of 0.43. The stock has a 50-day moving average of $135.78 and a two-hundred day moving average of $130.24. Bank First National Corporation has a one year low of $93.00 and a one year high of $152.99.

Bank First National (NASDAQ:BFC) last issued its quarterly earnings results on Thursday, January 22nd. The company reported $2.00 earnings per share for the quarter, topping analysts’ consensus estimates of $1.75 by $0.25. The business had revenue of $49.68 million for the quarter, compared to analyst estimates of $43.75 million. Bank First National had a return on equity of 11.61% and a net margin of 29.31%. On average, research analysts anticipate that Bank First National Corporation will post 6.9 EPS for the current fiscal year.

Bank First National Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 8th. Shareholders of record on Wednesday, March 25th will be issued a $0.50 dividend. This is an increase from Bank First National’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Wednesday, March 25th. Bank First National’s dividend payout ratio is 24.90%.

Bank First National Profile

Bank First National Corporation (NASDAQ: BFC) is the bank holding company for Bank First National, a community bank headquartered in Princeton, Wisconsin. The company offers a comprehensive suite of financial services designed to meet the needs of individuals, families, small businesses and agricultural clients. Through its branch network and digital channels, Bank First National provides deposit accounts, consumer and commercial lending, mortgage financing and treasury management solutions.

The bank’s core deposit products include checking and savings accounts, money market funds and certificates of deposit, complemented by online and mobile banking platforms that enable customers to manage their finances remotely.