Merit Financial Group LLC Grows Stock Position in Bank First Co. (NASDAQ:BFC)

Merit Financial Group LLC raised its position in Bank First Co. (NASDAQ:BFC) by 88.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 179,814 shares of the company’s stock after buying an additional 84,524 shares during the quarter. Merit Financial Group LLC owned about 1.80% of Bank First worth $17,818,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp boosted its holdings in Bank First by 3.4% in the 3rd quarter. State Street Corp now owns 238,225 shares of the company’s stock worth $21,701,000 after buying an additional 7,822 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Bank First by 3.7% in the third quarter. Geode Capital Management LLC now owns 222,204 shares of the company’s stock worth $20,158,000 after acquiring an additional 7,922 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Bank First by 6.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 74,870 shares of the company’s stock valued at $6,791,000 after purchasing an additional 4,480 shares in the last quarter. Stifel Financial Corp raised its stake in shares of Bank First by 18.1% during the 3rd quarter. Stifel Financial Corp now owns 47,834 shares of the company’s stock valued at $4,339,000 after purchasing an additional 7,336 shares during the period. Finally, American Century Companies Inc. lifted its holdings in Bank First by 167.3% during the 2nd quarter. American Century Companies Inc. now owns 37,873 shares of the company’s stock worth $3,128,000 after purchasing an additional 23,705 shares in the last quarter. Hedge funds and other institutional investors own 29.95% of the company’s stock.

Analyst Upgrades and Downgrades

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

Bank First Stock Performance

Bank First stock opened at $98.94 on Friday. The firm’s 50 day simple moving average is $102.49 and its 200 day simple moving average is $94.20. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.02. Bank First Co. has a 1-year low of $74.90 and a 1-year high of $110.49. The firm has a market capitalization of $990.59 million, a PE ratio of 12.15 and a beta of 0.35.

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, topping analysts’ consensus estimates of $1.54 by $0.11. Bank First had a return on equity of 10.10% and a net margin of 32.02%. The company had revenue of $58.93 million for the quarter, compared to the consensus estimate of $39.60 million. As a group, analysts expect that Bank First Co. will post 6.35 earnings per share for the current fiscal year.

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.