Merit Financial Group LLC Buys 84,524 Shares of Bank First Co. (NASDAQ:BFC)

Merit Financial Group LLC raised its stake in Bank First Co. (NASDAQ:BFC) by 88.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 179,814 shares of the company’s stock after buying an additional 84,524 shares during the period. Merit Financial Group LLC’s holdings in Bank First were worth $17,818,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Stifel Financial Corp raised its holdings 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 buying an additional 7,336 shares in the last quarter. American Century Companies Inc. grew its position in Bank First by 167.3% during the second quarter. American Century Companies Inc. now owns 37,873 shares of the company’s stock valued at $3,128,000 after acquiring an additional 23,705 shares during the last quarter. State Street Corp raised its stake in shares of Bank First by 3.4% during the third quarter. State Street Corp now owns 238,225 shares of the company’s stock worth $21,701,000 after acquiring an additional 7,822 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Bank First by 3.7% in the 3rd 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 last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Bank First by 6.4% in the 3rd 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. Hedge funds and other institutional investors own 29.95% of the company’s stock.

Bank First Trading Up 1.4 %

NASDAQ BFC opened at $98.94 on Friday. The firm has a market cap of $990.59 million, a PE ratio of 12.15 and a beta of 0.35. Bank First Co. has a 1-year low of $74.90 and a 1-year high of $110.49. The stock has a 50-day moving average of $102.49 and a 200-day moving average of $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 (NASDAQ:BFC) last announced its quarterly earnings data on Tuesday, October 15th. The company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.11. Bank First had a return on equity of 10.10% and a net margin of 32.02%. The firm had revenue of $58.93 million during the quarter, compared to the consensus estimate of $39.60 million. As a group, sell-side analysts forecast that Bank First Co. will post 6.35 EPS for the current year.

Wall Street Analyst Weigh In

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

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.