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BFC

Bank FirstNasdaqCM:BFC Stock Report

Market Cap

US$535.8m

7D

-3.7%

1Y

1.3%

Updated

01 Dec, 2021

Data

Company Financials +
BFC fundamental analysis
Snowflake Score
Valuation2/6
Future Growth0/6
Past Performance4/6
Financial Health6/6
Dividends3/6

BFC Stock Overview

Bank First Corporation operates as a holding company for Bank First N.A.

Bank First Competitors

Nicolet Bankshares

NasdaqCM:NCBS

US$852.4m

Horizon Bancorp

NasdaqGS:HBNC

US$844.3m

QCR Holdings

NasdaqGM:QCRH

US$841.3m

Farmers & Merchants Bancorp

OTCPK:FMCB

US$762.0m

Price History & Performance

Summary of all time highs, changes and price drops for Bank First
Historical stock prices
Current Share PriceUS$70.23
52 Week HighUS$77.00
52 Week LowUS$64.01
Beta0.34
1 Month Change-1.07%
3 Month Change-0.31%
1 Year Change1.34%
3 Year Change41.59%
5 Year Change112.82%
Change since IPO384.35%

Recent News & Updates

Shareholder Returns

BFCUS BanksUS Market
7D-3.7%-6.5%-2.8%
1Y1.3%40.6%20.0%

Return vs Industry: BFC underperformed the US Banks industry which returned 40.6% over the past year.

Return vs Market: BFC underperformed the US Market which returned 20% over the past year.

Price Volatility

Is BFC's price volatile compared to industry and market?
BFC volatility
BFC Average Weekly Movement3.1%
Banks Industry Average Movement3.7%
Market Average Movement6.0%
10% most volatile stocks in US Market15.0%
10% least volatile stocks in US Market2.3%

Stable Share Price: BFC is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: BFC's weekly volatility (3%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1894314Mike Molepskehttps://www.bankfirstwi.bank

Bank First Corporation operates as a holding company for Bank First N.A. that provides consumer and commercial financial services to businesses, professionals, and consumers in Wisconsin. The company offers checking, savings, money market, cash management, retirement, and health savings accounts; other time deposits; certificates of deposit; and residential mortgage products. The company’s loan products include real estate loans, including commercial real estate, residential mortgage, and home equity loans; commercial and industrial loans for working capital, accounts receivable, inventory financing, and other business purposes; construction and development loans; residential 1-4 family loans; and consumer loans for personal and household purposes, including secured and unsecured installment loans.

Bank First Fundamentals Summary

How do Bank First's earnings and revenue compare to its market cap?
BFC fundamental statistics
Market CapUS$535.77m
Earnings (TTM)US$45.46m
Revenue (TTM)US$111.73m

11.8x

P/E Ratio

1.7x

P/B Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
BFC income statement (TTM)
RevenueUS$111.73m
Cost of RevenueUS$0
Gross ProfitUS$111.73m
ExpensesUS$66.27m
EarningsUS$45.46m

Last Reported Earnings

Sep 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)5.96
Gross Margin100.00%
Net Profit Margin40.69%
Debt/Equity Ratio14.0%

How did BFC perform over the long term?

See historical performance and comparison

Dividends

1.3%

Current Dividend Yield

14%

Payout Ratio

Does BFC pay a reliable dividends?

See BFC dividend history and benchmarks
When do you need to buy BFC by to receive an upcoming dividend?
Bank First dividend dates
Ex Dividend DateDec 21 2021
Dividend Pay DateJan 05 2022
Days until Ex dividend20 days
Days until Dividend pay date35 days

Does BFC pay a reliable dividends?

See BFC dividend history and benchmarks

Valuation

Is Bank First undervalued compared to its fair value and its price relative to the market?

18.7%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: BFC ($70.23) is trading below our estimate of fair value ($86.38)

Significantly Below Fair Value: BFC is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: BFC is poor value based on its PE Ratio (11.8x) compared to the US Banks industry average (10.5x).

PE vs Market: BFC is good value based on its PE Ratio (11.8x) compared to the US market (16.8x).


Price to Earnings Growth Ratio

PEG Ratio: BFC's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: BFC is overvalued based on its PB Ratio (1.7x) compared to the US Banks industry average (1.1x).


Future Growth

How is Bank First forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

-3.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BFC's earnings are forecast to decline over the next 3 years (-3.5% per year).

Earnings vs Market: BFC's earnings are forecast to decline over the next 3 years (-3.5% per year).

High Growth Earnings: BFC's earnings are forecast to decline over the next 3 years.

Revenue vs Market: BFC's revenue (1% per year) is forecast to grow slower than the US market (10.1% per year).

High Growth Revenue: BFC's revenue (1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: BFC's Return on Equity is forecast to be low in 3 years time (11.7%).


Past Performance

How has Bank First performed over the past 5 years?

24.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: BFC has high quality earnings.

Growing Profit Margin: BFC's current net profit margins (40.7%) are higher than last year (35.7%).


Past Earnings Growth Analysis

Earnings Trend: BFC's earnings have grown significantly by 24.1% per year over the past 5 years.

Accelerating Growth: BFC's earnings growth over the past year (34.8%) exceeds its 5-year average (24.1% per year).

Earnings vs Industry: BFC earnings growth over the past year (34.8%) underperformed the Banks industry 43%.


Return on Equity

High ROE: BFC's Return on Equity (14.5%) is considered low.


Financial Health

How is Bank First's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: BFC's Assets to Equity ratio (9x) is low.

Allowance for Bad Loans: BFC has a sufficient allowance for bad loans (171%).

Low Risk Liabilities: 98% of BFC's liabilities are made up of primarily low risk sources of funding.

Loan Level: BFC has an appropriate level of Loans to Assets ratio (77%).

Low Risk Deposits: BFC's Loans to Deposits ratio (89%) is appropriate.

Level of Bad Loans: BFC has an appropriate level of bad loans (0.5%).


Dividend

What is Bank First current dividend yield, its reliability and sustainability?

1.25%

Current Dividend Yield


Upcoming Dividend Payment

TodayDec 01 2021Ex Dividend DateDec 21 2021Dividend Pay DateJan 05 202215 days from Ex DividendBuy in the next 20 days to receive the upcoming dividend

Dividend Yield vs Market

Notable Dividend: BFC's dividend (1.25%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.35%).

High Dividend: BFC's dividend (1.25%) is low compared to the top 25% of dividend payers in the US market (3.63%).


Stability and Growth of Payments

Stable Dividend: BFC's dividend payments have been volatile in the past 10 years.

Growing Dividend: BFC's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (14.1%), BFC's dividend payments are thoroughly covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: BFC's dividends in 3 years are forecast to be well covered by earnings (17.2% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

2.5yrs

Average management tenure


CEO

Mike Molepske (60 yo)

12.92yrs

Tenure

US$1,261,298

Compensation

Mr. Michael B. Molepske, also known as Mike, is President and Chief Executive Officer of Bank First Corporation (formerly known as Bank First National Corporation) and Bank First, National Association in M...


CEO Compensation Analysis

Compensation vs Market: Mike's total compensation ($USD1.26M) is about average for companies of similar size in the US market ($USD1.75M).

Compensation vs Earnings: Mike's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: BFC's management team is considered experienced (2.5 years average tenure).


Board Members

Experienced Board: BFC's board of directors are considered experienced (5.5 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Bank First Corporation's employee growth, exchange listings and data sources


Key Information

  • Name: Bank First Corporation
  • Ticker: BFC
  • Exchange: NasdaqCM
  • Founded: 1894
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$535.773m
  • Shares outstanding: 7.63m
  • Website: https://www.bankfirstwi.bank

Number of Employees


Location

  • Bank First Corporation
  • 402 North 8th Street
  • Manitowoc
  • Wisconsin
  • 54220
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/12/01 00:03
End of Day Share Price2021/11/30 00:00
Earnings2021/09/30
Annual Earnings2020/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.