BofA update shows where active managers are putting money
Investing.com - Piper Sandler has raised its price target on Bank First National Corp. (NASDAQ:BFC) to $137.00 from $115.00, while maintaining a Neutral rating on the stock. The bank, currently trading near its 52-week high of $127.95 and showing impressive returns of 46% over the past year, has caught analysts’ attention. According to InvestingPro analysis, the stock appears overvalued at current levels.
The research firm’s decision comes as Bank First National announced what Piper Sandler described as the "largest deal in its history."
The transaction will expand Bank First National’s geographic footprint, according to Piper Sandler’s analysis of the announcement.
The deal will also add a wealth management business to Bank First National’s existing operations.
Despite the significant price target increase of approximately 19%, Piper Sandler has kept its overall rating on Bank First National stock unchanged at Neutral.
In other recent news, Bank First Corporation has announced a significant move by signing a definitive agreement to acquire Centre 1 Bancorp, Inc. in an all-stock transaction valued at approximately $174.3 million. This acquisition will mark Bank First’s first expansion outside of Wisconsin, extending its reach into southern Wisconsin and northern Illinois markets. Upon completion of the transaction, the combined entity is expected to have around $5.91 billion in total assets, $4.58 billion in loans, and $4.89 billion in deposits, based on financial results as of June 30, 2025. The acquisition is anticipated to close in the first quarter of 2026, pending regulatory and Centre shareholder approvals. First National Bank and Trust, a subsidiary of Centre 1 Bancorp, reported approximately $1.55 billion in consolidated assets, $994.9 million in gross loans, and $1.29 billion in deposits as of June 30, 2025. This merger will bring together two institutions with a strong focus on community banking and a high percentage of deposits in non-interest-bearing checking accounts. Piper Sandler & Co. served as the financial advisor to Bank First, while Hovde Group, LLC advised Centre on the transaction. Following the merger, Centre’s Chairman and CEO, Steve Eldred, will join Bank First’s board of directors.
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