Bank First National Corporation (NASDAQ:BFC) stock has reached a new 52-week high, trading at $98.5. This milestone reflects a significant uptrend for the company, marking a notable achievement in its financial performance over the past year. Investors have shown increased confidence in Bank First National, as evidenced by the stock's impressive 1-year change, which stands at a robust 16.03%. The surge to a 52-week high indicates a strong market sentiment and positions the company favorably among its peers in the banking sector.
In other recent news, Bank First National Corp. showed a strong performance in the third quarter, with a 4% pre-provision net revenue beat, core net interest margin expansion, and steady mid-single-digit loan growth, according to Piper Sandler. The firm also highlighted the bank's stable credit quality and projected that it will sustain above-average profitability. Bank First National Corp. is also expected to enhance its profitability and earnings per share growth through potential mergers and acquisitions.
In addition, Piper Sandler adjusted the price target for Bank First National Corp. to $104 from $99, maintaining its Neutral rating on the stock. The analyst raised the 2024 and 2025 operating EPS forecasts by 4% and 8% to $6.35 and $6.70, respectively, and introduced a 2026 estimate of $7.15.
Furthermore, the company released its quarterly shareholder newsletter, providing updates on its operations and performance. These updates are part of recent developments surrounding Bank First National Corp. It's important to note that Piper Sandler's neutral rating is due to Bank First's premium valuation and positive prospects for future acquisitions.
InvestingPro Insights
Bank First National Corporation's (BFC) recent achievement of a new 52-week high is further supported by several key financial metrics and insights from InvestingPro. The company's stock is currently trading at a P/E ratio of 11.49, which is relatively low compared to its near-term earnings growth potential, as highlighted by one of the InvestingPro Tips. This suggests that the stock may still be undervalued despite its recent price surge.
Additionally, BFC has demonstrated strong financial performance, with a revenue growth of 26.37% over the last twelve months as of Q3 2024. The company's operating income margin stands at an impressive 60.63%, indicating efficient management and robust profitability. These figures align with the InvestingPro Tip that the company is expected to remain profitable this year.
For income-focused investors, it's worth noting that BFC has maintained dividend payments for 15 consecutive years, with a current dividend yield of 1.9%. This track record of consistent dividends, coupled with a significant dividend growth of 50% over the last twelve months, underscores the company's commitment to shareholder returns.
InvestingPro offers additional insights, with 8 more tips available for subscribers who wish to delve deeper into BFC's financial outlook and market position.
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