Bank First price target raised to $111 from $110 at Piper Sandler

Piper Sandler raised the firm’s price target on Bank First (BFC) to $111 from $110 and keeps a Neutral rating on the shares. The firm notes Bank First again generated strong results in Q1, with 5% PPNR upside via solid balance sheet growth and higher core fee income. Piper believes Bank First is an attractive long-term holding as profitability is likely to remain far superior to peers.