Bank First National (BFC) AI Stock Analysis

• Market Cap: $1.33B
• Dividend Yield: 3.9%
• Average Volume (3M): 101.50K
• Price to Earnings (P/E): 19.1
• Beta (1Y): 0.84
• Revenue Growth: 14.13%
• EPS Growth: -12.75%
• Country: US
• Employees: 362
• Sector: Financial
• Sector Strength: 70
• Industry: Banks - Regional
• EPS (TTM): 1.91
• Shares Outstanding: 9,835,013
• 10 Day Avg. Volume: 100,754
• 30 Day Avg. Volume: 101,498
• PEG Ratio: -1.41
• Price to Book (P/B): 1.55
• Price to Sales (P/S): 4.45
• P/FCF Ratio: 16.95
• Enterprise Value/Market Cap: 0.90
• Enterprise Value/Revenue: 5.09
• Enterprise Value/Gross Profit: 7.36
• Enterprise Value/Ebitda: 12.87
• 1Y Price Target: $142.00
• Price Target Upside: 4.37% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 74 Outperform
• Price Target: $146.00 ▲(7.31% Upside)

Bank First National's strong financial performance and positive technical indicators are the primary drivers of its stock score. The solid dividend yield adds to its attractiveness, though the valuation is not particularly cheap. The recent board appointment is a positive corporate event, but its impact is not included in the score calculation.

Positive Factors

Revenue Growth

Consistent revenue growth indicates robust demand for BFC's services, suggesting a stable and expanding market presence that supports long-term business sustainability.

Board Appointment

The addition of an experienced board member strengthens governance and strategic oversight, potentially leading to improved decision-making and shareholder value.

Profitability Margins

Strong profitability margins reflect efficient operations and cost management, providing a buffer against economic fluctuations and supporting sustained profitability.

Negative Factors

Free Cash Flow Challenges

Negative free cash flow growth indicates potential liquidity issues, which could impact the company's ability to invest in growth opportunities and meet financial obligations.

Decline in Gross Profit Margin

A declining gross profit margin may signal rising costs or pricing pressures, which could erode profitability if not managed effectively.

Pressure on Free Cash Flow

Ongoing pressure on free cash flow can limit financial flexibility, affecting the company's ability to fund operations and strategic initiatives.

Bank First National Business Overview & Revenue Model

Company Description

Bank First National (BFC) is a community-focused financial institution headquartered in the United States, specializing in providing a range of banking services to individuals, businesses, and municipalities. The bank operates primarily in the commercial banking sector, offering core products such as personal and business checking accounts, savings accounts, loans, mortgages, and investment services. BFC is committed to serving its local communities, fostering relationships, and supporting economic growth through its various financial solutions.

How the Company Makes Money

Bank First National generates revenue primarily through interest income from loans and mortgages, which constitutes a significant portion of its earnings. The bank lends money to individuals and businesses at interest rates higher than the rates it pays on deposits, capturing the spread between these rates. Additionally, BFC earns non-interest income through fees associated with account services, ATM transactions, and various financial products. The bank also engages in investment activities, contributing to its revenue through interest and gains from securities. Strategic partnerships with local businesses and community organizations enhance its service offerings and customer base, further boosting its financial performance.

Bank First National Financial Statement Overview

Summary

Bank First National demonstrates strong financial health with consistent revenue growth and solid profitability margins. The balance sheet is stable with low leverage, but there are signs of pressure on free cash flow. Continued focus on cost management and cash flow optimization will be crucial for sustaining growth.

Income Statement

Bank First National shows a strong financial performance with consistent revenue growth, highlighted by a TTM revenue growth rate of 1.82%. The gross profit margin remains robust at 69.25%, and the net profit margin is healthy at 29.43%. EBIT and EBITDA margins are also strong, indicating efficient operations. However, the slight decline in gross profit margin over time suggests potential cost pressures.

Balance Sheet

The balance sheet is solid with a low debt-to-equity ratio of 0.18, indicating conservative leverage. Return on equity is decent at 10.94%, reflecting effective use of equity. The equity ratio stands at 14.03%, which is stable but suggests room for improvement in asset utilization.

Cash Flow

Cash flow analysis reveals a mixed picture. While the operating cash flow to net income ratio is strong at 1.58, indicating good cash generation, the free cash flow growth rate is negative at -8.85%, suggesting recent challenges in maintaining free cash flow levels. The free cash flow to net income ratio remains healthy at 0.84.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	235.19M	223.24M	186.47M	130.77M	116.78M	117.02M
Gross Profit	162.87M	155.44M	132.79M	116.12M	105.38M	96.03M
EBITDA	93.07M	87.56M	107.19M	63.61M	63.15M	53.05M
Net Income	69.21M	65.56M	74.51M	45.21M	45.44M	38.05M
Balance Sheet
Total Assets	4.37B	4.50B	4.22B	3.66B	2.94B	2.72B
Cash, Cash Equivalents and Short-Term Investments	287.54M	414.29M	407.44M	424.38M	509.55M	335.26M
Total Debt	121.92M	147.37M	127.14M	122.63M	66.63M	77.35M
Total Liabilities	3.75B	3.86B	3.60B	3.21B	2.61B	2.42B
Stockholders Equity	612.33M	639.68M	619.80M	453.10M	322.65M	294.86M
Cash Flow
Free Cash Flow	56.59M	58.62M	39.46M	33.14M	31.57M	35.59M
Operating Cash Flow	67.61M	65.85M	52.95M	40.01M	40.28M	43.96M
Investing Cash Flow	-185.89M	-252.94M	269.00M	-177.81M	-93.89M	-206.03M
Financing Cash Flow	139.66M	200.95M	-193.82M	-39.71M	180.24M	245.83M

Bank First National Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 136.06
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BFC, the sentiment is Positive. The current price of 136.06 is above the 20-day moving average (MA) of 128.92, above the 50-day MA of 127.17, and above the 200-day MA of 117.73, indicating a bullish trend. The MACD of 2.88 indicates Negative momentum. The RSI at 65.88 is Neutral, neither overbought nor oversold. The STOCH value of 70.36 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BFC.

Bank First National Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
PFBC	80 Outperform	$1.34B	10.12	16.91%	2.99%	-3.05%	-0.51%
RBCAA	79 Outperform	$1.29B	11.45	12.35%	2.42%	5.21%	24.51%
BY	78 Outperform	$1.41B	10.96	10.78%	1.30%	1.31%	2.02%
WABC	77 Outperform	$1.24B	10.83	13.05%	3.58%	-13.17%	-16.37%
BFC	74 Outperform	$1.33B	19.06	11.18%	3.90%	14.13%	-12.75%
CNOB	71 Outperform	$1.40B	22.49	4.40%	2.59%	15.55%	-28.10%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%

Bank First National Corporate Events

Bank First National Appoints Todd Sprang to Board

On October 21, 2025, Bank First Corporation announced the election of Todd A. Sprang to its Board of Directors. Sprang brings over 35 years of experience in the financial services industry, having served in leadership roles at prominent public accounting firms. His appointment is expected to enhance board discussions, fiscal oversight, and contribute to long-term value creation for shareholders. Sprang will also join the Bank’s Audit Committee, reinforcing the Board’s commitment to financial integrity and risk management. This move reflects Bank First’s dedication to thoughtful leadership and continued growth, aiming to deliver lasting value to its stakeholders.