Bank First National (BFC) AI Stock Analysis

• Market Cap: $1.55B
• Dividend Yield: 3.99%
• Average Volume (3M): 101.50K
• Price to Earnings (P/E): 16.8
• 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): 2.00
• Shares Outstanding: 11,201,677
• 10 Day Avg. Volume: 100,754
• 30 Day Avg. Volume: 101,498
• PEG Ratio: 1.49
• Price to Book (P/B): 1.86
• Price to Sales (P/S): 4.98
• P/FCF Ratio: 23.47
• Enterprise Value/Market Cap: 1.04
• Enterprise Value/Revenue: 6.75
• Enterprise Value/Gross Profit: 9.59
• Enterprise Value/Ebitda: 17.30
• 1Y Price Target: $150.00
• Price Target Upside: 8.10% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1
• EPS Forecast (FY): 10.28
• Revenue Forecast (FY): $269.90M

• Rating: 65 Neutral
• Price Target: $145.00 ▲(4.50% Upside)
• Action: Downgraded Date: 02/28/26
• Date: Action: Downgraded 02/28/26

The score is primarily held back by the latest-year cash flow deterioration and reduced capital efficiency (ROE decline) despite strong reported profitability and conservative leverage. Valuation is supported by a strong dividend yield and a reasonable P/E, while technicals suggest near-term weakness/oversold conditions. Recent corporate events are constructive (completed merger and governance additions), but integration execution remains a key watch item.

Positive Factors

Strong Profitability & Margins

Bank First reported high net margins (~29.7% in 2025), indicating durable profitability and operating leverage in core banking activities. Sustained margins support internal capital build, dividend capacity, and the ability to absorb credit volatility, underpinning long-term earnings resilience.

Negative Factors

Deteriorated Operating & Free Cash Flow

A shift to negative operating and free cash flow in 2025 is a structural concern: earnings are not translating into cash, reducing financial flexibility. Persistent cash deficits could constrain dividend coverage, capital deployment, or require external funding, elevating execution risk over months.

Bank First National Business Overview & Revenue Model

Company Description

Bank First Corporation operates as a holding company for Bank First N.A. that provides consumer and commercial financial services to businesses, professionals, consumers, associations, individuals, and governmental authorities in Wisconsin. The co...

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Bank First Corporation operates as a holding company for Bank First N.A. that provides consumer and commercial financial services to businesses, professionals, consumers, associations, individuals, and governmental authorities in Wisconsin. The co...

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 i...

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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 i...

Bank First National Financial Statement Overview

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	240.45M	223.24M	186.47M	130.77M	116.78M
Gross Profit	169.14M	155.44M	132.79M	116.12M	105.38M
EBITDA	93.76M	87.56M	107.19M	63.61M	63.15M
Net Income	71.50M	65.56M	74.51M	45.21M	45.44M
Balance Sheet
Total Assets	4.52B	4.50B	4.22B	3.66B	2.94B
Cash, Cash Equivalents and Short-Term Investments	55.34M	414.29M	407.44M	424.38M	509.55M
Total Debt	123.55M	147.37M	127.14M	122.63M	66.63M
Total Liabilities	3.88B	3.86B	3.60B	3.21B	2.61B
Stockholders Equity	643.84M	639.68M	619.80M	453.10M	322.65M
Cash Flow
Free Cash Flow	51.04M	58.62M	39.46M	33.14M	31.57M
Operating Cash Flow	62.48M	65.85M	52.95M	40.01M	40.28M
Investing Cash Flow	-15.97M	-252.94M	269.00M	-177.81M	-93.89M
Financing Cash Flow	-64.64M	200.95M	-193.82M	-39.71M	180.24M

Bank First National Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 138.76
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

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 138.76 is above the 20-day moving average (MA) of 134.28, above the 50-day MA of 138.74, and above the 200-day MA of 128.04, indicating a bullish trend. The MACD of -0.08 indicates Negative momentum. The RSI at 58.66 is Neutral, neither overbought nor oversold. The STOCH value of 91.50 is Negative, 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	72 Outperform	$1.22B	8.90	16.91%	2.99%	-3.05%	-0.51%
WABC	71 Outperform	$1.28B	10.23	12.53%	3.70%	-13.17%	-16.37%
RBCAA	69 Neutral	$1.26B	10.37	12.27%	2.57%	5.21%	24.51%
BY	69 Neutral	$1.47B	10.05	10.77%	1.34%	1.31%	2.02%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
BFC	65 Neutral	$1.55B	16.76	11.29%	3.99%	14.13%	-12.75%
CNOB	64 Neutral	$1.38B	8.36	5.49%	2.68%	15.55%	-28.10%

Bank First National Corporate Events