Bank First National Corporation (BFC)
NASDAQ:BFC
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Bank First National
(NASDAQ:BFC)
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Rating:64Neutral
Price Target:
$150.00
â–²(6.48% Upside)
Action:ReiteratedDate:04/23/26
The score is mainly held back by weak latest-year cash flow quality and lower ROE despite strong profitability and a generally conservative balance sheet. Technicals are mildly supportive with neutral momentum, valuation offers limited support due to a modestly high P/E and low yield, while the renewed share repurchase program is a positive secondary tailwind.
Positive Factors
Conservative balance sheet
A more conservative leverage profile and an improving debt-to-equity position enhance resilience to credit stress and rate cycles. This structural strength supports lending capacity, regulatory cushion and strategic optionality for M&A, buybacks or capital return without immediate refinancing pressure.
Negative Factors
Deteriorated cash flow quality
The shift to negative operating and free cash flow in 2025 undermines the sustainability of reported earnings and reduces internally available capital for investments, dividends or repurchases. This creates execution risk and could force reliance on external funding or slower organic growth until cash generation normalizes.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
A more conservative leverage profile and an improving debt-to-equity position enhance resilience to credit stress and rate cycles. This structural strength supports lending capacity, regulatory cushion and strategic optionality for M&A, buybacks or capital return without immediate refinancing pressure.
Read all positive factors
Bank First National (BFC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.63B
Dividend Yield3.99%
Average Volume (3M)101.50K
Price to Earnings (P/E)18.9
Beta (1Y)0.79
Revenue Growth13.74%
EPS Growth5.34%
CountryUS
Employees362
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)2.24
Shares Outstanding11,222,441
10 Day Avg. Volume100,754
30 Day Avg. Volume101,498
Financial Highlights & Ratios
PEG Ratio1.49
Price to Book (P/B)1.86
Price to Sales (P/S)4.98
P/FCF Ratio23.47
Enterprise Value/Market Cap0.83
Enterprise Value/Revenue5.62
Enterprise Value/Gross Profit7.99
Enterprise Value/Ebitda14.41
Forecast
1Y Price Target
$157.00Price Target Upside11.45% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)10.28
Revenue Forecast (FY)$269.90M
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...
How the Company Makes Money
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Bank First National Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
74
Positive
Cash Flow
38
Negative
| 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
Positive
140.87
Price Trends
138.99
Positive
134.47
Positive
129.15
Positive
Market Momentum
1.80
Negative
56.23
Neutral
60.49
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 140.87 is above the 20-day moving average (MA) of 137.51, above the 50-day MA of 138.99, and above the 200-day MA of 129.15, indicating a bullish trend. The MACD of 1.80 indicates Negative momentum. The RSI at 56.23 is Neutral, neither overbought nor oversold. The STOCH value of 60.49 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BFC.
Bank First National Risk Analysis
Bank First National disclosed 41 risk factors in its most recent earnings report. Bank First National reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Bank First National Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $1.33B | 11.58 | 12.26% | 3.70% | -11.52% | -10.26% | |
75 Outperform | $1.26B | 8.81 | 17.48% | 2.99% | -0.42% | 14.20% | |
73 Outperform | $1.31B | 8.20 | 12.27% | 2.57% | -2.39% | 6.90% | |
70 Outperform | $1.46B | 8.92 | 6.32% | 2.68% | 39.87% | -5.48% | |
70 Outperform | $1.55B | 9.42 | 11.20% | 1.34% | 2.93% | 13.80% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
64 Neutral | $1.63B | 18.95 | 10.83% | 3.99% | 13.74% | 5.34% |
* Financial Sector Average
BFC
Bank First National
144.81
40.44
38.74%
PFBC
Preferred Bank
93.82
16.59
21.49%
RBCAA
Republic Bancorp
74.96
8.84
13.36%
WABC
Westamerica Bancorporation
54.83
8.20
17.59%
CNOB
ConnectOne Bancorp
29.04
7.15
32.66%
BY
Byline Bancorp
32.40
7.24
28.80%
Bank First National Corporate Events
Business Operations and StrategyStock Buyback
Bank First Renews Two-Year $60 Million Share Repurchase
Positive
Apr 22, 2026
On April 21, 2026, Bank First Corporation renewed its share repurchase program, authorizing the buyback of up to $60 million of its common stock per year for two years, through April 20, 2028. The company may execute the repurchases in the open ma...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.