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Bank First National
(NASDAQ:BFC)
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Rating:77Outperform
Price Target:
$174.00
â–²(15.40% Upside)
Action:Reiterated
Date:08/08/26
BFC scores well primarily on strong financial performance (profitability, growth, and low leverage) and supportive technicals with the stock trading above major moving averages. The score is tempered by only average valuation (P/E ~19.86 and ~1.28% yield) and some cash-flow variability; corporate events are a modest positive but add execution risk via the pending acquisition.
Positive Factors
Strong Profitability and Revenue Growth
TTM revenue rose 10.31% and net income reached $81.1M, while net and EBITDA margins were about 27.8% and 36.9%. This indicates durable earnings capacity and a solid operating base, despite some margin normalization.
Negative Factors
Inconsistent Operating Cash Flow
Positive free cash flow and strong conversion are encouraging, but the decline in operating cash flow and inconsistent coverage metrics indicate uneven cash generation. Persistent volatility could constrain reinvestment flexibility and reduce earnings quality.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Profitability and Revenue Growth
TTM revenue rose 10.31% and net income reached $81.1M, while net and EBITDA margins were about 27.8% and 36.9%. This indicates durable earnings capacity and a solid operating base, despite some margin normalization.
Read all positive factors
Bank First National (BFC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.69B
Dividend Yield1.27%
Average Volume (3M)101.50K
Price to Earnings (P/E)20.0
Beta (1Y)0.75
Revenue Growth23.23%
EPS Growth11.02%
CountryUS
Employees380
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)7.69
Shares Outstanding11,085,607
10 Day Avg. Volume100,754
30 Day Avg. Volume101,498
Financial Highlights & Ratios
PEG Ratio1.50
Price to Book (P/B)1.86
Price to Sales (P/S)4.98
P/FCF Ratio23.47
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$161.00Price Target Upside6.78% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)9.95
Revenue Forecast (FY)$263.40M
Bank First National Business Overview & Revenue Model
Company Description
Bank First Corporation, established in 1894 and headquartered in Manitowoc, Wisconsin, functions as the parent entity for Bank First N.A. This financial institution delivers a comprehensive array of consumer and commercial financial solutions thro...
How the Company Makes Money
null...
Bank First National Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
88
Very Positive
Cash Flow
72
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 291.54M | 240.45M | 223.24M | 186.47M | 130.77M | 116.78M |
| Gross Profit | 216.14M | 169.14M | 155.44M | 132.79M | 116.12M | 105.38M |
| EBITDA | 107.67M | 93.76M | 87.56M | 107.19M | 63.61M | 63.15M |
| Net Income | 81.06M | 71.50M | 65.56M | 74.51M | 45.21M | 45.44M |
Balance Sheet | ||||||
| Total Assets | 5.95B | 4.52B | 4.50B | 4.22B | 3.66B | 2.94B |
| Cash, Cash Equivalents and Short-Term Investments | 875.15M | 55.34M | 414.29M | 407.44M | 424.38M | 509.55M |
| Total Debt | 104.85M | 123.55M | 147.37M | 127.14M | 122.63M | 66.63M |
| Total Liabilities | 5.13B | 3.88B | 3.86B | 3.60B | 3.21B | 2.61B |
| Stockholders Equity | 819.31M | 643.84M | 639.68M | 619.80M | 453.10M | 322.65M |
Cash Flow | ||||||
| Free Cash Flow | 42.58M | 51.04M | 58.62M | 39.46M | 33.14M | 31.57M |
| Operating Cash Flow | 57.25M | 62.48M | 65.85M | 52.95M | 40.01M | 40.28M |
| Investing Cash Flow | 214.81M | -15.97M | -252.94M | 269.00M | -177.81M | -93.89M |
| Financing Cash Flow | -125.87M | -64.64M | 200.95M | -193.82M | -39.71M | 180.24M |
Bank First National Technical Analysis
Neutral
150.78
Price Trends
149.69
Positive
145.56
Positive
138.57
Positive
Market Momentum
1.34
Positive
50.08
Neutral
24.69
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BFC, the sentiment is Neutral. The current price of 150.78 is below the 20-day moving average (MA) of 154.20, above the 50-day MA of 149.69, and above the 200-day MA of 138.57, indicating a neutral trend. The MACD of 1.34 indicates Positive momentum. The RSI at 50.08 is Neutral, neither overbought nor oversold. The STOCH value of 24.69 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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 |
|---|---|---|---|---|---|---|---|
80 Outperform | $1.40B | 9.33 | 17.32% | 3.03% | 0.58% | 15.28% | |
78 Outperform | $1.73B | 11.52 | 11.75% | 1.14% | 2.81% | 23.43% | |
77 Outperform | $1.69B | 20.04 | 11.14% | 1.29% | 23.23% | 11.02% | |
77 Outperform | $1.65B | 14.61 | 11.44% | 2.02% | -2.69% | 2.86% | |
75 Outperform | $1.62B | 9.52 | 10.11% | 2.27% | 44.64% | 252.66% | |
74 Outperform | $1.35B | 12.82 | 12.31% | 3.08% | -8.51% | -5.30% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% |
* Financial Sector Average
BFC
Bank First National
154.08
26.99
21.24%
PFBC
Preferred Bank
104.06
13.09
14.39%
RBCAA
Republic Bancorp
94.98
20.92
28.24%
WABC
Westamerica Bancorporation
58.33
10.07
20.86%
CNOB
ConnectOne Bancorp
32.19
7.81
32.06%
BY
Byline Bancorp
38.37
10.07
35.58%
Bank First National Corporate Events
Executive/Board Changes
Bank First National strengthens board with three new directors
Positive
Jun 23, 2026
On June 16, 2026, Bank First Corporation, together with its wholly owned banking subsidiary Bank First, N.A., elected three new directors to its Board of Directors: SriRaj Kantamneni, Tracy C. Pearson and William J. Ring. Each of the newly elected...
Business Operations and StrategyExecutive/Board ChangesRegulatory Filings and ComplianceShareholder Meetings
Bank First National Announces Board Changes and Governance Votes
Positive
Jun 18, 2026
On June 15, 2026, Bank First Corporation held its Annual Meeting of Shareholders, where longtime director Stephen E. Johnson retired from the Board, and shareholders elected new directors Steven M. Eldred and Todd A. Sprang, while re-electing Pres...
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.