On May 6, 2025, Hovde Group elevated its rating on Bank First Corporation (BFC) from “Market Perform” to “Outperform,” with an increased price target of \$130. The upgrade centers on improved earnings momentum and a solid outlook for continued profitability.
📌 Analyst Brendan Nosal pointed to a notable uptick in earnings estimates as a key driver. Over the last three months, projected earnings for fiscal year 2025 have climbed 3%, reflecting growing confidence in BFC’s business performance. This positive revision was pivotal in supporting a more bullish stance.
📌 In addition to strong earnings visibility, BFC made headlines with a generous \$3.50 per share special dividend. This move signals not only financial strength but also a deep commitment to rewarding shareholders, further enhancing the company’s investment appeal.
📌 From a fundamentals perspective, Bank First Corporation maintains a disciplined and consistent dividend approach:
💵 Annual Dividend: \$1.65 per share
📊 Dividend Yield: 1.44%
🧮 Payout Ratio: 25.4%
📌 While its dividend yield is more modest compared to industry averages, BFC’s conservative payout ratio and history of uninterrupted distributions over the past seven years speak volumes about its reliability. The capacity for future dividend growth remains strong given its low payout commitment.
📌 Altogether, the shift to “Outperform” reflects a combination of strengthening earnings power and an investor-friendly capital return strategy. BFC stands out as a compelling pick for those seeking stability, growth, and a steady stream of income.