(BFC) Bank First National - Overview
Sector: Financial Services | Industry: Banks - Regional | Exchange: NASDAQ (USA) | Market Cap: 1.597m USD | Total Return: 25.7% in 12m
Avg Turnover: 13.3M
EPS Trend: 99.5%
Qual. Beats: 0
Rev. Trend: 98.5%
Qual. Beats: 0
Warnings
Below Avwap Earnings
Tailwinds
Shakeout
Bank First Corporation (NASDAQ: BFC) is a financial holding company headquartered in Manitowoc, Wisconsin. Established in 1894, the institution operates through its subsidiary, Bank First, N.A., providing a comprehensive suite of commercial and consumer banking services including deposit accounts, residential mortgages, and treasury management.
The company’s business model centers on relationship-based community banking, primarily serving small-to-midsized businesses and professionals within the Wisconsin market. As a regional bank, BFC generates revenue largely through the net interest margin-the spread between interest earned on its diversified loan portfolio (commercial, industrial, and real estate) and interest paid on customer deposits.
Regional banks often face distinct risks related to geographic economic concentration and local real estate cycles. Investors can evaluate these risk factors and valuation metrics further at ValueRay. In addition to core lending, Bank First maintains diversified revenue streams through insurance services and data processing technology.
- Net interest margin sensitivity to Federal Reserve monetary policy shifts
- Commercial real estate loan concentration in the Wisconsin regional market
- Growth through strategic acquisitions of smaller community banks in Wisconsin
- Operating efficiency ratios driven by internal data processing and technology
- Asset quality trends within the 1-4 family residential mortgage portfolio
| Net Income: 73.2m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.01 > 0.02 and ΔFCF/TA -0.40 > 1.0 |
| NWC/Revenue: 139.4% < 20% (prev -1.42k%; Δ 1.56k% < -1%) |
| CFO/TA 0.01 > 3% & CFO 44.7m > Net Income 73.2m |
| Net Debt (-273.8m) to EBITDA (99.6m): -2.75 < 3 |
| Current Ratio: 13.25 > 1.5 & < 3 |
| Outstanding Shares: last quarter (11.2m) vs 12m ago 12.47% < -2% |
| Gross Margin: 72.46% > 18% (prev 0.69%; Δ 7.18k% > 0.5%) |
| Asset Turnover: 5.00% > 50% (prev 5.13%; Δ -0.13% > 0%) |
| Interest Coverage Ratio: 1.26 > 6 (EBITDA TTM 99.6m / Interest Expense TTM 71.9m) |
| A: 0.06 (Total Current Assets 398.6m - Total Current Liabilities 30.1m) / Total Assets 6.07b |
| B: 0.07 (Retained Earnings 431.4m / Total Assets 6.07b) |
| C: 0.02 (EBIT TTM 90.7m / Avg Total Assets 5.29b) |
| D: 0.08 (Book Value of Equity 431.4m / Total Liabilities 5.25b) |
| Altman-Z'' = 0.83 = B |
As of May 24, 2026, the stock is trading at USD 141.87 with a total of 100,485 shares traded.
Over the past week, the price has changed by +0.52%,
over one month by +2.07%,
over three months by +1.63% and
over the past year by +25.72%.
Bank First National has received a consensus analysts rating of 4.00. Therefore, it is recommended to buy BFC.
- StrongBuy: 1
- Buy: 0
- Hold: 1
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 158.5 | 11.7% |
P/E Forward = 5.8106
P/S = 8.2476
P/B = 1.9504
P/EG = 0.098
Revenue TTM = 264.3m USD
EBIT TTM = 90.7m USD
EBITDA TTM = 99.6m USD
Long Term Debt = 124.8m USD (from longTermDebt, last quarter)
Short Term Debt = 30.1m USD (from shortTermDebt, last fiscal year)
Debt = 124.8m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -273.8m USD (calculated: Debt 124.8m - CCE 398.6m)
Enterprise Value = 1.32b USD (1.60b + Debt 124.8m - CCE 398.6m)
Interest Coverage Ratio = 1.26 (Ebit TTM 90.7m / Interest Expense TTM 71.9m)
EV/FCF = 18.98x (Enterprise Value 1.32b / FCF TTM 69.7m)
FCF Yield = 5.27% (FCF TTM 69.7m / Enterprise Value 1.32b)
FCF Margin = 26.37% (FCF TTM 69.7m / Revenue TTM 264.3m)
Net Margin = 27.71% (Net Income TTM 73.2m / Revenue TTM 264.3m)
Gross Margin = 72.46% ((Revenue TTM 264.3m - Cost of Revenue TTM 72.8m) / Revenue TTM)
Gross Margin QoQ = 75.81% (prev 73.17%)
Tobins Q-Ratio = 0.22 (Enterprise Value 1.32b / Total Assets 6.07b)
Interest Expense / Debt = 57.62% (Interest Expense 71.9m / Debt 124.8m)
Taxrate = 19.05% (4.70m / 24.7m)
NOPAT = 73.5m (EBIT 90.7m * (1 - 19.05%))
Current Ratio = 0.12 (Total Current Assets 398.6m / Total Current Liabilities 3.43b)
Debt / Equity = 0.15 (Debt 124.8m / totalStockholderEquity, last quarter 819.9m)
Debt / EBITDA = -2.75 (Net Debt -273.8m / EBITDA 99.6m)
Debt / FCF = -3.93 (Net Debt -273.8m / FCF TTM 69.7m)
Total Stockholder Equity = 676.0m (last 4 quarters mean from totalStockholderEquity)
RoA = 1.39% (Net Income 73.2m / Total Assets 6.07b)
RoE = 10.83% (Net Income TTM 73.2m / Total Stockholder Equity 676.0m)
RoCE = 11.33% (EBIT 90.7m / Capital Employed (Equity 676.0m + L.T.Debt 124.8m))
RoIC = 1.24% (NOPAT 73.5m / Invested Capital 5.92b)
WACC = 7.34% (E(1.60b)/V(1.72b) * Re(7.91%) + (debt cost/tax rate unavailable))
Discount Rate = 7.91% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -53.94 | Cagr: 3.68%
[DCF] Terminal Value 75.41% ; FCFF base≈69.8m ; Y1≈69.9m ; Y5≈73.9m
[DCF] Fair Price = 127.5 (EV 1.15b - Net Debt -273.8m = Equity 1.42b / Shares 11.2m; r=8.35% [WACC [floored]]; 5y FCF grow -0.18% → 2.50% )
EPS Correlation: 99.47 | EPS CAGR: 16.04% | SUE: -0.37 | # QB: 0
Revenue Correlation: 98.48 | Revenue CAGR: 16.25% | SUE: 0.80 | # QB: 0
EPS current Quarter (2026-06-30): EPS=2.27 | Chg30d=-9.00% | Revisions=-33% | Analysts=2
EPS next Quarter (2026-09-30): EPS=2.53 | Chg30d=-7.16% | Revisions=-33% | Analysts=2
EPS current Year (2026-12-31): EPS=9.65 | Chg30d=-6.03% | Revisions=-33% | GrowthEPS=+30.1% | GrowthRev=+49.9%
EPS next Year (2027-12-31): EPS=10.43 | Chg30d=-3.07% | Revisions=-33% | GrowthEPS=+8.0% | GrowthRev=+3.9%
[Analyst] Revisions Ratio: -33%