Bank First Corp (BFC) stock analysis

P/E above its 5-year median

Bank First's P/E of 18.8 is above its own 5-year median of 15.3.

P/E above the industry

Bank First's P/E of 18.8 is above the Commercial Banks median of 12.1.

P/S above the industry

Bank First's price-to-sales of 6.98 is above the Commercial Banks median of 3.60.

P/B above the industry

Bank First's price-to-book of 2.02 is above the Commercial Banks median of 1.29.

Trading above fair value

The share price of $150.46 is above our fair value estimate of $110.45.

Margin of safety under 20%

The price is 36.2% above fair value, so there is no margin of safety.

Revenue growing 10%+ a year

Revenue grew 12.0% a year over the last three fiscal years.

EPS growing under 10% a year

Diluted EPS grew 9.0% a year over the last three fiscal years.

Earnings growth accelerating

Net income grew 23.0% over the last twelve months, against a 5-year average of 13.4% a year.

Growing faster than the industry

Revenue grew 41.4% over the last twelve months; the Commercial Banks median is 11.3%.

Company guidance

No outlook found in earnings releases from the last twelve months.

Gross margin trend

Banks and insurers do not report gross profit.

Return on equity under 15%

Return on equity was 11.9% over the last twelve months and averaged 12.4% over five years; we look for 15% on both.

Return on assets over 1%

Return on assets was 1.7%; for a bank or insurer, 1% or more is considered good.

Return on equity above the industry

Bank First's return on equity of 11.9% is above the Commercial Banks median of 11.5%.

Earnings grew over 5 years

Net income grew 13.4% a year on average over the last five fiscal years.

Net margin below its 5-year average

Net margin was 36.3% over the last twelve months, against a 5-year average of 39.6%.

Net margin above the industry

Bank First's net margin of 36.3% is above the Commercial Banks median of 30.3%.

Well capitalized

Equity is 13.9% of total assets; 8% or more is a comfortable cushion.

Loans funded by deposits

Loans equal 90.7% of deposits, so lending is funded by customer deposits.

Adequate loan-loss reserve

The allowance for credit losses is 1.3% of loans; we look for at least 1%.

Efficient operations

Non-interest expense takes 54.4% of revenue; under 60% is efficient for a bank.

Deposits growing

Deposits grew 41.3% over the past year.

Borrowings

Needs debt and equity figures.

Pays a dividend

Bank First paid dividends worth 1.4% of the share price over the last twelve months.

Yield below Treasuries

The 1.4% yield is below the 4.4% on a 1-year Treasury.

Yield below the top quarter

The top quarter of US dividend payers yield 3.8% or more; Bank First yields 1.4%.

Dividend was cut

The dividend per share fell by more than 10% at least once in the last 10 fiscal years.

Earnings cover

Needs dividends paid and net income.

Cash-flow cover

Needs dividends paid and free cash flow.