Bank First Q3 EPS Slips to $2.15 as Dividend Rises to $0.65
BFC sits 25% above its 52-week low of $119.08.
Summary
Bank First reported Q3 net income of $23.8 million, or $2.15 per share, up from $1.83 a year earlier but down from $2.21 EPS in Q2. Adjusted EPS came in at $2.35, and the board raised the quarterly dividend to $0.65. Net interest income was $55.2 million with a 4.07% net interest margin, and the company booked a negative $800 thousand loan loss provision, meaning it released reserves rather than adding to them. The headline EPS decline versus Q2 is modest and partly offset by the higher adjusted figure and dividend increase; the reserve release is a mild positive on credit quality. This follows the Q2 report in July that showed $2.21 EPS on the Centre acquisition, so the sequential dip is the number to weigh against deal-driven growth.
At the time of this announcement, BFC was trading at $148.34 on NASDAQ in the Finance sector, with a market capitalization of approximately $1.6B. The 52-week trading range was $119.08 to $159.10. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.