Bank First Slashes Quarterly Dividend by Over 50% to $0.55, Reports Q1 Adjusted EPS of $2.24
BFC sits 39% above its 52-week low of $100.5.
Summary
Bank First Corp announced a significant cut to its quarterly cash dividend, reducing it to $0.55 per share, a decrease of over 50% compared to the implied prior quarterly dividend based on the $5.30 annual dividend reported in the recent 10-K. The company reported Q1 2026 adjusted net income of $25.1 million, or $2.24 adjusted diluted EPS, and GAAP net income of $20.0 million, or $1.78 EPS. These results follow the January 1, 2026, acquisition of Centre, which added approximately $1.48 billion in assets and significantly impacted the quarter's financials. The dividend reduction, despite the asset growth from the acquisition, suggests a more conservative capital allocation strategy or potential integration challenges. Investors will be watching for further details on the acquisition's impact and the core data processing conversion scheduled for Q2 2026.
At the time of this announcement, BFC was trading at $139.95 on NASDAQ in the Finance sector, with a market capitalization of approximately $1.6B. The 52-week trading range was $100.50 to $153.00. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Wiseek News.