Bank First (BFC)


Market Price (10/22/2026): $143.0 | Market Cap: $1.6 BilSector: Financials | Industry: Regional Banks

Bank First (BFC)


Market Price (10/22/2026): $143.0
Market Cap: $1.6 Bil
Sector: Financials
Industry: Regional Banks

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.4%

Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -23%

Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 32%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 27%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 20%

Low stock price volatility
Vol 12M is 24%

Megatrend and thematic drivers
Megatrends include Fintech & Digital Payments. Themes include Online Banking & Lending, Digital Payments, and Wealth Management Technology.

Expensive valuation multiples
P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 28x

Key risks
BFC key risks include [1] credit exposure from its substantial real estate loan portfolio and [2] intense competition in its key markets of Oklahoma and North Texas.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.4%
1 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -23%
2 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 32%
3 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 27%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 20%
4 Low stock price volatility
Vol 12M is 24%
5 Megatrend and thematic drivers
Megatrends include Fintech & Digital Payments. Themes include Online Banking & Lending, Digital Payments, and Wealth Management Technology.
6 Expensive valuation multiples
P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 28x
7 Key risks
BFC key risks include [1] credit exposure from its substantial real estate loan portfolio and [2] intense competition in its key markets of Oklahoma and North Texas.

BFC in ETFs

Weight = BFC's share of each fund

VTI0.00%
ITOT0.00%
IWM0.05%
VIG0.01%
KRE0.47%
VTWO0.05%
SCHA0.04%
DFAS0.03%
+6 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 10/20/2026

Bank First (BFC) stock has lost about 5% since 6/30/2026 because of the following key factors:

1. Mixed fiscal Q3 2026 earnings performance relative to expectations. Bank First reported adjusted diluted earnings per share (EPS) of $2.35 for fiscal Q3 2026 (ended September 30, 2026), marking a 23% increase year-over-year from $1.91 in fiscal Q3 2025. However, this figure fell short of the consensus analyst estimate of $2.60 per share. This combination of strong year-over-year growth but a miss on analyst expectations likely contributed to the stock's stable, rather than significantly upward, movement during the period.

2. Ongoing acquisition activities and associated expenses. The company reported meaningful progress toward its planned acquisition of PSB Holdings, Inc. ("Peoples"), which is expected to close on December 4, 2026. Expenses related to this acquisition, alongside a prior acquisition of Centre 1 Bancorp, Inc., impacted net income for fiscal Q3 2026. While acquisitions can drive future growth, the immediate costs and integration efforts often temper short-term stock price appreciation.

Show more
Updated on 10/20/2026

Bank First (BFC) stock has lost about 5% since 6/30/2026 because of the following key factors:

1. Mixed fiscal Q3 2026 earnings performance relative to expectations. Bank First reported adjusted diluted earnings per share (EPS) of $2.35 for fiscal Q3 2026 (ended September 30, 2026), marking a 23% increase year-over-year from $1.91 in fiscal Q3 2025. However, this figure fell short of the consensus analyst estimate of $2.60 per share. This combination of strong year-over-year growth but a miss on analyst expectations likely contributed to the stock's stable, rather than significantly upward, movement during the period.

2. Ongoing acquisition activities and associated expenses. The company reported meaningful progress toward its planned acquisition of PSB Holdings, Inc. ("Peoples"), which is expected to close on December 4, 2026. Expenses related to this acquisition, alongside a prior acquisition of Centre 1 Bancorp, Inc., impacted net income for fiscal Q3 2026. While acquisitions can drive future growth, the immediate costs and integration efforts often temper short-term stock price appreciation.

3. Generally favorable, though nuanced, interest rate environment for regional banks. The Federal Reserve's interest rate hike in September 2026 contributed to elevated Treasury yields, with the 10-year U.S. Treasury yield climbing to a two-decade high of 5.29%. This environment typically acts as a tailwind for regional banks by allowing for wider net interest margins, as funding costs remain relatively low. Bank First reported a net interest margin of 4.07% in fiscal Q3 2026. However, higher rates also pressured certain consumer lending activities, such as residential mortgages.

4. Consistent dividend growth signaling financial stability. Bank First demonstrated confidence in its financial performance and outlook by increasing its quarterly cash dividend to $0.65 per share. This represents an 8.3% increase from the prior quarter's dividend and a substantial 44.4% increase compared to fiscal Q3 2025. Such consistent returns to shareholders can provide a level of support for the stock price, reinforcing a perception of stability.

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Stock Movement Drivers

Fundamental Drivers

The -3.9% change in BFC stock from 6/30/2026 to 10/21/2026 was primarily driven by a -13.7% change in the company's P/E Multiple.
(LTM values as of)630202610212026Change
Stock Price ($)147.76142.04-3.9%
Change Contribution By: 
Total Revenues ($ Mil)19121512.3%
Net Income Margin (%)38.3%37.8%-1.5%
P/E Multiple22.519.5-13.7%
Shares Outstanding (Mil)11110.6%
Cumulative Contribution-3.9%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2026 to 10/21/2026
ReturnCorrelation
BFC-3.9% 
Market (SPY)3.5%10.4%
Sector (XLF)4.5%42.6%

Fundamental Drivers

The 6.0% change in BFC stock from 3/31/2026 to 10/21/2026 was primarily driven by a 26.2% change in the company's Total Revenues ($ Mil).
(LTM values as of)331202610212026Change
Stock Price ($)134.01142.046.0%
Change Contribution By: 
Total Revenues ($ Mil)17021526.2%
Net Income Margin (%)42.0%37.8%-10.2%
P/E Multiple18.319.56.0%
Shares Outstanding (Mil)1011-11.8%
Cumulative Contribution6.0%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2026 to 10/21/2026
ReturnCorrelation
BFC6.0% 
Market (SPY)19.2%8.7%
Sector (XLF)13.9%36.5%

Fundamental Drivers

The 18.9% change in BFC stock from 9/30/2025 to 10/21/2026 was primarily driven by a 32.1% change in the company's Total Revenues ($ Mil).
(LTM values as of)930202510212026Change
Stock Price ($)119.50142.0418.9%
Change Contribution By: 
Total Revenues ($ Mil)16221532.1%
Net Income Margin (%)42.6%37.8%-11.4%
P/E Multiple17.019.514.3%
Shares Outstanding (Mil)1011-11.2%
Cumulative Contribution18.9%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2025 to 10/21/2026
ReturnCorrelation
BFC18.9% 
Market (SPY)17.0%22.4%
Sector (XLF)5.3%45.4%

Fundamental Drivers

The 99.1% change in BFC stock from 9/30/2023 to 10/21/2026 was primarily driven by a 56.3% change in the company's Total Revenues ($ Mil).
(LTM values as of)930202310212026Change
Stock Price ($)71.35142.0499.1%
Change Contribution By: 
Total Revenues ($ Mil)13721556.3%
Net Income Margin (%)35.1%37.8%7.6%
P/E Multiple15.319.527.2%
Shares Outstanding (Mil)1011-6.9%
Cumulative Contribution99.1%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2023 to 10/21/2026
ReturnCorrelation
BFC99.1% 
Market (SPY)87.1%35.4%
Sector (XLF)76.4%52.6%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
BFC Return13%30%-5%16%29%23%157%
Peers Return41%1%2%21%18%23%155%
S&P 500 Return27%-19%24%23%16%12%104%

Monthly Win Rates [3]
BFC Win Rate67%67%58%67%75%50% 
Peers Win Rate72%47%45%53%62%56% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
BFC Max Drawdown-12%-9%-28%-15%-13%-14% 
Peers Max Drawdown-15%-25%-36%-18%-23%-15% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: ASB, NIC, WTFC, FBIZ, WSBF.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 10/21/2026 (YTD)

How Low Can It Go

EventBFCS&P 500
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-13.2%-9.5%
  % Gain to Breakeven15.3%10.5%
  Time to Breakeven45 days24 days
2023 SVB Regional Banking Crisis
  % Loss-16.7%-6.7%
  % Gain to Breakeven20.0%7.1%
  Time to Breakeven38 days31 days
2020 COVID-19 Crash
  % Loss-28.0%-33.7%
  % Gain to Breakeven38.9%50.9%
  Time to Breakeven72 days140 days
2008-2009 Global Financial Crisis
  % Loss-62.2%-53.4%
  % Gain to Breakeven164.8%114.4%
  Time to Breakeven702 days1085 days

Compare to ASB, NIC, WTFC, FBIZ, WSBF

In The Past

Bank First's stock fell -6.5% during the 2025 US Tariff Shock. Such a loss loss requires a 7.0% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventBFCS&P 500
2020 COVID-19 Crash
  % Loss-28.0%-33.7%
  % Gain to Breakeven38.9%50.9%
  Time to Breakeven72 days140 days
2008-2009 Global Financial Crisis
  % Loss-62.2%-53.4%
  % Gain to Breakeven164.8%114.4%
  Time to Breakeven702 days1085 days

Compare to ASB, NIC, WTFC, FBIZ, WSBF

In The Past

Bank First's stock fell -6.5% during the 2025 US Tariff Shock. Such a loss loss requires a 7.0% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Bank First (BFC)

Bank First Corporation (BFC) operates as a bank holding company for Bank First N.A., providing a comprehensive suite of consumer and commercial financial services. Headquartered in Manitowoc, Wisconsin, the company primarily serves individuals, businesses, professionals, associations, and governmental authorities within its home state, operating through 21 offices across several Wisconsin counties.

The company offers a diverse range of banking products and services. On the deposit side, it provides checking, savings, money market, health savings, retirement accounts, and various certificates of deposit. Its lending portfolio is extensive, including real estate loans (commercial, residential mortgage, home equity), commercial and industrial loans for business purposes, construction and development loans, and consumer loans for personal and household needs. Additionally, Bank First offers credit cards, ATM processing, insurance, treasury management, and various digital banking solutions like online, telephone, and mobile banking.

Essentially, Bank First functions as a full-service community bank, catering to the financial needs of its local market. Its primary focus is on serving the communities and local economies within Wisconsin by providing essential banking services, from managing deposits and facilitating loans to offering specialized financial tools for both individuals and commercial entities.

AI Analysis | Feedback

Bank First (BFC) is like:

  • The Bank of America of Wisconsin.

  • Wells Fargo, but focused entirely on Wisconsin.

AI Analysis | Feedback

  • Deposit Accounts: Offers various checking, savings, money market, retirement, health savings, and time deposit accounts for individuals and businesses.
  • Loan Products: Provides a range of real estate (commercial, residential mortgage, home equity), commercial and industrial, construction and development, and consumer loans.
  • Credit Cards: Issues credit cards for personal and business use.
  • Insurance Services: Offers various insurance products to clients.
  • Investment & Safekeeping Services: Provides investment planning assistance and secure storage solutions.
  • Treasury Management Services: Helps businesses manage their cash flow, liquidity, and financial risks.
  • Online, Mobile, & Telephone Banking: Delivers convenient digital and telephonic platforms for banking transactions and account access.
  • ATM Processing: Manages automated teller machine operations for cash withdrawals and deposits.
  • Data Processing and Information Technology Services: Provides data management and IT infrastructure services, supporting banking operations and potentially offered to businesses.

AI Analysis | Feedback

Bank First (BFC) operates as a community bank primarily serving a broad base of customers within its operating counties in Wisconsin. As such, it does not have a small number of major named corporate customers. Instead, its customer base is diversified across several categories:

  • Individual Consumers: This category includes individuals and families who utilize the bank's services for personal financial needs, such as checking, savings, money market, and health savings accounts, residential mortgage products, credit cards, and various consumer loans for personal and household purposes.
  • Small to Medium-sized Businesses and Professionals: This segment comprises local businesses of varying sizes and individual professionals who require commercial financial services, commercial real estate loans, commercial and industrial loans for working capital, inventory financing, and other business purposes, as well as cash management and treasury services.
  • Associations and Governmental Authorities: Bank First also provides financial services to local non-profit associations, community organizations, and governmental entities within its service area.

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Visa Inc. (V)

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Michael B. Molepske, Chief Executive Officer, Chairman of the Board

Michael B. Molepske has served as Chief Executive Officer of Bank First since December 2008 and became Chairman of the Board of Directors in June 2022. He joined Bank First in 2005 as Senior Loan Officer and Regional President. Prior to his tenure at Bank First, Mr. Molepske gained experience as a Credit Analyst, Business Banker, Senior Loan Officer, and Market President at Associated Bank. Under his leadership, Bank First's assets have grown significantly, from $660 million in 2008 to $4.5 billion by March 2025. He holds Bachelor of Science Degrees in Finance and Management Information Systems from the University of Wisconsin, Madison, and a Master of Business Administration from the University of Wisconsin, Milwaukee.

Kevin M. LeMahieu, Chief Financial Officer

Kevin M. LeMahieu joined Bank First in August 2014 as Chief Financial Officer, where he is responsible for overseeing the Bank's finance activities and financial reporting. Mr. LeMahieu has dedicated his entire professional career to public accounting and finance. Before joining Bank First, he spent nine years, from 1995 to 2004, with Beene Garter LLP, where he managed audit and review teams for clients across various industries.

Timothy J. McFarlane, President

Timothy J. McFarlane began his banking career in 1988 as a Credit Analyst. He served as Community Bank President at Associated Bank from 1995 to 2003, during which he significantly grew the Fond du Lac office. In 2003, he became President, Chief Executive Officer, and Chairman of the Board of Directors at Hometown Bank. During his time at Hometown Bank, he led the successful acquisitions of Farmers Exchange Bank in 2015 and United Community Bank in 2018, expanding the bank's assets from $189 million to $654 million. Mr. McFarlane joined Bank First as President in February 2023 as part of the merger with Hometown Bank.

Jason V. Krepline, Chief Lending Officer

Jason V. Krepline joined Bank First in 2005 as Vice President of Business Banking. Currently, he serves as Chief Lending Officer, overseeing the Bank's business banking frontline operations and providing leadership on credit decisions. Prior to joining Bank First, Mr. Krepline spent seven years at Associated Bank, holding positions such as Credit Analyst, Business Banking Officer, and Vice President of Business Banking.

Kelly M. Dvorak, Chief Legal Counsel

Kelly M. Dvorak joined Bank First in 2017 and serves as Chief Legal Counsel. In this role, she is responsible for the Bank's legal, compliance, and shareholder services departments. Ms. Dvorak brings 20 years of legal and leadership experience, having started her legal career in litigation at Whyte Hirschboeck Dudek (now Husch Blackwell) in 2004, and later working as in-house counsel for DVO, Inc.

AI Analysis | Feedback

Here are the key risks to Bank First (symbol: BFC):
  1. Credit Risk: As a financial institution providing a wide array of loan products, including commercial real estate, residential mortgage, home equity, commercial and industrial, construction and development, and consumer loans, Bank First is significantly exposed to credit risk. This is the risk that borrowers may default on their obligations, leading to financial losses for the bank. The adequacy of the bank's allowance for credit losses is a critical management area, as economic downturns or unforeseen events could necessitate an increase in this allowance, impacting financial results.
  2. Interest Rate Risk: Bank First's financial stability and profitability are vulnerable to fluctuations in interest rates. Changes in interest rates can adversely affect the bank's capital and earnings by impacting the present value and timing of future cash flows from its banking book positions. This can alter the underlying value of its assets, liabilities, and off-balance sheet items, and influence net interest income, which is a primary source of revenue for banks. Managing this risk through strategies like gap analysis and interest rate simulations is crucial, but unpredictable market conditions and regulatory changes can affect the effectiveness of these strategies.
  3. Regulatory Compliance Burden: Community banks like Bank First face a dynamic and often uncertain regulatory environment. Increased federal regulatory and supervisory activity, along with evolving compliance requirements, impose a significant burden on these institutions. This burden can lead to higher compliance costs, divert resources from core banking activities and innovation, and demand heightened vigilance and adaptability in strategic planning and operations. Failure to effectively navigate the complex regulatory landscape can result in penalties and impact the bank's ability to serve its customers and communities efficiently.

AI Analysis | Feedback

The clearest emerging threat for Bank First (BFC) is the **digital transformation and disruption of traditional banking services**. This multifaceted threat comes from:
  1. **Digital-only banks (neobanks):** These entities operate without physical branches, offering competitive interest rates, lower fees, and highly convenient online and mobile banking experiences. They directly challenge Bank First's traditional branch-based model for attracting deposits and originating consumer loans by appealing to customers who prioritize digital convenience and cost savings over in-person service.
  2. **Specialized financial technology (fintech) companies:** These companies focus on providing superior, tech-driven solutions for specific banking functions, such as digital lending platforms (e.g., for mortgages or personal loans), advanced payment processing systems, or user-friendly investment applications. By unbundling and optimizing specific services, they can erode Bank First's market share and revenue in particular product categories.
  3. **Large technology companies ("Big Tech") entering financial services:** Companies like Apple, Google, and Amazon, with their vast user bases, advanced data analytics, and technological prowess, are increasingly developing and integrating financial products and services into their ecosystems. These offerings could potentially bypass traditional banks entirely, providing highly convenient and integrated financial solutions that attract customers away from established institutions like Bank First.
This collective shift towards digital-first, specialized, and integrated financial services poses a significant challenge to Bank First's reliance on physical branches, local relationships, and a broad suite of bundled banking products.

AI Analysis | Feedback

For Bank First (symbol: BFC), the addressable markets for its main products and services in Wisconsin are as follows:

  • Deposits (including checking, savings, money market, cash management, retirement, health savings accounts, other time deposits, and certificates of deposit): The total bank deposits in Wisconsin amounted to approximately $129.73 billion as of March 31, 2025.
  • Commercial and Industrial Loans, and General Commercial Financial Services (including consumer, commercial, and industrial loans): The market size of the Commercial Banking industry in Wisconsin is estimated at $19.0 billion in 2026.
  • Residential Mortgage Products: The estimated market value for existing home sales in Wisconsin is approximately $22.7 billion for the year 2025, based on projections of 69,400 existing home sales at a statewide median price of $327,400.
  • Credit Cards: The market size of the Credit Card Issuing industry in Wisconsin is $677.0 million in 2025.

AI Analysis | Feedback

Bank First Corporation (BFC) is expected to drive future revenue growth over the next 2-3 years through a combination of strategic initiatives and market dynamics. Key expected drivers include:

  • Loan Portfolio Expansion: The company anticipates continued revenue growth through mid-single-digit loan expansion, indicating an ongoing increase in its lending activities as a primary factor for revenue generation.
  • Increased Loan Yields from Repricing: Bank First expects that an increase in loan yields due to repricing will continue to enhance its loan portfolio yields, thereby boosting interest income.
  • Strategic Acquisitions and Market Presence Expansion: The recent acquisition of Centre 1 Bancorp, Inc., completed on January 1, 2026, significantly expands Bank First's geographic footprint and market presence. This acquisition adds approximately $6 billion in assets and 38 branch locations across Wisconsin and the Stateline area of Illinois, and also broadens the company's services to include trust and wealth management.
  • Digital Banking Expansion and Fintech Enablement: Bank First has strategically focused on enhancing its digital banking experience. The successful implementation of the Empowered Core banking technology platform in July 2024 provides greater flexibility, speed to market, and Fintech enablement, which is expected to attract a tech-savvy customer base and streamline operations.
  • Relationship-Based Community Banking: BFC's continued emphasis on its relationship-based community banking model is seen as a crucial opportunity to deepen existing customer relationships and expand its customer base.

AI Analysis | Feedback

Share Repurchases

  • Bank First Corporation actively engages in share repurchases as part of its capital allocation strategy.
  • In the first quarter of 2025, the company repurchased $6.4 million of its common stock.
  • Under a buyback plan announced in February 2025, Bank First completed repurchases totaling $42.62 million for 368,558 shares.

Share Issuance

  • Bank First Corporation plans to issue shares for the acquisition of Centre 1 Bancorp, Inc.
  • This acquisition was an all-stock transaction where Centre shareholders are to receive 0.9200 shares of Bank First common stock for each Centre share, valued at approximately $174.3 million.
  • The number of shares outstanding for Bank First decreased by 1.85% in one year.

Outbound Investments

  • In January 2026, Bank First completed the acquisition of Centre 1 Bancorp, Inc., parent company of The First National Bank and Trust Company, in an all-stock transaction valued at approximately $174.3 million. This acquisition is set to expand Bank First's presence into southern Wisconsin and northern Illinois.
  • The combined organization, following the Centre 1 Bancorp acquisition, operates 38 branch locations across Wisconsin and the Stateline area of Illinois, with approximately $6 billion in assets.
  • Bank First completed two acquisitions in 2022: Hometown Bank in July and Denmark State Bank in January.

Capital Expenditures

  • In the fourth quarter of 2025, Bank First Corp invested $2.7 million in capital expenditures, primarily funding long-term assets and infrastructure.
  • This represented a 9.5% decrease in capital expenditures from the prior quarter.
  • Capital expenditures for the last 12 months were reported as -$12.15 million, indicating cash spent on long-term assets.

Peer Outperformance in Regional Banks

BFC has outperformed 91% of its 259 Regional Banks peers over 5Y. Among the peers that beat it is FCNCA. Regional Banks ranks 8th of 18 industries in Financials by median 5Y return.
Share of Regional Banks constituents that BFC has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
18%
of 281 industry peers · 13.4% return
3Y
55%
of 271 industry peers · 103.2% return
5Y
91%
of 259 industry peers · 130.6% return
Regional Banks peers with revenue growth within 4pp of BFC's that beat it on at least 2 of 3 windows, and by at least 20pp over 5Y. Growth is matched by construction, so the gap is largely a re-rating gap. The multiple column is the context for it.
Ticker Name Rev Growth 3Y Avg P/E 1Y3Y5Y 5Y Gap
BFC Bank First 16.7% 19.5x 13.4%103.2%130.6% —
FCNCA First Citizens BancShares 18.0% 10.5x 22.4%65.8%160.6% +30pp
Price returns, excluding dividends. P/E shown for context only and not used for matching.
Median price return by industry across the Financials sector, ranked by 5Y. Regional Banks is BFC's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Reinsurance 6 29.3%70.9%117.9% SPNT 175% · RGA 150% · RNR 149%
Diversified Banks 12 28.8%148.1%90.6% CM 141% · RY 126% · JPM 124%
Life & Health Insurance 20 13.6%61.4%84.5% JXN 473% · UNM 291% · MFC 183%
Multi-Sector Holdings 4 9.7%58.8%71.2% BRK-B 88% · VOYA 54% · JEF 30%
Investment Banking & Brokerage 13 -12.1%102.8%70.1% IBKR 373% · SNEX 176% · GS 151%
Property & Casualty Insurance 42 13.6%80.6%63.8% TRV 174% · PGR 161% · ACGL 146%
Multi-line Insurance 9 7.7%67.3%58.4% GNW 98% · L 98% · AIZ 87%
Regional Banks ← 260 29.2%97.1%53.0% CBC 228% · FCNCA 161% · NIC 138%
Financial Exchanges & Data 15 7.8%36.5%29.9% CBOE 168% · VIRT 161% · CME 70%
Consumer Finance 30 -1.3%90.3%27.5% ENVA 413% · EZPW 325% · FCFS 154%
Insurance Brokers 15 -6.3%7.3%19.4% LIFE 416% · ARX 88% · AJG 66%
Diversified Financial Services 4 -4.1%22.5%5.3% FRHC 158% · EQH 83%
Asset Management & Custody Banks 84 -13.7%21.9%3.0% WT 296% · AAMI 257% · VCTR 244%
Commercial & Residential Mortgage Finance 15 -54.2%35.1%-5.8% FNMA 340% · FMCC 305% · ACT 149%
Specialized Finance 3 7.9%35.9%-12.1% CACC -12% · HASI -22%
Mortgage REITs 34 -21.7%-2.9%-35.1% RITM 25% · DX 17% · AGNC 6%
Transaction & Payment Processing Services 17 0.6%8.3%-36.6% V 84% · MA 80% · CPAY 47%
Diversified Capital Markets 20 -53.8%13.4%-63.7% LPLA 89% · TW 45% · RIOT -52%
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

BFCASBNICWTFCFBIZWSBFMedian
NameBank Fir.Associat.Nicolet .Wintrust.First Bu.Watersto. 
Mkt Price143.0029.18165.81147.4971.0619.62107.03
Mkt Cap1.65.53.59.90.60.32.6
Rev LTM2151,6035192,864178147367
Op Inc LTM-------
FCF LTM436801741,5738143128
FCF 3Y Avg485561419866442103
CFO LTM577191831,6448145132
CFO 3Y Avg606011521,0506543109

Growth & Margins

BFCASBNICWTFCFBIZWSBFMedian
NameBank Fir.Associat.Nicolet .Wintrust.First Bu.Watersto. 
Rev Chg LTM32.1%46.4%41.5%11.5%10.3%12.5%22.3%
Rev Chg 3Y Avg16.7%9.5%25.4%9.5%8.6%2.0%9.5%
Rev Chg Q58.0%23.2%85.7%10.1%13.8%5.9%18.5%
QoQ Delta Rev Chg LTM12.3%5.6%18.7%2.4%3.3%1.5%4.4%
Op Inc Chg LTM-------
Op Inc Chg 3Y Avg-------
Op Mgn LTM-------
Op Mgn 3Y Avg-------
QoQ Delta Op Mgn LTM-------
CFO/Rev LTM26.7%44.9%35.1%57.4%45.8%30.4%40.0%
CFO/Rev 3Y Avg35.7%48.1%37.7%39.5%39.9%31.5%38.6%
FCF/Rev LTM19.8%42.4%33.5%54.9%45.5%29.1%38.0%
FCF/Rev 3Y Avg29.0%44.4%34.8%36.9%39.2%30.6%35.9%

Valuation

BFCASBNICWTFCFBIZWSBFMedian
NameBank Fir.Associat.Nicolet .Wintrust.First Bu.Watersto. 
Mkt Cap1.65.53.59.90.60.32.6
P/S7.43.46.83.53.32.33.4
P/Op Inc-------
P/EBIT-------
P/E19.610.922.811.010.511.211.1
P/CFO27.77.619.36.17.27.57.6
Total Yield6.4%12.2%5.1%10.9%11.4%12.2%11.1%
Dividend Yield1.3%3.0%0.7%1.8%1.8%3.2%1.8%
FCF Yield 3Y Avg4.1%13.2%7.1%11.2%14.2%15.0%12.2%
D/E0.10.90.00.40.61.20.5
Net D/E-0.2-0.5-0.5-0.7-0.30.6-0.4

Returns

BFCASBNICWTFCFBIZWSBFMedian
NameBank Fir.Associat.Nicolet .Wintrust.First Bu.Watersto. 
1M Rtn-5.3%-0.6%0.0%0.3%-0.1%-4.3%-0.3%
3M Rtn-1.9%-4.2%-1.0%-6.6%8.0%1.3%-1.4%
6M Rtn3.7%6.5%16.6%0.4%25.4%10.8%8.7%
12M Rtn14.2%19.2%29.3%15.6%45.9%37.1%24.3%
3Y Rtn104.5%111.4%150.8%109.0%159.9%123.7%117.6%
1M Excs Rtn-3.4%1.9%1.5%3.3%2.5%-3.2%1.7%
3M Excs Rtn-6.0%-6.2%-5.0%-9.6%4.8%-1.6%-5.5%
6M Excs Rtn-3.7%-0.8%9.3%-6.9%18.1%3.5%1.4%
12M Excs Rtn2.9%5.6%16.5%4.5%32.1%23.6%11.1%
3Y Excs Rtn19.9%23.1%65.0%30.4%76.4%32.0%31.2%

Comparison Analyses

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Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Banking operations170155137118108
Total170155137118108


Price Behavior

Price Behavior
Market Price$142.04 
Market Cap ($ Bil)1.6 
First Trading Date02/23/2007 
Distance from 52W High-10.0% 
   50 Days200 Days
DMA Price$151.08$143.31
DMA Trendindeterminateup
Distance from DMA-6.0%-0.9%
 3M1YR
Volatility20.1%24.2%
Downside Capture27.5043.60
Upside Capture25.6759.21
Correlation (S&P 500)12.4%22.0%
BFC Betas & Captures as of 9/30/2026

 1M2M3M6M1Y3Y
Beta0.590.360.330.190.480.67
Up Beta-1.750.690.200.090.350.67
Down Beta0.700.400.440.120.620.46
Up Capture75%15%33%27%47%62%
Bmk +ve Days6162766132424
Stock +ve Days9203168132392
Down Capture100%43%38%16%46%90%
Bmk -ve Days16263760120328
Stock -ve Days13223358120358

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with BFC
BFC16.0%24.2%0.55-
Sector ETF (XLF)7.5%14.4%0.2741.8%
Equity (SPY)16.2%12.7%0.9020.5%
Gold (GLD)-6.0%29.0%-0.22-1.9%
Commodities (DBC)50.2%20.7%1.85-13.9%
Real Estate (VNQ)3.1%13.8%-0.0341.8%
Bitcoin (BTCUSD)-25.3%43.4%-0.555.4%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with BFC
BFC17.9%27.3%0.60-
Sector ETF (XLF)9.7%18.3%0.3947.6%
Equity (SPY)13.6%17.1%0.6136.0%
Gold (GLD)17.7%18.9%0.76-0.3%
Commodities (DBC)9.5%19.5%0.371.0%
Real Estate (VNQ)1.1%18.9%-0.0537.4%
Bitcoin (BTCUSD)7.6%51.7%0.3317.6%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with BFC
BFC12.7%32.9%0.53-
Sector ETF (XLF)13.1%22.1%0.5449.4%
Equity (SPY)15.5%17.9%0.7342.2%
Gold (GLD)12.2%16.4%0.61-0.2%
Commodities (DBC)8.2%18.1%0.3711.1%
Real Estate (VNQ)5.2%20.7%0.2142.6%
Bitcoin (BTCUSD)62.6%66.2%1.0215.6%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date9302026
Short Interest: Shares Quantity0.7 Mil
Short Interest: % Change Since 91520262.3%
Average Daily Volume0.1 Mil
Days-to-Cover Short Interest9.6 days
Basic Shares Quantity11.1 Mil
Short % of Basic Shares6.0%

Earnings Returns History

Updated 10/20/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
7/21/20260.5%3.9%3.7%
4/16/2026-1.3%-0.6%-1.1%
1/22/20261.1%2.0%3.2%
10/21/20254.0%2.6%-5.0%
7/18/20250.3%1.9%-3.7%
4/15/20254.2%8.8%17.3%
1/21/2025-0.7%1.7%2.7%
10/15/20243.1%2.5%13.3%
...
SUMMARY STATS   
# Positive141616
# Negative1088
Median Positive1.5%2.0%4.4%
Median Negative-1.0%-1.6%-4.3%
Max Positive4.5%12.5%17.3%
Max Negative-6.5%-8.4%-7.9%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
7/21/20260.5%3.9%3.7%
4/16/2026-1.3%-0.6%-1.1%
1/22/20261.1%2.0%3.2%
10/21/20254.0%2.6%-5.0%
7/18/20250.3%1.9%-3.7%
4/15/20254.2%8.8%17.3%
1/21/2025-0.7%1.7%2.7%
10/15/20243.1%2.5%13.3%
7/16/20240.5%3.8%-7.9%
4/16/2024-2.6%1.2%7.1%
1/16/20244.5%12.5%6.4%
10/17/2023-1.6%-5.2%4.4%
7/18/2023-0.0%0.9%-7.6%
4/18/20230.9%-1.5%5.3%
1/17/2023-6.5%-8.4%-6.1%
10/18/2022-1.0%-0.2%14.4%
7/19/2022-0.2%-1.7%4.3%
4/19/20222.2%-1.6%-2.1%
1/18/20221.4%1.3%0.0%
10/19/2021-0.9%0.4%2.3%
7/21/2021-0.4%-2.3%-1.4%
4/20/20213.0%4.1%2.0%
1/19/20211.5%1.3%2.2%
10/20/20201.5%1.9%6.0%
SUMMARY STATS   
# Positive141616
# Negative1088
Median Positive1.5%2.0%4.4%
Median Negative-1.0%-1.6%-4.3%
Max Positive4.5%12.5%17.3%
Max Negative-6.5%-8.4%-7.9%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202608/07/202610-Q
03/31/202605/11/202610-Q
12/31/202502/27/202610-K
09/30/202511/07/202510-Q
06/30/202508/11/202510-Q
03/31/202505/09/202510-Q
12/31/202402/28/202510-K
09/30/202411/12/202410-Q
06/30/202408/07/202410-Q
03/31/202405/09/202410-Q
12/31/202302/29/202410-K
09/30/202311/09/202310-Q
06/30/202308/09/202310-Q
03/31/202305/10/202310-Q
12/31/202203/10/202310-K
09/30/202211/09/202210-Q
Collapse to Preview
Report DateFiling DateFiling
06/30/202608/07/202610-Q
03/31/202605/11/202610-Q
12/31/202502/27/202610-K
09/30/202511/07/202510-Q
06/30/202508/11/202510-Q
03/31/202505/09/202510-Q
12/31/202402/28/202510-K
09/30/202411/12/202410-Q
06/30/202408/07/202410-Q
03/31/202405/09/202410-Q
12/31/202302/29/202410-K
09/30/202311/09/202310-Q
06/30/202308/09/202310-Q
03/31/202305/10/202310-Q
12/31/202203/10/202310-K
09/30/202211/09/202210-Q
06/30/202208/09/202210-Q
03/31/202205/10/202210-Q
12/31/202103/16/202210-K
09/30/202111/09/202110-Q
06/30/202108/09/202110-Q
03/31/202105/10/202110-Q
12/31/202003/12/202110-K
09/30/202011/06/202010-Q
06/30/202008/10/202010-Q
03/31/202005/11/202010-Q
12/31/201903/11/202010-K
09/30/201911/12/201910-Q

Recent Forward Guidance

Updated 10/21/2026

Latest: Q3 2026 Earnings Reported 10/20/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q4 2026 DividendsReported 0.65    


Prior: Q4 2025 Earnings Reported 1/22/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q1 2026 DividendsReported 0.5 11.1% Higher NewActual: 0.45 for Q4 2025

Insider Activity

Updated 9/11/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Van, Sistine Peter JDirectSell9112026155.571,848287,4931,188,555Form
2Pearson, Tracy CDirectBuy8242026156.971,024160,737160,737Form
3Sprang, Todd ADirectBuy4232026138.9645062,532280,004Form
4Stayer-Suprick, Michael SDirectBuy4232026140.0422531,509643,764Form
5Eldred, Steven MDirectSell2122026151.958,0001,215,60019,097,076Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Van, Sistine Peter JDirectSell9112026155.571,848287,4931,188,555Form
2Pearson, Tracy CDirectBuy8242026156.971,024160,737160,737Form
3Sprang, Todd ADirectBuy4232026138.9645062,532280,004Form
4Stayer-Suprick, Michael SDirectBuy4232026140.0422531,509643,764Form
5Eldred, Steven MDirectSell2122026151.958,0001,215,60019,097,076Form
6Eldred, Steven MDirectSell2122026145.028,0001,160,16019,386,274Form
7Sprang, Todd ADirectBuy1302026141.0615021,159163,347Form
Core Cache Last Updated: 10/21/2026