Bank First Corp is a United States-based company engaged in providing financial services, a full range of consumer and commercial financial institution services to individuals and businesses, including retail and commercial banking in Wisconsin... Show more
Bank First Corporation shares have traded in a relatively narrow band in recent weeks, hovering in the high $140s to low $150s range. The stock ended the latest session near $148, a decline of about 2.6% from its close roughly 30 days earlier. This measured movement stands in contrast to the larger swings often seen across the broader regional-banking sector, suggesting investors are taking a wait-and-see approach as the company works through two sizable acquisitions.
As a Wisconsin-focused community and commercial bank, Bank First's performance is closely tied to regional economic conditions, deposit costs, and the direction of interest rates. The stock's steadiness reflects a balance between the company's demonstrated earnings growth and lingering questions around integration costs, elevated nonperforming assets, and the timing of full cost synergies.
Bank First Corporation, headquartered in Manitowoc, Wisconsin, is the holding company for Bank First, N.A. The bank provides commercial banking, retail banking, mortgage lending, treasury management, and — following its 2026 acquisitions — trust and wealth management services across Wisconsin. It operates through a relationship-driven branch network and has built a reputation for disciplined capital allocation and steady balance-sheet growth.
The company's strategy emphasizes selective, in-market mergers that expand its footprint and add complementary capabilities. Its competitive strengths include a predominantly core deposit base, conservative underwriting, and a management team that has repeatedly stated it will not pursue growth simply to cross a regulatory asset threshold. That approach has allowed Bank First to maintain solid profitability while navigating an environment of fluctuating interest rates and regional banking consolidation.
Several verified developments have shaped investor sentiment around BFC in recent months. The completion of the Centre 1 Bancorp acquisition on January 1, 2026, added roughly $1.48 billion in assets and marked a 33% expansion of the balance sheet. The transaction also introduced a Trust and Wealth Management unit that generated $1.6 million in noninterest income in each of the first two quarters of 2026.
Financial results have trended upward. Net interest income reached $55.0 million in the second quarter of 2026, up from $53.2 million in the prior quarter, while net interest margin improved from 3.96% to 4.13%. Net income for the second quarter was $24.7 million, or $2.21 per share, with adjusted net income of $27.3 million, or $2.45 per share, after excluding acquisition-related expenses.
The board also raised the quarterly dividend to $0.60 per share, a 9.1% sequential increase and a 33.3% rise from the prior-year period. At the same time, management announced plans to acquire PSB Holdings (Peoples), a transaction expected to close in December 2026 and bring total assets to approximately $7.5 billion. Investors are weighing these growth catalysts against a modest rise in nonperforming assets following the Centre integration and the costs still being absorbed ahead of full system conversions.
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Looking ahead, the primary catalyst for Bank First is the successful integration of the Centre acquisition and the closing of the PSB Holdings deal expected in December 2026. Management has indicated that full realization of cost savings from operational synergies will occur in future quarters, making expense discipline and system conversion milestones key metrics to monitor.
Net interest margin will remain a central focus, as the bank's profitability is sensitive to the path of interest rates and deposit repricing. Credit quality also warrants attention: while nonperforming assets remained a manageable 0.50% of total assets at the end of the first quarter of 2026, the increase from prior levels tied to the Centre portfolio is a point investors will track in subsequent reports.
Broader factors — including regional economic health in Wisconsin, commercial real estate conditions, competitive deposit pricing, and regulatory developments affecting regional banks — will also influence the stock. With roughly $7.5 billion in projected assets after the Peoples closing, Bank First's trajectory toward the $10 billion regulatory threshold and its stated commitment to disciplined growth will continue to shape the long-term investment narrative.
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BFC may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options. In 30 of 39 cases where BFC's price broke its lower Bollinger Band, its price rose further in the following month. The odds of a continued upward trend are 77%.
The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. 38 of 56 cases where BFC's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 68%.
Following a +1.07% 3-day Advance, the price is estimated to grow further. Considering data from situations where BFC advanced for three days, in 176 of 322 cases, the price rose further within the following month. The odds of a continued upward trend are 55%.
The Momentum Indicator moved below the 0 level on October 07, 2026. You may want to consider selling the stock, shorting the stock, or exploring put options on BFC as a result. In 48 of 105 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are 46%.
The Moving Average Convergence Divergence Histogram (MACD) for BFC turned negative on October 07, 2026. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 52 similar instances when the indicator turned negative. In 27 of the 52 cases the stock turned lower in the days that followed. This puts the odds of success at 52%.
BFC moved below its 50-day moving average on October 05, 2026 date and that indicates a change from an upward trend to a downward trend.
The 10-day moving average for BFC crossed bearishly below the 50-day moving average on September 23, 2026. This indicates that the trend has shifted lower and could be considered a sell signal. In 14 of 23 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are 61%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where BFC declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 44%.
The Aroon Indicator for BFC entered a downward trend on October 21, 2026. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
The Tickeron Profit vs. Risk Rating rating for this company is 12 (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 57, placing this stock better than average.
The Tickeron SMR rating for this company is 30 (best 1 - 100 worst), indicating very strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron PE Growth Rating for this company is 38 (best 1 - 100 worst), pointing to consistent earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Price Growth Rating for this company is 47 (best 1 - 100 worst), indicating steady price growth. BFC’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Seasonality Score of 85 (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The Tickeron Valuation Rating of 94 (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (1.922) is normal, around the industry mean (1.246). P/E Ratio (18.471) is within average values for comparable stocks, (13.217). Projected Growth (PEG Ratio) (0.280) is also within normal values, averaging (1.190). Dividend Yield (0.017) settles around the average of (0.035) among similar stocks. BFC's P/S Ratio (7.358) is very high in comparison to the industry average of (3.738).
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a regional bank
Industry RegionalBanks