Definitive Analysis
Definitive Analysis

Financial Statements

Analysis Mode

Ticker

Industry

Sector

Bank First Corporation (BFC)

Company Dividend Discount ModelIndustry: Banks - RegionalSector: Financial Services

Valuation Snapshot

Stable Growth$262.79 - $1,414.90$515.95
Multi-Stage$155.10 - $169.27$162.05
Blended Fair Value$339.00
Current Price$121.31
Upside179.45%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS23.29%18.25%1.571.200.790.880.620.550.460.410.370.32
YoY Growth--30.13%52.89%-10.43%42.07%12.52%20.60%11.96%10.37%14.28%10.16%
Dividend Yield--1.56%1.46%1.07%1.22%0.83%0.98%0.77%0.88%1.05%1.20%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)70.65
(-) Cash Dividends Paid (M)52.15
(=) Cash Retained (M)18.50
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)14.138.835.30
Cash Retained (M)18.5018.5018.50
(-) Cash Required (M)-14.13-8.83-5.30
(=) Excess Retained (M)4.379.6713.20
(/) Shares Outstanding (M)9.939.939.93
(=) Excess Retained per Share0.440.971.33
LTM Dividend per Share5.255.255.25
(+) Excess Retained per Share0.440.971.33
(=) Adjusted Dividend5.696.236.58
WACC / Discount Rate7.78%7.78%7.78%
Growth Rate5.50%6.50%7.50%
Fair Value$262.79$515.95$1,414.90
Upside / Downside116.63%325.32%1,066.35%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)70.6575.2480.1385.3490.8896.7999.69
Payout Ratio73.82%77.05%80.29%83.53%86.76%90.00%92.50%
Projected Dividends (M)52.1557.9764.3471.2878.8587.1192.22

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.78%7.78%7.78%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)53.2853.7954.29
Year 2 PV (M)54.3455.3856.42
Year 3 PV (M)55.3356.9258.54
Year 4 PV (M)56.2658.4260.65
Year 5 PV (M)57.1259.8862.75
PV of Terminal Value (M)1,263.741,324.781,388.16
Equity Value (M)1,540.081,609.171,680.81
Shares Outstanding (M)9.939.939.93
Fair Value$155.10$162.05$169.27
Upside / Downside27.85%33.59%39.53%

High-Yield Dividend Screener

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