Is Bank First Corp. overvalued or undervalued?

As of 22 May 2025, the valuation grade for Bank First Corp. has moved from fair to expensive, indicating a shift in perception regarding its market value. The company appears to be overvalued at this time. Key ratios include a P/E ratio of 18, a Price to Book Value of 1.90, and an EV to EBIT of 14.17, which are higher than many of its peers.
In comparison, German American Bancorp, Inc. has a P/E ratio of 18.35, while Berkshire Hills Bancorp, Inc. is more attractively valued with a P/E of 10.45. This suggests that Bank First Corp. is trading at a premium relative to some of its competitors. Additionally, the company's recent stock performance has outpaced the S&P 500 over the past year, returning 46.74% compared to the index's 10.26%, which may have contributed to the elevated valuation.