Zacks Research Downgrades Bank First National to Hold

The financial research firm cites a shift in its rating for the Wisconsin-based community bank.

Mar. 28, 2026 at 10:51am

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Zacks Research has downgraded shares of Bank First National (NASDAQ:BFC) from a 'strong-buy' rating to a 'hold' rating in a new report issued on Thursday. The move comes as several other equity analysts have also recently weighed in on the company, with some upgrading and others downgrading the stock.

Why it matters

Bank First National is a community bank based in Princeton, Wisconsin that offers a range of financial services to individuals, families, small businesses, and agricultural clients. The change in Zacks' rating could impact investor sentiment and the stock price, potentially affecting the bank's ability to raise capital or make strategic decisions.

The details

In its report, Zacks cited a number of factors that led to the downgrade, including a recent increase in the bank's share price and valuation. Other analysts have taken different stances, with Scotiabank upgrading the stock to 'sector outperform' and Weiss Ratings reaffirming a 'buy' rating, while Piper Sandler and Wall Street Zen have lowered their views.

  • Zacks Research issued the downgrade report on Thursday, March 28, 2026.

The players

Bank First National

A community bank headquartered in Princeton, Wisconsin that offers a range of financial services to individuals, families, small businesses, and agricultural clients.

Zacks Research

An equity research firm that provides investment research and analysis to investors.

Scotiabank

A Canadian multinational bank that has upgraded Bank First National's rating.

Weiss Ratings

A financial research firm that has reaffirmed a 'buy' rating on Bank First National's stock.

Piper Sandler

An investment bank that has lowered its rating on Bank First National.

Wall Street Zen

A financial research firm that has downgraded Bank First National's stock.

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What’s next

Investors will be closely watching to see if Bank First National's stock price is impacted by the Zacks Research downgrade, and whether the bank's management team responds to the change in rating.

The takeaway

The mixed analyst views on Bank First National highlight the challenges facing community banks in the current economic environment, as they navigate factors like rising interest rates, increased competition, and regulatory changes.