Business First Bancshares (NASDAQ:BFST) Shares Down 0.2% – Time to Sell?

Business First Bancshares, Inc. (NASDAQ:BFST) shares dropped 0.2% during trading on Monday . The company traded as low as $26.07 and last traded at $26.35. Approximately 59,881 shares changed hands during trading, a decline of 43% from the average daily volume of 105,249 shares. The stock had previously closed at $26.39.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BFST. DA Davidson assumed coverage on Business First Bancshares in a research note on Tuesday, November 25th. They set a “buy” rating and a $32.00 price objective on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Business First Bancshares in a research report on Wednesday, October 8th. Finally, Raymond James Financial lifted their target price on shares of Business First Bancshares from $30.00 to $31.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 7th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Business First Bancshares has an average rating of “Moderate Buy” and a consensus price target of $31.50.

Business First Bancshares Price Performance

The business’s fifty day moving average is $26.25 and its 200-day moving average is $25.11. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market cap of $780.22 million, a PE ratio of 10.17 and a beta of 0.86.

Business First Bancshares (NASDAQ:BFST) last released its earnings results on Thursday, October 23rd. The company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.03. Business First Bancshares had a net margin of 15.94% and a return on equity of 11.08%. The firm had revenue of $80.95 million for the quarter, compared to analysts’ expectations of $80.50 million. On average, research analysts predict that Business First Bancshares, Inc. will post 2.72 earnings per share for the current fiscal year.

Business First Bancshares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, November 30th. Shareholders of record on Saturday, November 15th were paid a $0.15 dividend. The ex-dividend date was Friday, November 14th. This is a boost from Business First Bancshares’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a dividend yield of 2.3%. Business First Bancshares’s dividend payout ratio is presently 23.17%.

Business First Bancshares declared that its Board of Directors has approved a share repurchase plan on Tuesday, October 28th that permits the company to buyback $30.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 4.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Business First Bancshares

In related news, CFO Greg Robertson sold 1,400 shares of Business First Bancshares stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $26.41, for a total value of $36,974.00. Following the completion of the sale, the chief financial officer owned 67,835 shares of the company’s stock, valued at approximately $1,791,522.35. This trade represents a 2.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Rick D. Day acquired 1,600 shares of the company’s stock in a transaction on Tuesday, October 28th. The shares were acquired at an average cost of $24.21 per share, for a total transaction of $38,736.00. Following the completion of the acquisition, the director owned 265,885 shares of the company’s stock, valued at approximately $6,437,075.85. The trade was a 0.61% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 6.45% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Security National Bank purchased a new position in Business First Bancshares during the second quarter valued at approximately $418,000. Farther Finance Advisors LLC bought a new position in Business First Bancshares in the 2nd quarter valued at $72,000. American Century Companies Inc. grew its position in shares of Business First Bancshares by 6.3% during the 2nd quarter. American Century Companies Inc. now owns 649,100 shares of the company’s stock valued at $16,000,000 after purchasing an additional 38,370 shares in the last quarter. Polaris Capital Management LLC increased its holdings in shares of Business First Bancshares by 18.5% in the second quarter. Polaris Capital Management LLC now owns 77,000 shares of the company’s stock worth $1,898,000 after purchasing an additional 12,000 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Business First Bancshares during the second quarter valued at $346,000. 47.35% of the stock is owned by institutional investors.

Business First Bancshares Company Profile

Business First Bancshares, Inc is the bank holding company for Business First Bank, a regional community bank headquartered in Louisville, Kentucky. Through its wholly owned subsidiary, the company provides a full suite of commercial and retail banking services to small and medium-sized businesses, professionals and individual consumers. Business First Bancshares operates under a community-focused model, emphasizing personalized service, local decision-making and relationship banking.

The company’s primary business activities include commercial lending, treasury and cash management, and deposit services.