Business First Bancshares (NASDAQ:BFST) Hits New 12-Month High – Time to Buy?

Business First Bancshares, Inc. (NASDAQ:BFST)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $31.25 and last traded at $30.99, with a volume of 47872 shares changing hands. The stock had previously closed at $30.73.

Analyst Upgrades and Downgrades

BFST has been the subject of a number of research analyst reports. Stephens set a $33.00 price target on shares of Business First Bancshares in a research note on Monday, April 27th. DA Davidson reissued a “buy” rating and set a $33.00 price objective on shares of Business First Bancshares in a report on Tuesday, April 28th. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat, Business First Bancshares currently has a consensus rating of “Buy” and a consensus price target of $32.33.

Business First Bancshares Trading Down 2.5%

The company has a market cap of $1.00 billion, a price-to-earnings ratio of 10.87 and a beta of 0.78. The firm has a 50-day moving average price of $28.40 and a 200 day moving average price of $27.85. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.39.

Business First Bancshares (NASDAQ:BFST) last posted its quarterly earnings results on Monday, April 27th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.04. Business First Bancshares had a return on equity of 11.10% and a net margin of 17.02%.The business had revenue of $89.25 million for the quarter, compared to analyst estimates of $90.99 million. As a group, sell-side analysts forecast that Business First Bancshares, Inc. will post 3.03 EPS for the current year.

Business First Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were paid a dividend of $0.15 per share. The ex-dividend date was Friday, May 15th. This represents a $0.60 annualized dividend and a yield of 2.0%. Business First Bancshares’s payout ratio is presently 21.28%.

Insider Buying and Selling at Business First Bancshares

In other news, Director George W. Cummings III sold 15,000 shares of the firm’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $28.54, for a total value of $428,100.00. Following the transaction, the director directly owned 281,180 shares in the company, valued at approximately $8,024,877.20. This trade represents a 5.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold 36,595 shares of company stock worth $1,031,732 over the last 90 days. 5.67% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Business First Bancshares

A number of institutional investors have recently modified their holdings of the business. Summit Financial Wealth Advisors LLC bought a new position in Business First Bancshares in the first quarter worth about $1,608,000. Janus Henderson Group PLC grew its holdings in shares of Business First Bancshares by 0.4% during the first quarter. Janus Henderson Group PLC now owns 989,686 shares of the company’s stock valued at $26,761,000 after purchasing an additional 3,540 shares during the last quarter. Empowered Funds LLC raised its position in shares of Business First Bancshares by 3.4% during the 1st quarter. Empowered Funds LLC now owns 121,404 shares of the company’s stock worth $3,283,000 after purchasing an additional 3,997 shares during the period. Quantinno Capital Management LP raised its position in shares of Business First Bancshares by 63.3% during the 1st quarter. Quantinno Capital Management LP now owns 18,033 shares of the company’s stock worth $488,000 after purchasing an additional 6,988 shares during the period. Finally, FreeGulliver LLC bought a new stake in shares of Business First Bancshares in the 1st quarter worth approximately $812,000. Institutional investors own 47.35% of the company’s stock.

About Business First Bancshares

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.