Business First Bancshares (NASDAQ:BFST) Stock Price Expected to Rise, DA Davidson Analyst Says

Business First Bancshares (NASDAQ:BFST) had its price target raised by research analysts at DA Davidson from $33.00 to $35.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. DA Davidson’s price objective suggests a potential upside of 12.32% from the stock’s current price.

BFST has been the subject of a number of other reports. Hovde Group lifted their price target on Business First Bancshares from $32.50 to $36.00 and gave the company an “outperform” rating in a report on Friday. Stephens lifted their price objective on shares of Business First Bancshares from $34.00 to $36.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Business First Bancshares in a research note on Monday, July 6th. Five research analysts have rated the stock with a Buy rating, According to MarketBeat, Business First Bancshares has an average rating of “Buy” and an average target price of $34.50.

Business First Bancshares Price Performance

Shares of NASDAQ:BFST opened at $31.16 on Friday. Business First Bancshares has a twelve month low of $22.56 and a twelve month high of $31.57. The business has a 50 day moving average price of $29.39 and a 200 day moving average price of $28.25. The company has a market cap of $1.02 billion, a price-to-earnings ratio of 11.05 and a beta of 0.78. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.39.

Business First Bancshares (NASDAQ:BFST) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.01. The company had revenue of $91.00 million for the quarter, compared to analyst estimates of $91.31 million. Business First Bancshares had a return on equity of 11.31% and a net margin of 17.07%. Research analysts predict that Business First Bancshares will post 3.03 earnings per share for the current year.

Insider Activity

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

Hedge Funds Weigh In On Business First Bancshares

Several hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp raised its holdings in Business First Bancshares by 255.8% during the first quarter. Bank of New York Mellon Corp now owns 441,853 shares of the company’s stock worth $11,948,000 after acquiring an additional 317,650 shares in the last quarter. Royce & Associates LP grew its stake in shares of Business First Bancshares by 27.0% in the fourth quarter. Royce & Associates LP now owns 823,364 shares of the company’s stock valued at $21,523,000 after buying an additional 175,284 shares in the last quarter. Millennium Management LLC increased its holdings in Business First Bancshares by 1,532.5% during the first quarter. Millennium Management LLC now owns 159,481 shares of the company’s stock worth $3,883,000 after buying an additional 149,712 shares during the last quarter. First Trust Advisors LP lifted its stake in Business First Bancshares by 467.0% in the third quarter. First Trust Advisors LP now owns 107,684 shares of the company’s stock valued at $2,542,000 after acquiring an additional 88,693 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Business First Bancshares by 7.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,165,720 shares of the company’s stock valued at $31,520,000 after acquiring an additional 81,833 shares during the period. Institutional investors own 47.35% of the company’s stock.

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.