Summit Financial Wealth Advisors LLC Takes $1.61 Million Position in Business First Bancshares, Inc. $BFST

Summit Financial Wealth Advisors LLC bought a new position in shares of Business First Bancshares, Inc. (NASDAQ:BFST) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 59,449 shares of the company’s stock, valued at approximately $1,608,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Smartleaf Asset Management LLC grew its stake in Business First Bancshares by 15,600.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,099 shares of the company’s stock valued at $29,000 after buying an additional 1,092 shares during the last quarter. FWL Investment Management LLC bought a new stake in shares of Business First Bancshares during the third quarter worth approximately $42,000. Tower Research Capital LLC TRC boosted its holdings in shares of Business First Bancshares by 389.7% during the second quarter. Tower Research Capital LLC TRC now owns 2,669 shares of the company’s stock worth $66,000 after acquiring an additional 2,124 shares during the period. CWM LLC grew its position in shares of Business First Bancshares by 36.5% in the fourth quarter. CWM LLC now owns 4,446 shares of the company’s stock valued at $116,000 after purchasing an additional 1,188 shares during the last quarter. Finally, Virtus Advisers LLC acquired a new position in shares of Business First Bancshares in the third quarter valued at approximately $123,000. Institutional investors own 47.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Stephens increased their target price on Business First Bancshares from $34.00 to $36.00 and gave the stock an “overweight” rating in a research note on Friday, July 24th. Hovde Group upped their price objective on Business First Bancshares from $32.50 to $36.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of Business First Bancshares in a research report on Monday, July 6th. Finally, DA Davidson lifted their target price on Business First Bancshares from $33.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Five investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Business First Bancshares presently has an average rating of “Buy” and an average target price of $34.50.

Business First Bancshares Stock Performance

Shares of NASDAQ:BFST opened at $31.82 on Friday. Business First Bancshares, Inc. has a 12-month low of $22.56 and a 12-month high of $32.39. The company’s 50 day moving average price is $29.81 and its two-hundred day moving average price is $28.43. The firm has a market cap of $1.04 billion, a PE ratio of 11.28 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 released its quarterly earnings results on Thursday, July 23rd. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.01. The company had revenue of $91.81 million during the quarter, compared to the consensus estimate of $91.31 million. Business First Bancshares had a net margin of 17.07% and a return on equity of 11.31%. Equities research analysts predict that Business First Bancshares, Inc. will post 3.02 earnings per share for the current year.

Business First Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Saturday, August 15th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $0.60 annualized dividend and a yield of 1.9%. Business First Bancshares’s payout ratio is currently 21.28%.

Key Stories Impacting Business First Bancshares

Here are the key news stories impacting Business First Bancshares this week:

• Positive Sentiment: Analysts remain bullish following the quarterly results: Stephens and Hovde Group raised their price targets to $36, while DA Davidson lifted its target to $35. The consensus rating is “Buy,” with an average target of $34.50, implying additional upside from recent levels.
• Positive Sentiment: Business First Bancshares reported quarterly EPS of $0.71, slightly ahead of the $0.70 consensus estimate. The bank also maintains a quarterly dividend of $0.15 per share, or $0.60 annualized, representing a yield of approximately 1.9% and a payout ratio of 21.28%.
• Positive Sentiment: Director Rick Day purchased 1,500 shares for approximately $47,415, modestly increasing his ownership and providing a small vote of confidence from an insider. Insider Buying: Business First Bancshares Director Acquires Shares
• Neutral Sentiment: BFST trades above both its 50-day and 200-day moving averages and near its 52-week high, indicating strong recent momentum but also leaving the stock more sensitive to profit-taking. Institutional investors own approximately 47.35% of the shares.
• Negative Sentiment: Several insiders sold shares in recent transactions. Director George W. Cummings III sold a combined 20,000 shares for roughly $639,400, COO Keith Mansfield sold 4,200 shares for $134,736, and Director Joseph Vernon Johnson sold 12,000 shares for approximately $379,800. Although each executive retains a substantial stake, the cluster of sales may be interpreted as a near-term caution signal. Business First Bancshares Insider Sale SEC Filing

Insider Buying and Selling

In related news, COO Keith Mansfield sold 4,200 shares of the firm’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $32.08, for a total value of $134,736.00. Following the transaction, the chief operating officer owned 77,139 shares in the company, valued at approximately $2,474,619.12. This trade represents a 5.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph Vernon Johnson sold 10,000 shares of the business’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $31.75, for a total value of $317,500.00. Following the completion of the transaction, the director directly owned 174,073 shares of the company’s stock, valued at approximately $5,526,817.75. This trade represents a 5.43% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 72,795 shares of company stock valued at $2,185,668 over the last 90 days. 5.67% of the stock is currently owned by insiders.

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.