Business First Bancshares (NASDAQ:BFST) Hits New 52-Week High – Here’s Why

Business First Bancshares, Inc. (NASDAQ:BFST)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $32.53 and last traded at $32.3950, with a volume of 4453 shares changing hands. The stock had previously closed at $32.18.

Wall Street Analyst Weigh In

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

Business First Bancshares Trading Down 0.5%

The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market capitalization of $1.05 billion, a PE ratio of 11.39 and a beta of 0.78. The stock’s 50-day simple moving average is $30.57 and its 200-day simple moving average is $28.77.

Business First Bancshares (NASDAQ:BFST) last posted its earnings results on Thursday, July 23rd. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.70 by $0.01. Business First Bancshares had a net margin of 17.07% and a return on equity of 11.03%. The firm had revenue of $91.81 million during the quarter, compared to analysts’ expectations of $91.31 million. As a group, sell-side analysts expect that Business First Bancshares, Inc. will post 3.02 EPS for the current fiscal year.

Business First Bancshares Announces Dividend

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

Insider Transactions at Business First Bancshares

In other news, EVP Donald Chad Carter sold 1,875 shares of the stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $31.64, for a total value of $59,325.00. Following the completion of the transaction, the executive vice president owned 12,642 shares of the company’s stock, valued at approximately $399,992.88. This represents a 12.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director George W. Cummings III sold 15,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director owned 281,180 shares of the company’s stock, valued at approximately $8,024,877.20. The trade was a 5.06% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 75,670 shares of company stock worth $2,276,973. 5.67% of the stock is owned by insiders.

Hedge Funds Weigh In On Business First Bancshares

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Gator Capital Management LLC grew its position in shares of Business First Bancshares by 0.9% in the 4th quarter. Gator Capital Management LLC now owns 65,967 shares of the company’s stock worth $1,724,000 after buying an additional 590 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Business First Bancshares by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,343 shares of the company’s stock worth $349,000 after acquiring an additional 624 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Business First Bancshares by 0.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 242,669 shares of the company’s stock valued at $6,343,000 after acquiring an additional 858 shares during the period. Intech Investment Management LLC lifted its position in Business First Bancshares by 9.6% during the 3rd quarter. Intech Investment Management LLC now owns 12,240 shares of the company’s stock valued at $289,000 after acquiring an additional 1,074 shares during the period. Finally, Smartleaf Asset Management LLC lifted its position in Business First Bancshares by 15,600.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,099 shares of the company’s stock valued at $29,000 after acquiring an additional 1,092 shares during the period. Hedge funds and other 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.