Business First Bancshares (NASDAQ:BFST) Reaches New 52-Week High at $26.85

Shares of Business First Bancshares, Inc. (NASDAQ:BFST) hit a new 52-week high during trading on Wednesday . The company traded as high as $26.85 and last traded at $26.45, with a volume of 74302 shares traded. The stock had previously closed at $26.13.

Wall Street Analysts Forecast Growth

Separately, Hovde Group boosted their target price on shares of Business First Bancshares from $29.00 to $30.00 and gave the company an “outperform” rating in a report on Friday, July 26th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $26.67.

Business First Bancshares Stock Up 0.2 %

The stock has a market capitalization of $667.90 million, a price-to-earnings ratio of 10.29 and a beta of 0.97. The business has a 50-day moving average of $23.74 and a 200-day moving average of $22.05. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.98 and a current ratio of 0.98.

Business First Bancshares (NASDAQ:BFST) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.13. Business First Bancshares had a net margin of 15.90% and a return on equity of 12.19%. The business had revenue of $112.05 million during the quarter, compared to analysts’ expectations of $63.16 million. During the same period last year, the business earned $0.70 earnings per share. On average, sell-side analysts expect that Business First Bancshares, Inc. will post 2.13 EPS for the current year.

Business First Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Saturday, August 31st. Stockholders of record on Thursday, August 15th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.56 annualized dividend and a dividend yield of 2.14%. Business First Bancshares’s dividend payout ratio is currently 22.05%.

Insider Activity

In related news, insider Warren Mcdonald sold 1,500 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $24.68, for a total transaction of $37,020.00. Following the completion of the transaction, the insider now directly owns 19,095 shares in the company, valued at approximately $471,264.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Warren Mcdonald sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $24.68, for a total transaction of $37,020.00. Following the sale, the insider now directly owns 19,095 shares of the company’s stock, valued at approximately $471,264.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Saundra Strong sold 6,300 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $25.32, for a total transaction of $159,516.00. Following the completion of the transaction, the executive vice president now directly owns 11,275 shares of the company’s stock, valued at approximately $285,483. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,906 shares of company stock valued at $377,392. 6.45% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Business First Bancshares

A number of hedge funds have recently bought and sold shares of BFST. Teacher Retirement System of Texas acquired a new stake in Business First Bancshares in the fourth quarter valued at approximately $326,000. Avantax Advisory Services Inc. acquired a new stake in shares of Business First Bancshares in the 4th quarter valued at $225,000. Panagora Asset Management Inc. purchased a new stake in shares of Business First Bancshares during the 4th quarter worth $216,000. The Manufacturers Life Insurance Company grew its stake in shares of Business First Bancshares by 0.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 494,253 shares of the company’s stock worth $12,183,000 after purchasing an additional 3,358 shares in the last quarter. Finally, Ranger Investment Management L.P. increased its holdings in Business First Bancshares by 5.4% in the fourth quarter. Ranger Investment Management L.P. now owns 333,918 shares of the company’s stock valued at $8,231,000 after buying an additional 17,095 shares during the last quarter. Institutional investors and hedge funds own 47.35% of the company’s stock.

Business First Bancshares Company Profile

Business First Bancshares, Inc operates as the bank holding company for b1BANK that provides various banking products and services in Louisiana and Texas. It offers various deposit products and services, including checking, demand, money market, time, and savings accounts; and certificates of deposits, remote deposit capture, and direct deposit services.