Business First Bancshares (NASDAQ:BFST) Sees Large Volume Increase

Business First Bancshares, Inc. (NASDAQ:BFST) shares saw an uptick in trading volume on Friday . 48,451 shares traded hands during mid-day trading, a decline of 19% from the previous session’s volume of 60,090 shares.The stock last traded at $26.24 and had previously closed at $26.63.

Analyst Ratings Changes

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

Business First Bancshares Stock Performance

The stock has a fifty day simple moving average of $23.91 and a two-hundred day simple moving average of $22.11. The stock has a market cap of $675.80 million, a price-to-earnings ratio of 10.48 and a beta of 0.97. 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 issued its 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 return on equity of 12.19% and a net margin of 15.90%. The firm had revenue of $112.05 million for the quarter, compared to the consensus estimate of $63.16 million. During the same quarter last year, the business posted $0.70 EPS. Analysts expect that Business First Bancshares, Inc. will post 2.13 EPS for the current fiscal year.

Business First Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Saturday, August 31st. Investors of record on Thursday, August 15th were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 2.11%. The ex-dividend date was Thursday, August 15th. Business First Bancshares’s dividend payout ratio (DPR) is 22.05%.

Insider Activity at Business First Bancshares

In related news, EVP Saundra Strong sold 6,300 shares of the firm’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $25.32, for a total transaction of $159,516.00. Following the sale, the executive vice president now owns 11,275 shares of the company’s stock, valued at approximately $285,483. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Warren Mcdonald sold 1,500 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $471,264.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Saundra Strong sold 6,300 shares of the firm’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $25.32, for a total value of $159,516.00. Following the transaction, the executive vice president now directly owns 11,275 shares of the company’s stock, valued at $285,483. The disclosure for this sale can be found here. Insiders have sold a total of 14,906 shares of company stock valued at $377,392 in the last 90 days. 6.45% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Argent Advisors Inc. raised its position in Business First Bancshares by 4.0% during the 2nd quarter. Argent Advisors Inc. now owns 12,949 shares of the company’s stock worth $282,000 after purchasing an additional 497 shares during the last quarter. ELCO Management Co. LLC raised its position in Business First Bancshares by 3.0% during the 2nd quarter. ELCO Management Co. LLC now owns 20,307 shares of the company’s stock worth $442,000 after purchasing an additional 585 shares during the last quarter. Cornercap Investment Counsel Inc. raised its position in shares of Business First Bancshares by 3.3% in the 2nd quarter. Cornercap Investment Counsel Inc. now owns 21,970 shares of the company’s stock worth $478,000 after acquiring an additional 708 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Business First Bancshares by 5.6% in the 1st quarter. SG Americas Securities LLC now owns 14,506 shares of the company’s stock worth $323,000 after acquiring an additional 771 shares in the last quarter. Finally, ClariVest Asset Management LLC raised its position in shares of Business First Bancshares by 2.9% in the 2nd quarter. ClariVest Asset Management LLC now owns 41,849 shares of the company’s stock worth $911,000 after acquiring an additional 1,170 shares in the last quarter. 47.35% of the stock is owned by institutional investors.

About Business First Bancshares

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.