Key Points
- Insider purchase: Director Rick Day bought 1,500 shares on Jan. 27 at an average of $27.55 ($41,325 total), raising his stake to 267,385 shares (a 0.56% increase).
- Capital return actions: The company announced a $0.15 quarterly dividend (annualized $0.60, ~2.2% yield) with record date Feb. 15 and authorized a $30.00 million share buyback program (up to ~4.2% of shares).
- Recent results showed an EPS beat of $0.79 vs. $0.72 consensus (but revenue missed), and analysts have raised price targets, leaving a consensus rating of Moderate Buy with a $33.00 target.
Business First Bancshares, Inc. (NASDAQ:BFST - Get Free Report) Director Rick Day purchased 1,500 shares of the company's stock in a transaction that occurred on Tuesday, January 27th. The stock was bought at an average price of $27.55 per share, for a total transaction of $41,325.00. Following the transaction, the director directly owned 267,385 shares in the company, valued at $7,366,456.75. This trade represents a 0.56% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Business First Bancshares Trading Down 0.7%
Shares of BFST stock opened at $27.26 on Wednesday. The company has a market capitalization of $807.30 million, a P/E ratio of 9.77 and a beta of 0.86. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.58. The business's 50 day moving average is $26.76 and its two-hundred day moving average is $25.22. Business First Bancshares, Inc. has a twelve month low of $20.07 and a twelve month high of $28.84.
Business First Bancshares (NASDAQ:BFST - Get Free Report) last released its quarterly earnings results on Thursday, January 22nd. The company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.72 by $0.07. Business First Bancshares had a return on equity of 11.41% and a net margin of 17.01%.The business had revenue of $69.44 million during the quarter, compared to analysts' expectations of $81.41 million. Equities analysts forecast that Business First Bancshares, Inc. will post 2.72 EPS for the current year.
Business First Bancshares Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Saturday, February 28th. Stockholders of record on Sunday, February 15th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Friday, February 13th. Business First Bancshares's dividend payout ratio (DPR) is 21.51%.
Business First Bancshares declared that its Board of Directors has initiated a share repurchase program on Tuesday, October 28th that permits the company to buyback $30.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 4.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its stock is undervalued.
Institutional Trading of Business First Bancshares
A number of institutional investors have recently bought and sold shares of the company. Farther Finance Advisors LLC acquired a new stake in Business First Bancshares during the 2nd quarter valued at $72,000. American Century Companies Inc. lifted its position in shares of Business First Bancshares by 6.3% in the second quarter. American Century Companies Inc. now owns 649,100 shares of the company's stock valued at $16,000,000 after acquiring an additional 38,370 shares in the last quarter. Polaris Capital Management LLC boosted its stake in shares of Business First Bancshares by 18.5% during the second quarter. Polaris Capital Management LLC now owns 77,000 shares of the company's stock valued at $1,898,000 after acquiring an additional 12,000 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Business First Bancshares during the 2nd quarter worth about $346,000. Finally, Geode Capital Management LLC increased its position in Business First Bancshares by 13.4% during the 2nd quarter. Geode Capital Management LLC now owns 697,274 shares of the company's stock worth $17,190,000 after purchasing an additional 82,349 shares in the last quarter. 47.35% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities research analysts have weighed in on BFST shares. DA Davidson lifted their price objective on Business First Bancshares from $32.00 to $33.00 and gave the company a "buy" rating in a report on Monday. Raymond James Financial lifted their price target on Business First Bancshares from $30.00 to $31.00 and gave the company an "outperform" rating in a research note on Wednesday, January 7th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Business First Bancshares in a research report on Wednesday, January 21st. Finally, Stephens raised their target price on Business First Bancshares from $34.00 to $35.00 and gave the company an "overweight" rating in a report on Friday. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $33.00.
Check Out Our Latest Research Report on Business First Bancshares
About Business First Bancshares
(
Get Free Report)
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.
Further Reading
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