Key Points
- Insider sale: EVP Donald Chad Carter sold 3,778 shares at an average price of $27.27 for $103,026, reducing his stake by 21.42% to 13,863 shares (SEC filing).
- Company updates and outlook: Business First Bancshares reported Q4 EPS of $0.79 (beat) but revenue missed estimates, announced a $0.15 quarterly dividend (2.1% yield) and a $30M buyback (~4.2% of shares), while analysts have been raising price targets to an average of $33.
Business First Bancshares, Inc. (NASDAQ:BFST - Get Free Report) EVP Donald Chad Carter sold 3,778 shares of Business First Bancshares stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of $27.27, for a total value of $103,026.06. Following the completion of the sale, the executive vice president owned 13,863 shares of the company's stock, valued at approximately $378,044.01. The trade was a 21.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Business First Bancshares Trading Up 2.0%
Shares of NASDAQ BFST opened at $28.17 on Friday. The company's 50 day simple moving average is $26.91 and its 200 day simple moving average is $25.27. The firm has a market capitalization of $834.25 million, a P/E ratio of 10.10 and a beta of 0.86. Business First Bancshares, Inc. has a fifty-two week low of $20.07 and a fifty-two week high of $28.84. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.00 and a quick ratio of 1.00.
Business First Bancshares (NASDAQ:BFST - Get Free Report) last posted its quarterly earnings results on Thursday, January 22nd. The company reported $0.79 earnings per share for the quarter, beating analysts' consensus estimates of $0.72 by $0.07. The company had revenue of $69.44 million for the quarter, compared to the consensus estimate of $81.41 million. Business First Bancshares had a return on equity of 11.41% and a net margin of 17.01%. On average, analysts predict 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. Shareholders of record on Sunday, February 15th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Friday, February 13th. Business First Bancshares's dividend payout ratio is presently 21.51%.
Business First Bancshares announced that its Board of Directors has approved a stock buyback plan on Tuesday, October 28th that permits the company to repurchase $30.00 million in shares. This repurchase authorization permits the company to reacquire up to 4.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its shares are undervalued.
Analyst Ratings Changes
Several brokerages recently issued reports on BFST. Weiss Ratings reiterated a "hold (c+)" rating on shares of Business First Bancshares in a research report on Wednesday, January 21st. DA Davidson increased their price objective on shares of Business First Bancshares from $32.00 to $33.00 and gave the stock a "buy" rating in a research note on Monday, January 26th. Stephens raised their target price on shares of Business First Bancshares from $34.00 to $35.00 and gave the company an "overweight" rating in a research note on Friday, January 23rd. Finally, Raymond James Financial lifted their price target on Business First Bancshares from $30.00 to $31.00 and gave the stock an "outperform" rating in a report on Wednesday, January 7th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $33.00.
Read Our Latest Research Report on Business First Bancshares
Institutional Investors Weigh In On Business First Bancshares
A number of hedge funds and other institutional investors have recently made changes to their positions in BFST. Farther Finance Advisors LLC acquired a new stake in shares of Business First Bancshares during the 2nd quarter worth approximately $72,000. American Century Companies Inc. lifted its stake in shares of Business First Bancshares by 6.3% in the 2nd 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 during the last quarter. Polaris Capital Management LLC raised its position in Business First Bancshares by 18.5% in the second quarter. Polaris Capital Management LLC now owns 77,000 shares of the company's stock valued at $1,898,000 after purchasing an additional 12,000 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Business First Bancshares in the 2nd quarter valued at approximately $346,000. Finally, Geode Capital Management LLC increased its position in Business First Bancshares by 13.4% in the 2nd quarter. Geode Capital Management LLC now owns 697,274 shares of the company's stock valued at $17,190,000 after acquiring an additional 82,349 shares during the period. 47.35% of the stock is currently owned by institutional investors and hedge funds.
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.
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