Key Points
- Insider sale: Business First Bancshares director George Cummings III sold 10,000 shares on May 22 at an average price of $27.99, reducing his holdings by 3.15% to 307,775 shares.
- Company performance: BFST was trading around $28.13, near its 50-day and 200-day moving averages, with a market value of about $919 million and a P/E ratio of 9.98.
- Dividend and outlook: The company reported quarterly EPS of $0.73, beating estimates, and announced a $0.15 per-share quarterly dividend, while analysts maintain a consensus Buy rating with a $32.33 price target.
Business First Bancshares, Inc. (NASDAQ:BFST - Get Free Report) Director George Cummings III sold 10,000 shares of the business's stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $27.99, for a total value of $279,900.00. Following the sale, the director directly owned 307,775 shares in the company, valued at $8,614,622.25. The trade was a 3.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Business First Bancshares Trading Down 0.2%
Shares of NASDAQ BFST opened at $28.13 on Thursday. The business's 50 day moving average is $27.55 and its two-hundred day moving average is $27.26. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.98 and a quick ratio of 0.98. Business First Bancshares, Inc. has a 1-year low of $22.51 and a 1-year high of $30.32. The stock has a market capitalization of $919.29 million, a P/E ratio of 9.98 and a beta of 0.79.
Business First Bancshares (NASDAQ:BFST - Get Free Report) last issued its quarterly earnings data on Monday, April 27th. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.04. Business First Bancshares had a return on equity of 11.10% and a net margin of 17.02%.The company had revenue of $89.25 million for the quarter, compared to analysts' expectations of $90.99 million. As a group, research analysts expect that Business First Bancshares, Inc. will post 3 EPS for the current year.
Business First Bancshares Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 15th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Friday, May 15th. Business First Bancshares's payout ratio is presently 21.28%.
Institutional Trading of Business First Bancshares
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Business First Bancshares by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 1,591,098 shares of the company's stock worth $37,566,000 after purchasing an additional 17,690 shares during the period. Dimensional Fund Advisors LP raised its position in Business First Bancshares by 7.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,165,720 shares of the company's stock worth $31,520,000 after purchasing an additional 81,833 shares during the period. Janus Henderson Group PLC lifted its holdings in Business First Bancshares by 0.4% during the 1st quarter. Janus Henderson Group PLC now owns 989,686 shares of the company's stock valued at $26,761,000 after buying an additional 3,540 shares in the last quarter. Royce & Associates LP lifted its holdings in Business First Bancshares by 27.0% during the 4th quarter. Royce & Associates LP now owns 823,364 shares of the company's stock valued at $21,523,000 after buying an additional 175,284 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Business First Bancshares by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 731,206 shares of the company's stock valued at $19,119,000 after buying an additional 14,576 shares in the last quarter. 47.35% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on BFST shares. Weiss Ratings raised shares of Business First Bancshares from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, February 11th. Stephens set a $33.00 price objective on shares of Business First Bancshares in a research report on Monday, April 27th. Finally, DA Davidson reissued a "buy" rating and issued a $33.00 price objective on shares of Business First Bancshares in a research report on Tuesday, April 28th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $32.33.
Read 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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