Key Points
- Executive sale: EVP Donald Chad Carter sold 1,875 Business First Bancshares shares for $59,325 at an average price of $31.64, reducing his direct stake by 12.92% to 12,642 shares.
- Financial performance and dividend: The company reported quarterly EPS of $0.71, slightly exceeding estimates, on $91.81 million in revenue. It declared a quarterly dividend of $0.15 per share, equivalent to a 1.9% annual yield.
- Positive investor sentiment: Institutional investors own 47.35% of the stock, while analysts maintain a consensus “Buy” rating with an average price target of $34.50.
Business First Bancshares, Inc. (NASDAQ:BFST - Get Free Report) EVP Donald Chad Carter sold 1,875 shares of the company's stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $31.64, for a total transaction of $59,325.00. Following the sale, the executive vice president directly owned 12,642 shares of the company's stock, valued at approximately $399,992.88. This represents a 12.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.
Business First Bancshares Stock Down 0.2%
BFST stock opened at $31.66 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.98 and a debt-to-equity ratio of 0.60. The firm has a 50-day moving average of $30.18 and a two-hundred day moving average of $28.61. Business First Bancshares, Inc. has a 12 month low of $22.56 and a 12 month high of $32.39. The company has a market cap of $1.03 billion, a price-to-earnings ratio of 11.23 and a beta of 0.78.
Business First Bancshares (NASDAQ:BFST - Get Free Report) last issued its earnings results on Thursday, July 23rd. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.01. The business had revenue of $91.81 million for the quarter, compared to analysts' expectations of $91.31 million. Business First Bancshares had a return on equity of 11.03% and a net margin of 17.07%. As a group, analysts forecast that Business First Bancshares, Inc. will post 3.02 earnings per share for the current fiscal year.
Business First Bancshares Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Saturday, August 15th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, August 14th. This represents a $0.60 dividend on an annualized basis and a yield of 1.9%. Business First Bancshares's dividend payout ratio (DPR) is presently 21.28%.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in shares of Business First Bancshares during the second quarter worth $83,985,000. Bank of New York Mellon Corp acquired a new stake in shares of Business First Bancshares in the second quarter valued at $13,853,000. Royce & Associates LP raised its holdings in shares of Business First Bancshares by 27.0% in 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 during the period. Millennium Management LLC raised its holdings in shares of Business First Bancshares by 1,532.5% in the 1st quarter. Millennium Management LLC now owns 159,481 shares of the company's stock valued at $3,883,000 after buying an additional 149,712 shares during the period. Finally, First Trust Advisors LP lifted its stake in Business First Bancshares by 467.0% during the 3rd quarter. First Trust Advisors LP now owns 107,684 shares of the company's stock worth $2,542,000 after acquiring an additional 88,693 shares in the last quarter. Hedge funds and other institutional investors own 47.35% of the company's stock.
Analyst Ratings Changes
Several analysts have issued reports on the company. Weiss Ratings restated a "buy (b)" rating on shares of Business First Bancshares in a report on Monday, July 6th. DA Davidson lifted their price target on Business First Bancshares from $33.00 to $35.00 and gave the stock a "buy" rating in a report on Friday, July 24th. Hovde Group boosted their price target on shares of Business First Bancshares from $32.50 to $36.00 and gave the company an "outperform" rating in a research report on Friday, July 24th. Finally, Stephens boosted their price target on shares of Business First Bancshares from $34.00 to $36.00 and gave the company an "overweight" rating in a research report on Friday, July 24th. Five research analysts have rated the stock with a Buy rating, According to MarketBeat, Business First Bancshares currently has a consensus rating of "Buy" and an average price target of $34.50.
Get Our Latest Analysis 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.
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