Business First Bancshares (NASDAQ:BFST) Reaches New 1-Year High – Still a Buy?

Business First Bancshares, Inc. (NASDAQ:BFST)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $28.30 and last traded at $28.0590, with a volume of 66603 shares trading hands. The stock had previously closed at $27.89.

Analyst Ratings Changes

A number of research firms have weighed in on BFST. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Business First Bancshares in a research note on Wednesday, October 8th. DA Davidson assumed coverage on Business First Bancshares in a report on Tuesday, November 25th. They issued a “buy” rating and a $32.00 target price for the company. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Business First Bancshares presently has a consensus rating of “Moderate Buy” and an average target price of $30.75.

Business First Bancshares Price Performance

The company has a debt-to-equity ratio of 0.58, a current ratio of 1.00 and a quick ratio of 1.00. The company has a fifty day moving average of $25.14 and a 200 day moving average of $24.70. The firm has a market capitalization of $828.64 million, a P/E ratio of 10.81 and a beta of 0.87.

Business First Bancshares (NASDAQ:BFST) last posted its quarterly earnings data on Thursday, October 23rd. The company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.03. Business First Bancshares had a net margin of 15.94% and a return on equity of 11.08%. The company had revenue of $80.95 million during the quarter, compared to analysts’ expectations of $80.50 million. Sell-side analysts predict that Business First Bancshares, Inc. will post 2.72 earnings per share for the current year.

Business First Bancshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, November 30th. Stockholders of record on Saturday, November 15th were given a $0.15 dividend. This is a boost from Business First Bancshares’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Friday, November 14th. This represents a $0.60 annualized dividend and a dividend yield of 2.1%. Business First Bancshares’s dividend payout ratio is 23.17%.

Business First Bancshares announced that its Board of Directors has authorized a share buyback program on Tuesday, October 28th that allows the company to repurchase $30.00 million in shares. This repurchase authorization allows the company to repurchase up to 4.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Insider Activity at Business First Bancshares

In related news, Director Rick D. Day purchased 1,600 shares of Business First Bancshares stock in a transaction on Tuesday, October 28th. The stock was acquired at an average cost of $24.21 per share, for a total transaction of $38,736.00. Following the completion of the acquisition, the director owned 265,885 shares of the company’s stock, valued at $6,437,075.85. This trade represents a 0.61% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Greg Robertson sold 1,400 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $26.41, for a total transaction of $36,974.00. Following the transaction, the chief financial officer owned 67,835 shares in the company, valued at $1,791,522.35. This represents a 2.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 6.45% of the company’s stock.

Institutional Investors Weigh In On Business First Bancshares

Institutional investors and hedge funds have recently made changes to their positions in the business. Dynamic Technology Lab Private Ltd raised its holdings in shares of Business First Bancshares by 3.2% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 14,510 shares of the company’s stock worth $343,000 after purchasing an additional 454 shares during the period. Campbell & CO Investment Adviser LLC increased its position in Business First Bancshares by 2.6% in the second quarter. Campbell & CO Investment Adviser LLC now owns 17,751 shares of the company’s stock worth $438,000 after buying an additional 457 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in shares of Business First Bancshares by 22.8% in the second quarter. Ameritas Investment Partners Inc. now owns 2,908 shares of the company’s stock valued at $72,000 after buying an additional 540 shares during the period. Quantbot Technologies LP lifted its position in shares of Business First Bancshares by 15.2% during the 1st quarter. Quantbot Technologies LP now owns 4,128 shares of the company’s stock valued at $101,000 after buying an additional 546 shares during the last quarter. Finally, Arizona State Retirement System grew its stake in shares of Business First Bancshares by 7.4% during the 3rd quarter. Arizona State Retirement System now owns 8,792 shares of the company’s stock worth $208,000 after acquiring an additional 606 shares during the period. Institutional investors and hedge funds own 47.35% of the company’s stock.

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.