Business First Bancshares (NASDAQ:BFST) Sets New 1-Year High – What’s Next?

Business First Bancshares, Inc. (NASDAQ:BFST)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $28.86 and last traded at $28.9650, with a volume of 57327 shares trading hands. The stock had previously closed at $28.17.

Analyst Ratings Changes

A number of research analysts have recently issued reports on BFST shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Business First Bancshares in a research note on Wednesday, January 21st. Stephens raised their price target on Business First Bancshares from $34.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, January 23rd. Raymond James Financial boosted their price objective on Business First Bancshares from $30.00 to $31.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 7th. Finally, DA Davidson raised their target price on Business First Bancshares from $32.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Business First Bancshares presently has a consensus rating of “Moderate Buy” and an average target price of $33.00.

Business First Bancshares Stock Up 2.4%

The firm’s 50 day moving average price is $26.91 and its 200-day moving average price is $25.26. 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 company has a market cap of $854.40 million, a P/E ratio of 10.34 and a beta of 0.86.

Business First Bancshares (NASDAQ:BFST) last announced its quarterly earnings data on Thursday, January 22nd. The company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.07. Business First Bancshares had a net margin of 17.01% and a return on equity of 11.41%. The business had revenue of $69.44 million for the quarter, compared to analyst estimates of $81.41 million. As a group, equities research analysts expect that Business First Bancshares, Inc. will post 2.72 EPS for the current year.

Business First Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, February 28th. Investors of record on Sunday, February 15th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Friday, February 13th. Business First Bancshares’s dividend payout ratio is currently 21.51%.

Business First Bancshares declared that its board has authorized a stock repurchase plan on Tuesday, October 28th that authorizes the company to repurchase $30.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 4.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In related news, Director Rick D. Day bought 1,500 shares of the firm’s stock in a transaction dated Tuesday, January 27th. The stock was bought at an average cost of $27.55 per share, for a total transaction of $41,325.00. Following the transaction, the director owned 267,385 shares of the company’s stock, valued at $7,366,456.75. This represents a 0.56% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Donald Chad Carter sold 3,778 shares of the stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of $27.27, for a total transaction of $103,026.06. Following the completion of the sale, the executive vice president owned 13,863 shares in the company, valued at $378,044.01. This represents a 21.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 6.45% of the company’s stock.

Institutional Investors Weigh In On Business First Bancshares

Large investors have recently modified their holdings of the business. State of Alaska Department of Revenue acquired a new stake in shares of Business First Bancshares during the third quarter worth about $28,000. Jones Financial Companies Lllp acquired a new position in shares of Business First Bancshares in the third quarter valued at approximately $29,000. Delos Wealth Advisors LLC acquired a new position in shares of Business First Bancshares in the third quarter valued at approximately $30,000. FWL Investment Management LLC acquired a new stake in shares of Business First Bancshares during the third quarter worth $42,000. Finally, CWM LLC lifted its position in Business First Bancshares by 160.2% in the 2nd quarter. CWM LLC now owns 2,469 shares of the company’s stock valued at $61,000 after acquiring an additional 1,520 shares in the last quarter. 47.35% of the stock is currently owned by institutional investors.

Business First Bancshares Company Profile

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.