Business First Bancshares (NASDAQ:BFST) Price Target Raised to $35.00

Business First Bancshares (NASDAQ:BFST) had its price target increased by DA Davidson from $33.00 to $35.00 in a report published on Friday morning,Benzinga reports. DA Davidson currently has a buy rating on the stock.

Other equities research analysts also recently issued reports about the stock. Stephens lifted 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. Hovde Group raised 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 note on Friday. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Business First Bancshares in a research report on Monday, July 6th. Five equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Business First Bancshares presently has a consensus rating of “Buy” and a consensus target price of $34.50.

Business First Bancshares Price Performance

BFST stock opened at $31.16 on Friday. Business First Bancshares has a twelve month low of $22.56 and a twelve month high of $31.57. The company has a market cap of $1.02 billion, a price-to-earnings ratio of 11.05 and a beta of 0.78. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.39. The business has a 50 day moving average price of $29.39 and a two-hundred day moving average price of $28.25.

Business First Bancshares (NASDAQ:BFST) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.01. Business First Bancshares had a return on equity of 11.31% and a net margin of 17.07%.The business had revenue of $91.00 million during the quarter, compared to analysts’ expectations of $91.31 million. Analysts anticipate that Business First Bancshares will post 3.03 EPS for the current fiscal year.

Business First Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Saturday, August 15th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $0.60 annualized dividend and a dividend yield of 1.9%. Business First Bancshares’s dividend payout ratio is 21.28%.

Insider Activity at Business First Bancshares

In other news, Director George W. Cummings III sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $28.54, for a total value of $428,100.00. Following the completion of the transaction, the director directly owned 281,180 shares of the company’s stock, valued at $8,024,877.20. This represents a 5.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold a total of 36,595 shares of company stock valued at $1,031,732 in the last three months. Corporate insiders own 5.67% of the company’s stock.

Institutional Investors Weigh In On Business First Bancshares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC raised its position in shares of Business First Bancshares by 15,600.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,099 shares of the company’s stock valued at $29,000 after purchasing an additional 1,092 shares during the period. FWL Investment Management LLC bought a new position in Business First Bancshares in the 3rd quarter worth approximately $42,000. Tower Research Capital LLC TRC boosted its holdings in Business First Bancshares by 389.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,669 shares of the company’s stock worth $66,000 after buying an additional 2,124 shares during the period. CWM LLC grew its stake in Business First Bancshares by 36.5% in the 4th quarter. CWM LLC now owns 4,446 shares of the company’s stock valued at $116,000 after buying an additional 1,188 shares in the last quarter. Finally, Virtus Advisers LLC purchased a new position in Business First Bancshares in the 3rd quarter valued at approximately $123,000. 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.