Business First Bancshares (NASDAQ:BFST) Reaches New 12-Month High – Still a Buy?

Business First Bancshares, Inc. (NASDAQ:BFST) hit a new 52-week high during trading on Monday. The company traded as high as $32.53 and last traded at $32.5570, with a volume of 16,732 shares traded. The stock had previously closed at $31.80.

Wall Street Analysts Forecast Growth

BFST has been the topic of several recent analyst reports. Weiss Ratings raised Business First Bancshares from a “buy (b)” rating to a “buy (b+)” rating in a research note on Friday, October 23rd. Hovde Group raised their price objective on shares of Business First Bancshares from $36.00 to $37.00 and gave the stock an “outperform” rating in a research report on Thursday, August 27th. DA Davidson lifted their price objective on shares of Business First Bancshares from $35.00 to $39.00 and gave the company a “buy” rating in a research note on Tuesday, October 27th. Finally, Stephens boosted their target price 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 equities research analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $35.75.

Business First Bancshares Stock Performance

The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.01 and a current ratio of 1.01. The company has a 50 day moving average price of $31.10 and a 200 day moving average price of $29.35. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of 11.69 and a beta of 0.73.

Business First Bancshares (NASDAQ:BFST) last issued its quarterly earnings data on Monday, October 26th. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.74 by $0.05. Business First Bancshares had a net margin of 17.08% and a return on equity of 11.30%. The company had revenue of $93.00 million during the quarter, compared to analysts’ expectations of $93.25 million. Equities research analysts predict 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 announced a quarterly dividend, which will be paid on Monday, November 30th. Investors of record on Sunday, November 15th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Friday, November 13th. Business First Bancshares’s dividend payout ratio (DPR) is currently 21.43%.

Insider Activity at Business First Bancshares

In other Business First Bancshares news, EVP Donald Chad Carter sold 1,875 shares of the business’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $31.64, for a total transaction of $59,325.00. Following the completion of the sale, the executive vice president owned 12,642 shares of the company’s stock, valued at approximately $399,992.88. The trade was a 12.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Saundra Strong sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $31.98, for a total value of $31,980.00. Following the transaction, the executive vice president owned 4,878 shares of the company’s stock, valued at approximately $155,998.44. This trade represents a 17.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 27,075 shares of company stock worth $853,739. Corporate insiders own 5.67% of the company’s stock.

Institutional Investors Weigh In On Business First Bancshares

A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in Business First Bancshares in the 2nd quarter valued at $83,985,000. Dimensional Fund Advisors LP grew its position in shares of Business First Bancshares by 7.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,165,720 shares of the company’s stock valued at $31,520,000 after purchasing an additional 81,833 shares in the last quarter. Jupiter Topco LLC purchased a new position in shares of Business First Bancshares during the second quarter valued at about $33,491,000. Janus Henderson Group PLC increased its holdings in shares of Business First Bancshares by 0.4% in the first quarter. Janus Henderson Group PLC now owns 989,686 shares of the company’s stock worth $26,761,000 after purchasing an additional 3,540 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in shares of Business First Bancshares in the second quarter worth about $13,853,000. 47.35% of the stock is owned by hedge funds and other institutional investors.

Business First Bancshares Company Profile

Business First Bancshares, Inc is a bank holding company headquartered in Baton Rouge, Louisiana. Through its principal banking subsidiary, b1BANK, the company provides financial services to businesses, professionals and individual customers.

b1BANK offers commercial and consumer deposit accounts, commercial and real estate lending, residential mortgage loans, treasury management and other traditional banking services. The bank also provides wealth management and related financial services designed to support business owners, institutions and retail customers.

Business First Bancshares was established in 2006 and has expanded its presence across Louisiana and into Texas.