Business First Bancshares (NASDAQ:BFST) Reaches New 52-Week High – Still a Buy?

Business First Bancshares, Inc. (NASDAQ:BFST)’s share price reached a new 52-week high on Thursday . The company traded as high as $28.99 and last traded at $28.26, with a volume of 2049 shares changing hands. The stock had previously closed at $28.21.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on BFST shares. Raymond James Financial increased their target price on Business First Bancshares from $30.00 to $31.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 7th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Business First Bancshares in a research note on Wednesday, October 8th. Finally, DA Davidson assumed coverage on Business First Bancshares in a report on Tuesday, November 25th. They set a “buy” rating and a $32.00 price objective on the stock. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $31.50.

Business First Bancshares Stock Up 1.7%

The company has a market cap of $849.66 million, a PE ratio of 11.05 and a beta of 0.86. The stock has a 50-day moving average of $26.54 and a 200-day moving average of $25.19. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.58.

Business First Bancshares (NASDAQ:BFST) last posted its earnings results on Thursday, October 23rd. The company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.69 by $0.03. Business First Bancshares had a return on equity of 11.08% and a net margin of 15.94%.The business 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 fiscal year.

Business First Bancshares announced that its Board of Directors has authorized a share 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 repurchase up to 4.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other news, CFO Greg Robertson sold 1,400 shares of the stock in a transaction on Monday, December 1st. The shares were sold at an average price of $26.41, for a total value of $36,974.00. Following the transaction, the chief financial officer owned 67,835 shares of the company’s stock, valued at $1,791,522.35. This represents a 2.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Rick D. Day acquired 1,600 shares of the stock in a transaction dated Tuesday, October 28th. The shares were bought at an average price of $24.21 per share, for a total transaction of $38,736.00. Following the transaction, the director owned 265,885 shares in the company, valued at approximately $6,437,075.85. This represents a 0.61% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 5.68% of the stock is owned by insiders.

Institutional Investors Weigh In On Business First Bancshares

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Business First Bancshares by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 1,591,098 shares of the company’s stock valued at $37,566,000 after purchasing an additional 17,690 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Business First Bancshares by 3.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,024,248 shares of the company’s stock worth $24,183,000 after buying an additional 36,973 shares during the last quarter. American Century Companies Inc. boosted its stake in Business First Bancshares by 12.6% in the third quarter. American Century Companies Inc. now owns 730,694 shares of the company’s stock worth $17,252,000 after buying an additional 81,594 shares in the last quarter. Geode Capital Management LLC boosted its stake in Business First Bancshares by 13.4% in the second quarter. Geode Capital Management LLC now owns 697,274 shares of the company’s stock worth $17,190,000 after buying an additional 82,349 shares in the last quarter. Finally, Royce & Associates LP grew its position in Business First Bancshares by 17.5% during the third quarter. Royce & Associates LP now owns 648,080 shares of the company’s stock valued at $15,301,000 after acquiring an additional 96,720 shares during the last quarter. Institutional investors own 47.35% of the company’s stock.

About Business First Bancshares

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.