Business First Bancshares (NASDAQ:BFST) Price Target Raised to $33.00

Business First Bancshares (NASDAQ:BFST) had its price target increased by DA Davidson from $32.00 to $33.00 in a research report released on Monday morning, Marketbeat.com reports. They currently have a buy rating on the stock.

Several other equities research analysts also recently issued reports on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Business First Bancshares in a research note on Wednesday, January 21st. Stephens upped their price target on shares of Business First Bancshares from $34.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday, January 23rd. Finally, Raymond James Financial increased their price target on Business First Bancshares from $30.00 to $31.00 and gave the company an “outperform” rating in a report on Wednesday, January 7th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Business First Bancshares currently has an average rating of “Moderate Buy” and an average price target of $33.00.

Business First Bancshares Price Performance

Shares of Business First Bancshares stock opened at $26.96 on Monday. The business’s fifty day moving average price is $26.81 and its 200 day moving average price is $25.24. Business First Bancshares has a twelve month low of $20.07 and a twelve month high of $28.84. 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 stock has a market capitalization of $798.29 million, a P/E ratio of 9.66 and a beta of 0.86.

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

Business First Bancshares announced that its board has initiated a stock repurchase program on Tuesday, October 28th that allows the company to buyback $30.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 4.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

Business First Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, February 28th. Shareholders of record on Sunday, February 15th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Friday, February 13th. Business First Bancshares’s dividend payout ratio (DPR) is 21.51%.

Insider Buying and Selling

In related news, Director Rick D. Day acquired 1,500 shares of Business First Bancshares stock in a transaction on Tuesday, January 27th. The shares were purchased at an average cost of $27.55 per share, for a total transaction of $41,325.00. Following the purchase, the director directly owned 267,385 shares of the company’s stock, valued at $7,366,456.75. The trade was a 0.56% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 completion of the sale, the chief financial officer owned 67,835 shares in the company, valued at approximately $1,791,522.35. This trade represents a 2.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 6.45% of the company’s stock.

Institutional Trading of Business First Bancshares

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Farther Finance Advisors LLC acquired a new stake in shares of Business First Bancshares in the second quarter valued at approximately $72,000. American Century Companies Inc. grew its holdings in Business First Bancshares by 6.3% in the 2nd quarter. American Century Companies Inc. now owns 649,100 shares of the company’s stock worth $16,000,000 after buying an additional 38,370 shares in the last quarter. Polaris Capital Management LLC increased its position in Business First Bancshares by 18.5% in the 2nd quarter. Polaris Capital Management LLC now owns 77,000 shares of the company’s stock valued at $1,898,000 after acquiring an additional 12,000 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Business First Bancshares during the 2nd quarter valued at $346,000. Finally, Geode Capital Management LLC boosted its position in Business First Bancshares by 13.4% during the 2nd quarter. Geode Capital Management LLC now owns 697,274 shares of the company’s stock worth $17,190,000 after acquiring an additional 82,349 shares during the period. 47.35% of the stock is currently owned by institutional investors and hedge funds.

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.