Business First Bancshares (NASDAQ:BFST) Sets New 52-Week High – Time to Buy?

Business First Bancshares, Inc. (NASDAQ:BFST)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as $31.77 and last traded at $31.6750, with a volume of 10926 shares trading hands. The stock had previously closed at $31.47.

Analysts Set New Price Targets

BFST has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Business First Bancshares in a report on Monday, July 6th. Stephens lifted their price target on Business First Bancshares from $34.00 to $36.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. Hovde Group increased their price objective on Business First Bancshares from $32.50 to $36.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Finally, DA Davidson raised their target price on Business First Bancshares from $33.00 to $35.00 and gave the company a “buy” rating in a report on Friday, July 24th. Five investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $34.50.

Business First Bancshares Price Performance

The company has a market cap of $1.05 billion, a price-to-earnings ratio of 11.35 and a beta of 0.78. The company has a fifty day simple moving average of $29.65 and a two-hundred day simple moving average of $28.37. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.39.

Business First Bancshares (NASDAQ:BFST) last released its quarterly earnings results on Thursday, July 23rd. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.01. The business had revenue of $91.00 million during the quarter, compared to the consensus estimate of $91.31 million. Business First Bancshares had a return on equity of 11.31% and a net margin of 17.07%. On average, equities research analysts anticipate that Business First Bancshares, Inc. will post 3.02 earnings per share for the current fiscal year.

Business First Bancshares Dividend Announcement

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

Insider Activity at Business First Bancshares

In other Business First Bancshares news, Director Rick D. Day purchased 1,500 shares of the stock in a transaction dated Tuesday, July 28th. The shares were acquired at an average cost of $31.61 per share, for a total transaction of $47,415.00. Following the completion of the transaction, the director directly owned 269,901 shares of the company’s stock, valued at $8,531,570.61. This trade represents a 0.56% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director George W. Cummings III sold 15,000 shares of the firm’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 transaction of $428,100.00. Following the transaction, the director directly owned 281,180 shares of the company’s stock, valued at approximately $8,024,877.20. This trade represents a 5.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 36,595 shares of company stock worth $1,031,732 over the last quarter. Company insiders own 5.67% of the company’s stock.

Hedge Funds Weigh In On Business First Bancshares

Institutional investors have recently made changes to their positions in the stock. Smartleaf Asset Management LLC lifted 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 acquiring an additional 1,092 shares in the last quarter. FWL Investment Management LLC acquired a new position in Business First Bancshares in the 3rd quarter valued at about $42,000. Tower Research Capital LLC TRC lifted 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 valued at $66,000 after purchasing an additional 2,124 shares in the last quarter. CWM LLC boosted its stake in shares of Business First Bancshares by 36.5% during the 4th quarter. CWM LLC now owns 4,446 shares of the company’s stock worth $116,000 after purchasing an additional 1,188 shares during the last quarter. Finally, Virtus Advisers LLC acquired a new stake in shares of Business First Bancshares during the 3rd quarter worth about $123,000. 47.35% of the stock is 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.