Thrivent Financial for Lutherans Sells 25,404 Shares of Business First Bancshares, Inc. $BFST

Thrivent Financial for Lutherans decreased its holdings in Business First Bancshares, Inc. (NASDAQ:BFST) by 67.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,037 shares of the company’s stock after selling 25,404 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Business First Bancshares were worth $284,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. American Century Companies Inc. lifted its stake in Business First Bancshares by 6.3% during the 2nd quarter. American Century Companies Inc. now owns 649,100 shares of the company’s stock valued at $16,000,000 after acquiring an additional 38,370 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Business First Bancshares in the second quarter valued at about $346,000. Geode Capital Management LLC raised its holdings in shares of Business First Bancshares by 13.4% in the second quarter. Geode Capital Management LLC now owns 697,274 shares of the company’s stock valued at $17,190,000 after purchasing an additional 82,349 shares during the last quarter. Ranger Investment Management L.P. lifted its position in shares of Business First Bancshares by 7.4% during the second quarter. Ranger Investment Management L.P. now owns 343,700 shares of the company’s stock valued at $8,472,000 after purchasing an additional 23,715 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Business First Bancshares by 10.7% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 61,862 shares of the company’s stock worth $1,525,000 after purchasing an additional 5,972 shares during the last quarter. Institutional investors and hedge funds own 47.35% of the company’s stock.

Business First Bancshares Stock Down 2.0%

BFST stock opened at $28.69 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market capitalization of $849.51 million, a price-to-earnings ratio of 10.28 and a beta of 0.86. Business First Bancshares, Inc. has a fifty-two week low of $20.07 and a fifty-two week high of $30.32. The stock has a fifty day moving average of $27.64 and a 200-day moving average of $25.64.

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

Business First Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, February 28th. Investors of record on Sunday, February 15th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $0.60 annualized dividend and a yield of 2.1%. Business First Bancshares’s dividend payout ratio (DPR) is 21.51%.

Business First Bancshares declared that its Board of Directors has approved a stock repurchase plan on Tuesday, October 28th that permits the company to buyback $30.00 million in shares. This buyback authorization permits the company to reacquire up to 4.2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Stephens increased their price objective on shares of Business First Bancshares from $34.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday, January 23rd. Weiss Ratings raised Business First Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, February 11th. DA Davidson lifted their price target on Business First Bancshares from $32.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Finally, Raymond James Financial upped their price objective on Business First Bancshares from $30.00 to $31.00 and gave the company an “outperform” rating in a research note on Wednesday, January 7th. Four 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 $33.00.

Insider Buying and Selling at Business First Bancshares

In other news, Director Mark P. Folse sold 5,146 shares of Business First Bancshares stock in a transaction on Monday, February 9th. The stock was sold at an average price of $29.75, for a total value of $153,093.50. Following the completion of the transaction, the director directly owned 58,140 shares in the company, valued at approximately $1,729,665. The trade was a 8.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Donald Chad Carter sold 3,778 shares of the business’s stock in a transaction on Thursday, January 29th. The shares were sold at an average price of $27.27, for a total value of $103,026.06. Following the sale, the executive vice president owned 13,863 shares in the company, valued at approximately $378,044.01. The trade was a 21.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 15,178 shares of company stock valued at $436,335 over the last 90 days. 5.68% of the stock is currently owned by corporate insiders.

Business First Bancshares 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.