CenterBook Partners LP Buys New Position in Business First Bancshares, Inc. $BFST

CenterBook Partners LP purchased a new position in shares of Business First Bancshares, Inc. (NASDAQ:BFST) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 45,752 shares of the company’s stock, valued at approximately $1,080,000.

A number of other institutional investors have also modified their holdings of the company. State of Alaska Department of Revenue purchased a new position in shares of Business First Bancshares during the third quarter valued at approximately $28,000. Jones Financial Companies Lllp purchased a new position in shares of Business First Bancshares during the 3rd quarter worth $29,000. CWM LLC boosted its holdings in shares of Business First Bancshares by 160.2% during the second quarter. CWM LLC now owns 2,469 shares of the company’s stock worth $61,000 after purchasing an additional 1,520 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of Business First Bancshares by 389.7% in the second 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 during the period. Finally, Ameritas Investment Partners Inc. increased its stake in Business First Bancshares by 22.8% in the second quarter. Ameritas Investment Partners Inc. now owns 2,908 shares of the company’s stock valued at $72,000 after purchasing an additional 540 shares during the last quarter. Institutional investors and hedge funds own 47.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on BFST shares. Weiss Ratings raised Business First Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, February 11th. Stephens raised their target price 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. DA Davidson boosted their target price on shares of Business First Bancshares from $32.00 to $33.00 and gave the company a “buy” rating in a report on Monday, January 26th. Finally, Raymond James Financial increased their price target on shares of Business First Bancshares from $30.00 to $31.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 7th. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat, Business First Bancshares has an average rating of “Buy” and a consensus target price of $33.00.

Business First Bancshares Trading Up 0.5%

NASDAQ BFST opened at $28.88 on Friday. Business First Bancshares, Inc. has a one year low of $20.07 and a one year high of $30.32. The company’s 50 day moving average price is $27.68 and its 200 day moving average price is $25.70. 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 firm has a market capitalization of $855.14 million, a price-to-earnings ratio of 10.35 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.07. Business First Bancshares had a net margin of 17.01% and a return on equity of 11.41%. The company had revenue of $69.44 million during the quarter, compared to the consensus estimate of $81.41 million. On average, sell-side analysts predict that Business First Bancshares, Inc. will post 2.72 EPS for the current year.

Business First Bancshares Dividend Announcement

The business also recently declared 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. This represents a $0.60 annualized dividend and a yield of 2.1%. The ex-dividend date is Friday, February 13th. Business First Bancshares’s dividend payout ratio is currently 21.51%.

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

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 bought at an average price of $27.55 per share, for a total transaction of $41,325.00. Following the completion of the purchase, the director directly owned 267,385 shares in the company, valued at $7,366,456.75. This trade represents a 0.56% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Donald Chad Carter sold 3,778 shares of the company’s stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of $27.27, for a total value of $103,026.06. Following the completion of the sale, the executive vice president directly owned 13,863 shares of the company’s stock, valued at $378,044.01. The trade was a 21.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 15,178 shares of company stock valued at $436,335. 5.68% of the stock is owned by company 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.