Business First Bancshares (NASDAQ:BFST) Reaches New 1-Year High – Time to Buy?

Business First Bancshares, Inc. (NASDAQ:BFST)’s share price reached a new 52-week high on Thursday . The company traded as high as $30.37 and last traded at $30.3020, with a volume of 3897 shares. The stock had previously closed at $30.15.

Wall Street Analyst Weigh In

BFST has been the topic of several recent analyst reports. DA Davidson reissued a “buy” rating and issued a $33.00 target price on shares of Business First Bancshares in a research note on Tuesday, April 28th. Stephens set a $33.00 target price on Business First Bancshares in a research report on Monday, April 27th. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $32.33.

Business First Bancshares Stock Up 2.4%

The company’s 50 day moving average price is $28.22 and its 200 day moving average price is $27.74. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of 10.93 and a beta of 0.79.

Business First Bancshares (NASDAQ:BFST) last posted its quarterly earnings results on Monday, April 27th. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.04. The business had revenue of $89.25 million for the quarter, compared to the consensus estimate of $90.99 million. Business First Bancshares had a return on equity of 11.10% and a net margin of 17.02%. As a group, research analysts forecast that Business First Bancshares, Inc. will post 3.03 earnings per share for the current fiscal year.

Business First Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Friday, May 15th. Business First Bancshares’s dividend payout ratio is presently 21.28%.

Insider Buying and Selling

In related news, Director George W. Cummings III sold 15,000 shares of the firm’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $28.54, for a total transaction of $428,100.00. Following the sale, the director directly owned 281,180 shares of the company’s stock, valued at $8,024,877.20. This trade represents a 5.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 36,595 shares of company stock worth $1,031,732 over the last quarter. 5.67% of the stock is owned by company insiders.

Institutional Trading of Business First Bancshares

A number of hedge funds have recently added to or reduced their stakes in BFST. Smartleaf Asset Management LLC grew its position in shares of Business First Bancshares by 15,600.0% during the 4th 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 during the period. Delos Wealth Advisors LLC purchased a new stake in shares of Business First Bancshares during the third quarter worth approximately $30,000. FWL Investment Management LLC purchased a new stake in shares of Business First Bancshares during the third quarter worth $42,000. Tower Research Capital LLC TRC grew its stake in Business First Bancshares by 389.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,669 shares of the company’s stock valued at $66,000 after acquiring an additional 2,124 shares in the last quarter. Finally, CWM LLC increased its holdings in shares of Business First Bancshares by 36.5% in the fourth quarter. CWM LLC now owns 4,446 shares of the company’s stock valued at $116,000 after purchasing an additional 1,188 shares during the last quarter. 47.35% of the stock is owned by hedge funds and other institutional investors.

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.