Business First Bancshares, Inc. (NASDAQ:BFST) Declares Quarterly Dividend of $0.15

Key Points

• Business First Bancshares has declared a quarterly dividend of $0.15 per share, reflecting a 7.1% increase from the prior dividend of $0.14, with the ex-dividend date set for November 14th.
• The company reported $0.72 earnings per share for the latest quarter, exceeding estimates by $0.03, with a net margin of 15.47% and a return on equity of 11.21%.
• Institutional investors own 47.35% of Business First Bancshares, indicating strong interest from hedge funds and other entities, with notable recent increases in positions from various investors.

Business First Bancshares, Inc. (NASDAQ:BFST - Get Free Report) announced a quarterly dividend on Thursday, October 23rd. Stockholders of record on Saturday, November 15th will be given a dividend of 0.15 per share on Sunday, November 30th. This represents a c) annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, November 14th. This is a 7.1% increase from Business First Bancshares's previous quarterly dividend of $0.14.

Business First Bancshares has a payout ratio of 19.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Business First Bancshares to earn $2.96 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 18.9%.

Business First Bancshares Stock Up 0.0%

NASDAQ BFST opened at $23.40 on Friday. The stock's 50 day simple moving average is $24.13 and its 200 day simple moving average is $24.06. Business First Bancshares has a one year low of $20.07 and a one year high of $30.30. The firm has a market cap of $692.64 million, a PE ratio of 9.32 and a beta of 0.86. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.02 and a quick ratio of 1.02.

Business First Bancshares (NASDAQ:BFST - Get Free Report) last posted its quarterly earnings data on Thursday, October 23rd. The company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.03. Business First Bancshares had a net margin of 15.47% and a return on equity of 11.21%. The firm had revenue of $80.95 million during the quarter, compared to analysts' expectations of $80.50 million. As a group, sell-side analysts forecast that Business First Bancshares will post 2.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Business First Bancshares news, Director John P. Ducrest acquired 2,225 shares of the business's stock in a transaction dated Thursday, July 31st. The shares were acquired at an average price of $23.62 per share, with a total value of $52,554.50. Following the completion of the transaction, the director directly owned 13,716 shares in the company, valued at $323,971.92. This trade represents a 19.36% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.68% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Business First Bancshares

Hedge funds and other institutional investors have recently bought and sold shares of the business. State of Alaska Department of Revenue acquired a new position in shares of Business First Bancshares in the third quarter valued at $28,000. CWM LLC boosted its holdings in shares of Business First Bancshares by 160.2% during the 2nd quarter. CWM LLC now owns 2,469 shares of the company's stock worth $61,000 after buying an additional 1,520 shares during the period. Tower Research Capital LLC TRC grew its stake 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 buying an additional 2,124 shares during the last quarter. Farther Finance Advisors LLC bought a new position in Business First Bancshares in the 2nd quarter valued at about $72,000. Finally, Ameritas Investment Partners Inc. raised its holdings in Business First Bancshares by 22.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,908 shares of the company's stock valued at $72,000 after acquiring an additional 540 shares during the period. Institutional investors own 47.35% of the company's stock.

About Business First Bancshares

Business First Bancshares, Inc operates as the bank holding company for b1BANK that provides various banking products and services in Louisiana and Texas. It offers various deposit products and services, including checking, demand, money market, time, and savings accounts; and certificates of deposits, remote deposit capture, and direct deposit services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.