Business First Bancshares, Inc. (NASDAQ:BFST) Sees Significant Decrease in Short Interest

Key Points

• Business First Bancshares experienced a 20.3% decrease in short interest from August 15th to August 31st, bringing the total short interest to 237,600 shares.
• Wall Street analysts have an average rating of "Buy" for the company's shares, with price targets ranging from $30.00 to $32.00.
• The company recently declared a quarterly dividend of $0.14 per share, resulting in an annualized dividend yield of 2.3%.

Business First Bancshares, Inc. (NASDAQ:BFST - Get Free Report) was the recipient of a large decrease in short interest in August. As of August 31st, there was short interest totaling 237,600 shares, a decrease of 20.3% from the August 15th total of 298,300 shares. Approximately 0.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 103,000 shares, the days-to-cover ratio is presently 2.3 days. Based on an average daily trading volume, of 103,000 shares, the days-to-cover ratio is presently 2.3 days. Approximately 0.9% of the shares of the stock are sold short.

Insider Activity

In other Business First Bancshares news, Director John P. Ducrest bought 2,225 shares of the firm's stock in a transaction dated Thursday, July 31st. The shares were purchased at an average cost of $23.62 per share, for a total transaction of $52,554.50. Following the transaction, the director owned 13,716 shares of the company's stock, valued at $323,971.92. This represents a 19.36% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 6.45% of the company's stock.

Hedge Funds Weigh In On Business First Bancshares

Institutional investors have recently bought and sold shares of the business. CWM LLC increased its holdings in Business First Bancshares by 160.2% during the second quarter. CWM LLC now owns 2,469 shares of the company's stock valued at $61,000 after buying an additional 1,520 shares during the period. Tower Research Capital LLC TRC increased its holdings in Business First Bancshares by 389.7% during the second 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 period. Ameritas Investment Partners Inc. increased its holdings in Business First Bancshares by 22.8% during the second quarter. Ameritas Investment Partners Inc. now owns 2,908 shares of the company's stock valued at $72,000 after buying an additional 540 shares during the period. Farther Finance Advisors LLC purchased a new position in Business First Bancshares during the second quarter valued at approximately $72,000. Finally, Lazard Asset Management LLC purchased a new position in Business First Bancshares during the fourth quarter valued at approximately $85,000. 47.35% of the stock is owned by hedge funds and other institutional investors.

Business First Bancshares Trading Down 0.5%

BFST stock traded down $0.13 during mid-day trading on Monday, reaching $24.08. The company had a trading volume of 75,860 shares, compared to its average volume of 84,087. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market capitalization of $712.77 million, a PE ratio of 9.59 and a beta of 0.85. The firm has a 50 day moving average of $24.62 and a 200 day moving average of $24.17. Business First Bancshares has a 12 month low of $20.07 and a 12 month high of $30.30.

Business First Bancshares (NASDAQ:BFST - Get Free Report) last issued its earnings results on Monday, July 28th. The company reported $0.66 EPS for the quarter, topping analysts' consensus estimates of $0.65 by $0.01. The business had revenue of $103.01 million for the quarter, compared to the consensus estimate of $78.94 million. Business First Bancshares had a net margin of 15.47% and a return on equity of 11.21%. On average, equities analysts predict that Business First Bancshares will post 2.72 earnings per share for the current fiscal year.

Business First Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, August 31st. Shareholders of record on Friday, August 15th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Friday, August 15th. Business First Bancshares's dividend payout ratio is currently 22.31%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BFST. Stephens restated an "overweight" rating and set a $30.00 target price on shares of Business First Bancshares in a research report on Tuesday, July 8th. DA Davidson increased their price objective on shares of Business First Bancshares from $31.00 to $32.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $30.75.

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.