Business First Bancshares, Inc. (NASDAQ:BFST) Short Interest Up 28.7% in August

Key Points

• Short interest in Business First Bancshares increased by 28.7% in August, reaching 298,300 shares as of August 15th, with a days-to-cover ratio of 2.9 days.
• The company reported $0.66 earnings per share for the last quarter, beating expectations and showing a significant revenue of $103.01 million against estimates of $78.94 million.
• Business First Bancshares declared a quarterly dividend of $0.14, resulting in an annualized dividend yield of 2.2% and a payout ratio of 22.31%.

Business First Bancshares, Inc. (NASDAQ:BFST - Get Free Report) was the target of a large growth in short interest in the month of August. As of August 15th, there was short interest totaling 298,300 shares, agrowthof28.7% from the July 31st total of 231,800 shares. Based on an average trading volume of 101,800 shares, the days-to-cover ratio is presently 2.9 days. Based on an average trading volume of 101,800 shares, the days-to-cover ratio is presently 2.9 days.

Analyst Ratings Changes

A number of analysts have commented on the company. DA Davidson lifted their price target on Business First Bancshares from $31.00 to $32.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Stephens reaffirmed an "overweight" rating and set a $30.00 price target on shares of Business First Bancshares in a research report on Tuesday, July 8th. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat, Business First Bancshares has an average rating of "Buy" and an average price target of $30.75.

Business First Bancshares Stock Performance

Shares of NASDAQ BFST traded down $0.01 during trading on Tuesday, reaching $25.08. 8,171 shares of the company traded hands, compared to its average volume of 101,290. The firm's fifty day simple moving average is $24.95 and its 200 day simple moving average is $24.27. The stock has a market cap of $742.37 million, a P/E ratio of 9.99 and a beta of 0.85. Business First Bancshares has a 12-month low of $20.07 and a 12-month high of $30.30. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.76.

Business First Bancshares (NASDAQ:BFST - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.01. Business First Bancshares had a return on equity of 11.21% and a net margin of 15.47%.The firm had revenue of $103.01 million during the quarter, compared to analyst estimates of $78.94 million. As a group, research analysts anticipate that Business First Bancshares will post 2.72 earnings per share for the current fiscal year.

Business First Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, August 31st. Investors of record on Friday, August 15th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Friday, August 15th. Business First Bancshares's payout ratio is currently 22.31%.

Insider Buying and Selling at Business First Bancshares

In other Business First Bancshares news, Director John P. Ducrest acquired 2,225 shares of the stock in a transaction dated Thursday, July 31st. The stock was purchased at an average price of $23.62 per share, with a total value of $52,554.50. Following the transaction, the director directly owned 13,716 shares of the company's stock, valued at $323,971.92. This trade represents a 19.36% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 6.45% of the stock is owned by insiders.

Hedge Funds Weigh In On Business First Bancshares

Institutional investors and hedge funds have recently modified their holdings of the business. CWM LLC increased its stake in shares of Business First Bancshares by 160.2% in the 2nd quarter. CWM LLC now owns 2,469 shares of the company's stock valued at $61,000 after purchasing an additional 1,520 shares in the last quarter. Tower Research Capital LLC TRC increased 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 worth $66,000 after buying an additional 2,124 shares in the last quarter. Ameritas Investment Partners Inc. increased its stake in Business First Bancshares by 22.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,908 shares of the company's stock worth $72,000 after buying an additional 540 shares in the last quarter. Farther Finance Advisors LLC purchased a new stake in Business First Bancshares during the 2nd quarter worth approximately $72,000. Finally, Lazard Asset Management LLC purchased a new stake in Business First Bancshares during the 4th quarter worth approximately $85,000. Hedge funds and other institutional investors own 47.35% of the company's stock.

Business First Bancshares Company Profile

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.

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