Business First Bancshares, Inc. (NASDAQ:BFST) Short Interest Update

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) saw a large increase in short interest during the month of August. As of August 15th, there was short interest totaling 298,300 shares, an increase of 28.7% from the July 31st total of 231,800 shares. Based on an average daily volume of 101,800 shares, the short-interest ratio is presently 2.9 days. Based on an average daily volume of 101,800 shares, the short-interest ratio is presently 2.9 days.

Insider Activity

In other Business First Bancshares news, Director John P. Ducrest purchased 2,225 shares of the firm's stock in a transaction dated Thursday, July 31st. The shares were bought at an average price of $23.62 per share, for a total transaction of $52,554.50. Following the purchase, the director owned 13,716 shares in the company, valued at approximately $323,971.92. This trade represents a 19.36% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 5.68% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of BFST. Price T Rowe Associates Inc. MD lifted its holdings in Business First Bancshares by 16.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,144 shares of the company's stock worth $236,000 after buying an additional 1,310 shares during the period. Northern Trust Corp lifted its holdings in Business First Bancshares by 10.2% during the 4th quarter. Northern Trust Corp now owns 232,329 shares of the company's stock worth $5,971,000 after buying an additional 21,434 shares during the period. Ameriprise Financial Inc. acquired a new position in Business First Bancshares during the 4th quarter worth about $218,000. BNP Paribas Financial Markets lifted its holdings in Business First Bancshares by 88.0% during the 4th quarter. BNP Paribas Financial Markets now owns 16,230 shares of the company's stock worth $417,000 after buying an additional 7,599 shares during the period. Finally, Bank of America Corp DE lifted its holdings in Business First Bancshares by 26.7% during the 4th quarter. Bank of America Corp DE now owns 28,971 shares of the company's stock worth $745,000 after buying an additional 6,109 shares during the period. 47.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. DA Davidson raised their price objective on Business First Bancshares from $31.00 to $32.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Stephens reissued an "overweight" rating and set a $30.00 price objective on shares of Business First Bancshares in a report on Tuesday, July 8th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $30.75.

Business First Bancshares Price Performance

Shares of NASDAQ BFST traded down $0.41 during mid-day trading on Friday, hitting $24.41. 75,910 shares of the stock traded hands, compared to its average volume of 83,792. 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 has a twelve month low of $20.07 and a twelve month high of $30.30. The company has a market cap of $722.61 million, a PE ratio of 9.73 and a beta of 0.85. The firm has a 50 day simple moving average of $24.85 and a two-hundred day simple moving average of $24.24.

Business First Bancshares (NASDAQ:BFST - Get Free Report) last announced its earnings results on Monday, July 28th. The company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.65 by $0.01. The firm had revenue of $103.01 million for the quarter, compared to the consensus estimate of $78.94 million. Business First Bancshares had a return on equity of 11.21% and a net margin of 15.47%. As a group, equities research analysts forecast that Business First Bancshares will post 2.72 EPS 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 issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.56 annualized dividend and a yield of 2.3%. Business First Bancshares's payout ratio is presently 22.31%.

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.