Business First Bancshares (NASDAQ:BFST) Announces Earnings Results, Beats Expectations By $0.01 EPS

Key Points

• Business First Bancshares reported quarterly EPS of $0.71, beating the consensus estimate by $0.01, though revenue of $91.0 million came in slightly below expectations.
• The stock was down slightly on the day, trading around $30.47, while remaining near its 52-week high and carrying a market cap of about $995.8 million.
• Analysts remain bullish on BFST, with four Buy ratings and a consensus target price of $32.33.

Business First Bancshares (NASDAQ:BFST - Get Free Report) announced its earnings results on Thursday. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.01, FiscalAI reports. Business First Bancshares had a return on equity of 11.10% and a net margin of 17.02%.The business had revenue of $91.00 million for the quarter, compared to analysts' expectations of $91.31 million.

Business First Bancshares Trading Down 0.1%

NASDAQ BFST traded down $0.02 during trading hours on Thursday, hitting $30.47. 246,867 shares of the company were exchanged, compared to its average volume of 201,779. The stock has a 50-day moving average price of $29.23 and a 200 day moving average price of $28.18. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.39. Business First Bancshares has a 52 week low of $22.56 and a 52 week high of $31.57. The stock has a market cap of $995.76 million, a PE ratio of 10.81 and a beta of 0.78.

Insider Activity at Business First Bancshares

In other news, Director George W. Cummings III sold 15,000 shares of Business First Bancshares stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $28.54, for a total value of $428,100.00. Following the completion of the transaction, the director owned 281,180 shares in the company, valued at approximately $8,024,877.20. The trade was a 5.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders sold 36,595 shares of company stock valued at $1,031,732. 5.67% of the stock is currently owned by insiders.

Institutional Trading of Business First Bancshares

A number of institutional investors have recently bought and sold shares of BFST. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Business First Bancshares by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,343 shares of the company's stock valued at $349,000 after purchasing an additional 624 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Business First Bancshares by 0.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 242,669 shares of the company's stock worth $6,343,000 after purchasing an additional 858 shares in the last quarter. Intech Investment Management LLC grew its holdings in Business First Bancshares by 9.6% in the third quarter. Intech Investment Management LLC now owns 12,240 shares of the company's stock valued at $289,000 after purchasing an additional 1,074 shares during the period. Smartleaf Asset Management LLC increased its position in shares of Business First Bancshares by 15,600.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,099 shares of the company's stock valued at $29,000 after buying an additional 1,092 shares in the last quarter. Finally, First Trust Advisors LP increased its position in shares of Business First Bancshares by 6.4% in the second quarter. First Trust Advisors LP now owns 18,991 shares of the company's stock valued at $468,000 after buying an additional 1,135 shares in the last quarter. 47.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. DA Davidson restated a "buy" rating and set a $33.00 target price on shares of Business First Bancshares in a research report on Tuesday, April 28th. Weiss Ratings reissued a "buy (b)" rating on shares of Business First Bancshares in a research report on Monday, July 6th. Finally, Stephens set a $33.00 target price on Business First Bancshares in a report on Monday, April 27th. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $32.33.

About Business First Bancshares

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.

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