Business First Bancshares (NASDAQ:BFST) Given New $36.00 Price Target at Stephens

Key Points

• Stephens raised its price target on Business First Bancshares to $36 from $34 and kept an overweight rating, implying about 18% upside from the current share price.
• The company beat Q2 earnings expectations with EPS of $0.71 versus the $0.70 consensus, while revenue of $91.0 million came in slightly below estimates.
• Business First Bancshares also declared a quarterly dividend of $0.15 per share, and analyst sentiment remains positive with a consensus Buy rating and an average price target of $34.

Business First Bancshares (NASDAQ:BFST - Get Free Report) had its price objective raised by equities researchers at Stephens from $34.00 to $36.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Stephens' price target would suggest a potential upside of 18.15% from the stock's current price.

Other analysts have also issued research reports about the company. Hovde Group raised their target price on Business First Bancshares from $32.50 to $36.00 and gave the company an "outperform" rating in a report on Friday. DA Davidson restated a "buy" rating and issued a $33.00 price objective on shares of Business First Bancshares in a research note on Tuesday, April 28th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Business First Bancshares in a research report on Monday, July 6th. Five research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Business First Bancshares currently has a consensus rating of "Buy" and an average price target of $34.00.

Business First Bancshares Stock Performance

Shares of BFST opened at $30.47 on Friday. The company has a market capitalization of $995.76 million, a PE ratio of 10.81 and a beta of 0.78. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.98 and a quick ratio of 0.98. Business First Bancshares has a one year low of $22.56 and a one year high of $31.57. The company's fifty day moving average price is $29.30 and its 200 day moving average price is $28.22.

Business First Bancshares (NASDAQ:BFST - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.70 by $0.01. The company had revenue of $91.00 million during the quarter, compared to analysts' expectations of $91.31 million. Business First Bancshares had a net margin of 17.02% and a return on equity of 11.10%. As a group, analysts expect that Business First Bancshares will post 3.03 earnings per share for the current year.

Insider Buying and Selling

In other Business First Bancshares news, Director George W. Cummings III sold 15,000 shares of Business First Bancshares stock in a transaction on Monday, June 8th. The shares were sold at an average price of $28.54, for a total transaction of $428,100.00. Following the sale, the director owned 281,180 shares in the company, valued at $8,024,877.20. The trade was a 5.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold 36,595 shares of company stock valued at $1,031,732 over the last three months. 5.67% of the stock is owned by company insiders.

Institutional Trading of Business First Bancshares

Several institutional investors have recently made changes to their positions in BFST. Smartleaf Asset Management LLC raised its position in 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 worth $29,000 after purchasing an additional 1,092 shares in the last quarter. FWL Investment Management LLC acquired a new stake in Business First Bancshares during the third quarter valued at approximately $42,000. Tower Research Capital LLC TRC grew its stake in shares of 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 purchasing an additional 2,124 shares during the period. CWM LLC grew its stake in shares of Business First Bancshares by 36.5% in the 4th quarter. CWM LLC now owns 4,446 shares of the company's stock valued at $116,000 after purchasing an additional 1,188 shares during the period. Finally, Virtus Advisers LLC acquired a new position in shares of Business First Bancshares in the 3rd quarter worth approximately $123,000. 47.35% of the stock is currently owned by institutional investors and hedge funds.

Business First Bancshares News Roundup

Here are the key news stories impacting Business First Bancshares this week:

• Positive Sentiment: BFST reported Q2 earnings of $0.71 per share, edging past analyst expectations by $0.01 and up from $0.66 a year ago, a sign of steady profitability. Business First Bancshares earnings report
• Positive Sentiment: The company declared a quarterly dividend of $0.15 per share, signaling continued capital return to shareholders and implying an annualized yield of about 2.0%. Business First Bancshares dividend announcement
• Positive Sentiment: Sector-wide commentary on regional banks was supportive, with lenders reporting stronger net interest income, loan and deposit growth, and improved credit quality, which may be helping sentiment around BFST. Regional banks earnings sector update
• Neutral Sentiment: Revenue for the quarter came in at $91.0 million, slightly below the $91.31 million consensus estimate, so the quarter was a modest earnings beat but not a clear top-line surprise. Business First Bancshares earnings report

Business First Bancshares Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.