Business First Bancshares (NASDAQ:BFST) Hits New 12-Month High - What's Next?

Key Points

• Business First Bancshares reached a new 52-week high, trading as high as $32.53, while analysts maintained a bullish outlook. Five analysts rate the stock a Buy, with a consensus price target of $34.50.
• The bank modestly exceeded quarterly expectations, reporting $0.71 in earnings per share versus the $0.70 consensus and revenue of $91.81 million versus $91.31 million expected.
• Business First Bancshares announced a quarterly dividend of $0.15 per share, equivalent to a 1.9% annual yield, while insiders sold 75,670 shares worth approximately $2.28 million during the last quarter.

Business First Bancshares, Inc. (NASDAQ:BFST - Get Free Report)'s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $32.53 and last traded at $32.3950, with a volume of 4453 shares trading hands. The stock had previously closed at $32.18.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BFST. Weiss Ratings reiterated a "buy (b)" rating on shares of Business First Bancshares in a research report on Monday, July 6th. Stephens raised their target price on Business First Bancshares from $34.00 to $36.00 and gave the company an "overweight" rating in a research report on Friday, July 24th. DA Davidson raised their target price on Business First Bancshares from $33.00 to $35.00 and gave the company a "buy" rating in a research report on Friday, July 24th. Finally, Hovde Group lifted their target price on Business First Bancshares from $32.50 to $36.00 and gave the company an "outperform" rating in a research note on Friday, July 24th. Five analysts have rated the stock with a Buy rating, According to MarketBeat.com, Business First Bancshares has a consensus rating of "Buy" and an average price target of $34.50.

Business First Bancshares Stock Up 0.4%

The stock has a market cap of $1.05 billion, a P/E ratio of 11.45 and a beta of 0.78. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.60. The stock's 50-day moving average is $30.42 and its 200-day moving average is $28.71.

Business First Bancshares (NASDAQ:BFST - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $0.71 earnings per share for the quarter, topping analysts' consensus estimates of $0.70 by $0.01. The company had revenue of $91.81 million during the quarter, compared to analyst estimates of $91.31 million. Business First Bancshares had a net margin of 17.07% and a return on equity of 11.03%. As a group, research analysts anticipate that Business First Bancshares, Inc. will post 3.02 earnings per share for the current fiscal year.

Business First Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Saturday, August 15th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Friday, August 14th. Business First Bancshares's dividend payout ratio is 21.28%.

Insider Activity at Business First Bancshares

In other news, Director George W. Cummings III sold 15,000 shares of the company's stock in a transaction 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 sale, the director owned 281,180 shares in the company, valued at $8,024,877.20. This represents a 5.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Donald Chad Carter sold 1,875 shares of the firm's stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $31.64, for a total value of $59,325.00. Following the transaction, the executive vice president directly owned 12,642 shares of the company's stock, valued at $399,992.88. This represents a 12.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 75,670 shares of company stock worth $2,276,973 in the last quarter. Company insiders own 5.67% of the company's stock.

Institutional Investors Weigh In On Business First Bancshares

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Smartleaf Asset Management LLC grew its stake in shares of Business First Bancshares by 15,600.0% in the 4th 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 during 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 boosted 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 worth $66,000 after buying an additional 2,124 shares in the last quarter. CWM LLC boosted its holdings in Business First Bancshares by 36.5% during the fourth quarter. CWM LLC now owns 4,446 shares of the company's stock worth $116,000 after buying an additional 1,188 shares in the last quarter. Finally, Virtus Advisers LLC bought a new stake in Business First Bancshares during the third quarter worth approximately $123,000. 47.35% of the stock is owned by institutional investors and hedge funds.

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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