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

Key Points

• Business First Bancshares beat EPS expectations, reporting $0.73 per share versus $0.72 expected while revenue missed at $89.25M versus $92.45M; the company posted a net margin of 17.01% and a return on equity of 11.25%.
• Shares opened around $28.26 with a market cap of about $923.8M and a P/E of 10.13; analysts maintain a consensus "Buy" rating with a $33.00 target and recent price-target upgrades from several firms.
• Insiders have been active—directors sold 5,146 shares (part of 13,778 shares sold over 90 days) while another director purchased 1,500 shares—insiders own 5.67% and institutions own 47.35% of the stock.

Business First Bancshares (NASDAQ:BFST - Get Free Report) issued its quarterly earnings data on Monday. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.72 by $0.01, FiscalAI reports. The firm had revenue of $89.25 million during the quarter, compared to analysts' expectations of $92.45 million. Business First Bancshares had a net margin of 17.01% and a return on equity of 11.25%.

Business First Bancshares Price Performance

Business First Bancshares stock opened at $28.26 on Monday. Business First Bancshares has a fifty-two week low of $22.25 and a fifty-two week high of $30.32. The stock has a market cap of $923.82 million, a PE ratio of 10.13 and a beta of 0.82. The firm's 50-day simple moving average is $27.60 and its 200 day simple moving average is $26.74. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.01 and a current ratio of 1.01.

Insider Buying and Selling

In related news, Director Mark P. Folse sold 5,146 shares of the business's stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $29.75, for a total transaction of $153,093.50. Following the transaction, the director directly owned 58,140 shares in the company, valued at approximately $1,729,665. The trade was a 8.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rick D. Day purchased 1,500 shares of the business's stock in a transaction that occurred on Tuesday, January 27th. The shares were purchased at an average price of $27.55 per share, for a total transaction of $41,325.00. Following the completion of the acquisition, the director owned 267,385 shares of the company's stock, valued at $7,366,456.75. The trade was a 0.56% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have sold 13,778 shares of company stock worth $399,361. 5.67% of the stock is owned by insiders.

Institutional Trading of Business First Bancshares

Several hedge funds have recently added to or reduced their stakes 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 acquiring an additional 1,092 shares during the period. FWL Investment Management LLC bought a new stake in Business First Bancshares in the third quarter worth about $42,000. Tower Research Capital LLC TRC raised its position in Business First Bancshares by 389.7% in the second quarter. Tower Research Capital LLC TRC now owns 2,669 shares of the company's stock worth $66,000 after acquiring an additional 2,124 shares during the period. Virtus Advisers LLC bought a new stake in Business First Bancshares in the third quarter worth about $123,000. Finally, Quantbot Technologies LP raised its position in Business First Bancshares by 43.3% in the second quarter. Quantbot Technologies LP now owns 5,914 shares of the company's stock worth $146,000 after acquiring an additional 1,786 shares during the period. Institutional investors own 47.35% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on BFST shares. DA Davidson lifted their price objective on shares of Business First Bancshares from $32.00 to $33.00 and gave the company a "buy" rating in a report on Monday, January 26th. Stephens lifted their price objective on shares of Business First Bancshares from $34.00 to $35.00 and gave the company an "overweight" rating in a report on Friday, January 23rd. Raymond James Financial boosted their price target on shares of Business First Bancshares from $30.00 to $31.00 and gave the stock an "outperform" rating in a report on Wednesday, January 7th. Finally, Weiss Ratings upgraded shares of Business First Bancshares from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, February 11th. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $33.00.

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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