Business First Bancshares (NASDAQ:BFST) Posts Earnings Results, Beats Estimates By $0.03 EPS

Key Points

• Business First Bancshares reported an earnings per share (EPS) of $0.72 for the quarter, surpassing estimates by $0.03.
• The company's stock is currently rated a "Buy"** with a consensus price target of $30.75, reflecting positive investor sentiment.
• Director John P. Ducrest recently purchased 2,225 shares, indicating insider confidence in the company's stock performance.

Business First Bancshares (NASDAQ:BFST - Get Free Report) posted its quarterly earnings results on Thursday. The company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.69 by $0.03, Zacks reports. Business First Bancshares had a net margin of 15.47% and a return on equity of 11.21%.

Business First Bancshares Price Performance

Shares of BFST stock traded up $0.01 during mid-day trading on Thursday, hitting $23.40. 126,253 shares of the stock were exchanged, compared to its average volume of 101,097. The company has a market cap of $692.64 million, a PE ratio of 9.32 and a beta of 0.86. Business First Bancshares has a 52-week low of $20.07 and a 52-week high of $30.30. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.76. The firm has a fifty day moving average of $24.15 and a 200 day moving average of $24.04.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on BFST shares. Stephens reaffirmed an "overweight" rating and set a $30.00 price target on shares of Business First Bancshares in a research note on Tuesday, July 8th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Business First Bancshares in a report on Wednesday, October 8th. Finally, DA Davidson upgraded Business First Bancshares to a "strong-buy" rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $30.75.

Insider Buying and Selling at Business First Bancshares

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

Hedge Funds Weigh In On Business First Bancshares

Large investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC grew its position in shares of 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 valued at $66,000 after purchasing an additional 2,124 shares during the period. Quantbot Technologies LP lifted its stake in Business First Bancshares by 43.3% in the 2nd quarter. Quantbot Technologies LP now owns 5,914 shares of the company's stock valued at $146,000 after buying an additional 1,786 shares in the last quarter. Strs Ohio acquired a new stake in Business First Bancshares in the 1st quarter worth about $156,000. Prudential Financial Inc. acquired a new stake in Business First Bancshares in the 2nd quarter worth about $258,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Business First Bancshares by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,343 shares of the company's stock worth $349,000 after buying an additional 624 shares in the last quarter. 47.35% of the stock is currently owned by institutional investors and hedge funds.

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.

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