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

Key Points

• Business First Bancshares reported quarterly earnings of $0.66 per share, exceeding analyst expectations of $0.65 by $0.01.
• The company's stock price opened at $25.08 on the day of the report, with a market cap of approximately $744.48 million.
• Institutional investors hold 47.35% of the company's stock, reflecting significant interest from large investors, including AQR Capital Management's substantial stake increase of 115.4%.

Business First Bancshares (NASDAQ:BFST - Get Free Report) issued its earnings results on Monday. The company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.01, Zacks reports. Business First Bancshares had a return on equity of 11.49% and a net margin of 15.00%.

Business First Bancshares Stock Performance

NASDAQ:BFST opened at $25.08 on Monday. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.99 and a quick ratio of 0.99. Business First Bancshares has a 1-year low of $20.07 and a 1-year high of $30.30. The firm has a 50-day moving average of $24.64 and a two-hundred day moving average of $24.76. The stock has a market cap of $744.48 million, a P/E ratio of 10.28 and a beta of 0.80.

Wall Street Analysts Forecast Growth

BFST has been the topic of several research reports. Stephens reaffirmed an "overweight" rating and issued a $30.00 target price on shares of Business First Bancshares in a research report on Tuesday, July 8th. DA Davidson increased their price target on Business First Bancshares from $29.00 to $31.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Finally, Raymond James Financial lowered their price target on Business First Bancshares from $30.00 to $28.00 and set an "outperform" rating for the company in a report on Friday, April 25th.

Insider Activity at Business First Bancshares

In other news, CFO Greg Robertson sold 1,086 shares of the stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $23.72, for a total transaction of $25,759.92. Following the transaction, the chief financial officer owned 69,235 shares of the company's stock, valued at approximately $1,642,254.20. This trade represents a 1.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 6.45% of the company's stock.

Hedge Funds Weigh In On Business First Bancshares

Large investors have recently modified their holdings of the stock. AQR Capital Management LLC raised its stake in Business First Bancshares by 115.4% during the first quarter. AQR Capital Management LLC now owns 38,485 shares of the company's stock worth $937,000 after acquiring an additional 20,620 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Business First Bancshares by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,343 shares of the company's stock worth $349,000 after acquiring an additional 624 shares during the period. Millennium Management LLC raised its stake in Business First Bancshares by 1,532.5% during the first quarter. Millennium Management LLC now owns 159,481 shares of the company's stock worth $3,883,000 after acquiring an additional 149,712 shares during the period. Empowered Funds LLC raised its stake in Business First Bancshares by 8.4% during the first quarter. Empowered Funds LLC now owns 85,408 shares of the company's stock worth $2,080,000 after acquiring an additional 6,596 shares during the period. Finally, Jane Street Group LLC acquired a new stake in Business First Bancshares during the first quarter worth about $1,150,000. Institutional investors own 47.35% of the company's stock.

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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