Business First Bancshares (NASDAQ:BFST) Price Target Raised to $35.00

Key Points

• DA Davidson raised Business First Bancshares’ price target from $33 to $35 and maintained a “buy” rating, implying approximately 12.3% upside. The broader analyst consensus remains “Buy,” with an average target of $34.50.
• The company reported quarterly EPS of $0.71, slightly above the $0.70 analyst consensus, while revenue of $91.0 million was just below expectations.
• BFST shares opened at $31.16, near their 52-week high of $31.57. Insiders have sold 36,595 shares worth about $1.03 million over the past 90 days, while institutional investors own 47.35% of the stock.

Business First Bancshares (NASDAQ:BFST - Get Free Report) had its price target upped by analysts at DA Davidson from $33.00 to $35.00 in a research report issued on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. DA Davidson's target price would suggest a potential upside of 12.32% from the stock's current price.

Other research analysts also recently issued reports about the company. Weiss Ratings reissued a "buy (b)" rating on shares of Business First Bancshares in a research note on Monday, July 6th. Hovde Group upped their target price on Business First Bancshares from $32.50 to $36.00 and gave the stock an "outperform" rating in a research report on Friday. Finally, Stephens increased their price target on Business First Bancshares from $34.00 to $36.00 and gave the company an "overweight" rating in a report on Friday. Five research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $34.50.

Business First Bancshares Stock Performance

Business First Bancshares stock opened at $31.16 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.98 and a quick ratio of 0.98. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of 11.05 and a beta of 0.78. 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 $29.39 and its two-hundred day moving average price is $28.25.

Business First Bancshares (NASDAQ:BFST - Get Free Report) last announced 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 $91.00 million during the quarter, compared to analysts' expectations of $91.31 million. Business First Bancshares had a return on equity of 11.31% and a net margin of 17.07%. On average, analysts forecast that Business First Bancshares will post 3.03 earnings per share for the current fiscal year.

Insider Activity

In other news, Director George W. Cummings III sold 15,000 shares of the firm's stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $28.54, for a total value of $428,100.00. Following the sale, the director directly owned 281,180 shares of the company's stock, valued at approximately $8,024,877.20. This trade represents a 5.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 36,595 shares of company stock valued at $1,031,732 over the last 90 days. Company insiders own 5.67% of the company's stock.

Institutional Trading of Business First Bancshares

Several hedge funds have recently added to or reduced their stakes in BFST. AQR Capital Management LLC increased its position in Business First Bancshares by 115.4% in the 1st quarter. AQR Capital Management LLC now owns 38,485 shares of the company's stock worth $937,000 after buying an additional 20,620 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Business First Bancshares by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,343 shares of the company's stock valued at $349,000 after acquiring an additional 624 shares during the period. Millennium Management LLC boosted its position in shares of Business First Bancshares by 1,532.5% in the first quarter. Millennium Management LLC now owns 159,481 shares of the company's stock valued at $3,883,000 after acquiring an additional 149,712 shares during the period. Empowered Funds LLC grew its stake in shares of Business First Bancshares by 8.4% in 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 last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of Business First Bancshares in the first quarter worth $1,150,000. Institutional investors own 47.35% of the company's stock.

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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