Business First Bancshares (NASDAQ:BFST) Sets New 52-Week High - Should You Buy?

Key Points

• Business First Bancshares reached a new 52-week high of $31.77, with shares recently trading near $31.68. The stock has a $1.05 billion market capitalization and trades at a price-to-earnings ratio of 11.36.
• Analysts remain bullish: five analysts rate BFST a Buy, with a consensus price target of $34.50. Stephens, DA Davidson, and Hovde Group recently raised their targets to $35–$36.
• The company slightly exceeded quarterly earnings expectations, reporting $0.71 in EPS versus $0.70 expected, and declared a quarterly dividend of $0.15, equivalent to a 1.9% yield. However, insiders have sold shares recently, totaling about $1.03 million over the past 90 days.

Business First Bancshares, Inc. (NASDAQ:BFST - Get Free Report) reached a new 52-week high on Tuesday . The stock traded as high as $31.77 and last traded at $31.6750, with a volume of 10926 shares changing hands. The stock had previously closed at $31.47.

Wall Street Analyst Weigh In

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

Business First Bancshares Trading Up 1.8%

The stock's 50-day moving average price is $29.47 and its 200 day moving average price is $28.29. The firm has a market capitalization of $1.05 billion, a PE ratio of 11.36 and a beta of 0.78. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.98 and a quick ratio of 0.98.

Business First Bancshares (NASDAQ:BFST - Get Free Report) last issued its earnings results on Thursday, July 23rd. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.01. Business First Bancshares had a return on equity of 11.31% and a net margin of 17.07%.The business had revenue of $91.00 million during the quarter, compared to analysts' expectations of $91.31 million. On average, sell-side analysts expect that Business First Bancshares, Inc. will post 3.03 EPS for the current fiscal year.

Business First Bancshares Announces Dividend

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

Insider Buying and Selling

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

Hedge Funds Weigh In On Business First Bancshares

Several hedge funds and other institutional investors have recently modified their holdings of BFST. Hsbc Holdings PLC purchased a new stake in Business First Bancshares during the 1st quarter worth approximately $1,636,000. MQS Management LLC purchased a new position in shares of Business First Bancshares in the first quarter worth $579,000. Kestra Advisory Services LLC purchased a new position in shares of Business First Bancshares in the first quarter worth $1,282,000. Royce & Associates LP lifted its stake in shares of Business First Bancshares by 27.0% during the fourth quarter. Royce & Associates LP now owns 823,364 shares of the company's stock worth $21,523,000 after buying an additional 175,284 shares during the period. Finally, FreeGulliver LLC acquired a new stake in shares of Business First Bancshares during the first quarter worth $812,000. 47.35% of the stock is owned by hedge funds and other institutional investors.

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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