Cresset Asset Management LLC Invests $1.82 Million in Business First Bancshares, Inc. (NASDAQ:BFST)

Cresset Asset Management LLC purchased a new stake in Business First Bancshares, Inc. (NASDAQ:BFST - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 70,621 shares of the company's stock, valued at approximately $1,815,000. Cresset Asset Management LLC owned about 0.24% of Business First Bancshares as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of BFST. Quadrant Capital Group LLC grew its position in Business First Bancshares by 106.7% during the 4th quarter. Quadrant Capital Group LLC now owns 1,052 shares of the company's stock worth $27,000 after purchasing an additional 543 shares during the last quarter. Invesco Ltd. grew its position in Business First Bancshares by 1.3% during the 4th quarter. Invesco Ltd. now owns 43,328 shares of the company's stock worth $1,114,000 after purchasing an additional 545 shares during the last quarter. Sterling Capital Management LLC grew its position in Business First Bancshares by 4.2% during the 4th quarter. Sterling Capital Management LLC now owns 17,086 shares of the company's stock worth $439,000 after purchasing an additional 688 shares during the last quarter. Quantbot Technologies LP grew its position in Business First Bancshares by 37.5% during the 4th quarter. Quantbot Technologies LP now owns 3,582 shares of the company's stock worth $92,000 after purchasing an additional 976 shares during the last quarter. Finally, Robertson Stephens Wealth Management LLC grew its position in Business First Bancshares by 0.8% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 133,761 shares of the company's stock worth $3,438,000 after purchasing an additional 1,099 shares during the last quarter. Institutional investors and hedge funds own 47.35% of the company's stock.

Insider Transactions at Business First Bancshares

In other Business First Bancshares news, Director Rick D. Day bought 1,500 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The shares were acquired at an average cost of $25.46 per share, for a total transaction of $38,190.00. Following the acquisition, the director now directly owns 264,285 shares of the company's stock, valued at $6,728,696.10. This trade represents a 0.57% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 5.68% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Raymond James lowered their target price on shares of Business First Bancshares from $30.00 to $28.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Hovde Group upgraded shares of Business First Bancshares from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $31.50 to $33.00 in a research note on Friday, January 24th. Finally, Stephens reduced their price objective on shares of Business First Bancshares from $34.00 to $32.00 and set an "overweight" rating for the company in a research note on Friday, April 25th.

Business First Bancshares Trading Down 0.6%

Shares of BFST traded down $0.14 on Wednesday, hitting $24.78. 100,239 shares of the stock traded hands, compared to its average volume of 90,137. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $735.84 million, a P/E ratio of 10.96 and a beta of 0.81. The stock's 50 day moving average is $23.55 and its two-hundred day moving average is $25.73. Business First Bancshares, Inc. has a 1 year low of $18.97 and a 1 year high of $30.30.

Business First Bancshares (NASDAQ:BFST - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The company reported $0.65 earnings per share for the quarter, topping analysts' consensus estimates of $0.61 by $0.04. Business First Bancshares had a net margin of 14.19% and a return on equity of 11.88%. The company had revenue of $79.21 million for the quarter, compared to the consensus estimate of $77.54 million. As a group, sell-side analysts predict that Business First Bancshares, Inc. will post 2.72 earnings per share for the current year.

Business First Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, May 31st. Stockholders of record on Thursday, May 15th will be given a $0.14 dividend. The ex-dividend date is Thursday, May 15th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.26%. Business First Bancshares's payout ratio is currently 23.05%.

About Business First Bancshares

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.