DA Davidson Raises Business First Bancshares (NASDAQ:BFST) Price Target to $32.00

Key Points

• DA Davidson has increased its price target for Business First Bancshares from $31.00 to $32.00, indicating a potential upside of 28.15% from the last close.
• The company's stock is currently trading at $24.97, reflecting a 0.7% increase during midday trading.
• Business First Bancshares reported quarterly earnings of $0.66 per share, surpassing estimates and showing a revenue of $103.01 million compared to an expected $78.94 million.

Business First Bancshares (NASDAQ:BFST - Get Free Report) had its price objective upped by analysts at DA Davidson from $31.00 to $32.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. DA Davidson's price objective points to a potential upside of 28.15% from the company's previous close.

Other analysts also recently issued research reports about the company. Stephens restated an "overweight" rating and issued a $30.00 price target on shares of Business First Bancshares in a research note on Tuesday, July 8th. Raymond James Financial cut their price target on Business First Bancshares from $30.00 to $28.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th.

Business First Bancshares Stock Up 0.7%

Shares of Business First Bancshares stock traded up $0.18 during midday trading on Tuesday, hitting $24.97. The company had a trading volume of 29,522 shares, compared to its average volume of 103,171. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market capitalization of $741.48 million, a P/E ratio of 10.27 and a beta of 0.80. The company has a 50 day moving average of $24.64 and a 200 day moving average of $24.77. Business First Bancshares has a 52-week low of $20.07 and a 52-week high of $30.30.

Business First Bancshares (NASDAQ:BFST - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.01. The company had revenue of $103.01 million for the quarter, compared to the consensus estimate of $78.94 million. Business First Bancshares had a return on equity of 11.49% and a net margin of 15.00%. On average, equities analysts predict that Business First Bancshares will post 2.72 earnings per share for the current fiscal year.

Insider Transactions at Business First Bancshares

In related news, CFO Greg Robertson sold 1,086 shares of the company's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $23.72, for a total value of $25,759.92. Following the transaction, the chief financial officer directly owned 69,235 shares of the company's stock, valued at approximately $1,642,254.20. This represents a 1.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 5.68% of the company's stock.

Hedge Funds Weigh In On Business First Bancshares

Hedge funds and other institutional investors have recently modified their holdings of the company. American Century Companies Inc. lifted its holdings in shares of Business First Bancshares by 19.7% during the 4th quarter. American Century Companies Inc. now owns 538,402 shares of the company's stock valued at $13,837,000 after buying an additional 88,546 shares during the period. Hartmann Taylor Wealth Management LLC bought a new position in shares of Business First Bancshares during the 1st quarter valued at $816,000. Bank of America Corp DE lifted its holdings in shares of Business First Bancshares by 26.7% during the 4th quarter. Bank of America Corp DE now owns 28,971 shares of the company's stock valued at $745,000 after buying an additional 6,109 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of Business First Bancshares during the 4th quarter valued at $357,000. Finally, Banc Funds Co. LLC lifted its holdings in shares of Business First Bancshares by 3.5% during the 4th quarter. Banc Funds Co. LLC now owns 478,494 shares of the company's stock valued at $12,297,000 after buying an additional 16,000 shares during the period. 47.35% of the stock is owned by institutional investors.

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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