Cubist Systematic Strategies LLC Takes $458,000 Position in Business First Bancshares, Inc. $BFST

Key Points

• Cubist Systematic Strategies LLC has made a new investment of approximately $458,000 in Business First Bancshares, acquiring 18,819 shares of the company's stock.
• Business First Bancshares recently reported an impressive earnings result of $0.66 per share, surpassing analysts' expectations of $0.65, and achieved a revenue of $103.01 million for the quarter.
• The company's quarterly dividend of $0.14 was recently paid, resulting in an annualized dividend of $0.56 and a dividend yield of 2.3%.

Cubist Systematic Strategies LLC purchased a new position in shares of Business First Bancshares, Inc. (NASDAQ:BFST - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 18,819 shares of the company's stock, valued at approximately $458,000. Cubist Systematic Strategies LLC owned about 0.06% of Business First Bancshares at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Lazard Asset Management LLC purchased a new position in shares of Business First Bancshares during the 4th quarter valued at $85,000. Public Employees Retirement System of Ohio purchased a new position in shares of Business First Bancshares during the 4th quarter valued at $94,000. Quantbot Technologies LP lifted its stake in shares of Business First Bancshares by 15.2% during the 1st quarter. Quantbot Technologies LP now owns 4,128 shares of the company's stock valued at $101,000 after buying an additional 546 shares in the last quarter. Virtus Investment Advisers Inc. purchased a new position in shares of Business First Bancshares during the 4th quarter valued at $128,000. Finally, Virtus Advisers LLC purchased a new position in shares of Business First Bancshares during the 1st quarter valued at $127,000. Hedge funds and other institutional investors own 47.35% of the company's stock.

Business First Bancshares Price Performance

NASDAQ BFST traded down $0.52 on Tuesday, reaching $23.92. The company had a trading volume of 76,853 shares, compared to its average volume of 81,000. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $708.03 million, a PE ratio of 9.53 and a beta of 0.85. The firm's 50 day moving average price is $24.78 and its 200 day moving average price is $24.21. Business First Bancshares, Inc. has a 12 month low of $20.07 and a 12 month high of $30.30.

Business First Bancshares (NASDAQ:BFST - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The company reported $0.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 net margin of 15.47% and a return on equity of 11.21%. As a group, equities 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 announced a quarterly dividend, which was paid on Sunday, August 31st. Stockholders of record on Friday, August 15th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Friday, August 15th. Business First Bancshares's dividend payout ratio is currently 22.31%.

Analysts Set New Price Targets

BFST has been the topic of a number of analyst reports. DA Davidson lifted their target price on shares of Business First Bancshares from $31.00 to $32.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Stephens restated an "overweight" rating and set a $30.00 target price on shares of Business First Bancshares in a research note on Tuesday, July 8th. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $30.75.

Insider Activity

In other Business First Bancshares news, Director John P. Ducrest bought 2,225 shares of the firm's stock in a transaction dated Thursday, July 31st. The shares were purchased at an average cost of $23.62 per share, for a total transaction of $52,554.50. Following the transaction, the director owned 13,716 shares of the company's stock, valued at $323,971.92. This represents a 19.36% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 6.45% 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.