Nuveen LLC Buys New Position in Business First Bancshares, Inc. $BFST

Key Points

• Nuveen LLC has acquired a new stake in Business First Bancshares, purchasing 61,205 shares valued at approximately $1.49 million, bringing its ownership to about 0.21% of the company.
• Business First Bancshares reported a quarterly earnings per share (EPS) of $0.66, exceeding analysts' estimates by $0.01, with revenue of $103.01 million for the quarter.
• The company recently announced a dividend of $0.14 per share, representing a 2.2% yield, with a dividend payout ratio of 22.31%.

Nuveen LLC bought a new stake in shares of Business First Bancshares, Inc. (NASDAQ:BFST - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 61,205 shares of the company's stock, valued at approximately $1,490,000. Nuveen LLC owned 0.21% of Business First Bancshares as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of BFST. Wells Fargo & Company MN lifted its position in shares of Business First Bancshares by 27.3% during the 4th quarter. Wells Fargo & Company MN now owns 14,352 shares of the company's stock worth $369,000 after buying an additional 3,081 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Business First Bancshares by 8.7% during the 4th quarter. Renaissance Technologies LLC now owns 16,200 shares of the company's stock worth $416,000 after buying an additional 1,300 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Business First Bancshares during the 4th quarter worth $1,362,000. Barclays PLC lifted its position in shares of Business First Bancshares by 9.4% during the 4th quarter. Barclays PLC now owns 51,205 shares of the company's stock worth $1,315,000 after buying an additional 4,413 shares during the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Business First Bancshares by 16.6% during the 4th quarter. First Trust Advisors LP now owns 17,982 shares of the company's stock worth $462,000 after buying an additional 2,554 shares during the last quarter. 47.35% of the stock is currently owned by institutional investors.

Insider Activity at Business First Bancshares

In other Business First Bancshares news, Director John P. Ducrest bought 2,225 shares of the business's stock in a transaction that occurred on Thursday, July 31st. The shares were bought at an average price of $23.62 per share, for a total transaction of $52,554.50. Following the transaction, the director directly owned 13,716 shares in the company, valued at approximately $323,971.92. This trade represents a 19.36% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.68% of the stock is currently owned by insiders.

Business First Bancshares Trading Up 0.8%

Shares of BFST stock traded up $0.21 on Thursday, hitting $25.36. The company had a trading volume of 28,986 shares, compared to its average volume of 101,945. The firm has a market cap of $750.73 million, a P/E ratio of 10.09 and a beta of 0.85. The stock's 50-day moving average is $24.92 and its two-hundred day moving average is $24.35. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.02 and a current ratio of 1.02. Business First Bancshares, Inc. has a twelve month low of $20.07 and a twelve month high of $30.30.

Business First Bancshares (NASDAQ:BFST - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.01. The company had revenue of $103.01 million during the quarter, compared to analysts' expectations of $78.94 million. Business First Bancshares had a return on equity of 11.21% and a net margin of 15.47%. On average, equities research analysts anticipate that Business First Bancshares, Inc. will post 2.72 earnings per share for the current fiscal year.

Business First Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, August 31st. Stockholders of record on Friday, August 15th were paid a $0.14 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.56 annualized dividend and a dividend yield of 2.2%. Business First Bancshares's dividend payout ratio is presently 22.31%.

Analyst Ratings Changes

Several analysts recently weighed in on BFST shares. Stephens restated an "overweight" rating and set a $30.00 price objective on shares of Business First Bancshares in a research report on Tuesday, July 8th. DA Davidson upped their price objective on Business First Bancshares from $31.00 to $32.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Four research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $30.75.

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.