Robertson Stephens Wealth Management LLC Reduces Stake in Business First Bancshares, Inc. $BFST

Key Points

• Robertson Stephens Wealth Management LLC reduced its position in Business First Bancshares by 28.2% in Q4, selling 37,594 shares and now holding 95,862 shares (about 0.32% of the company) valued at roughly $2.51 million.
• Director Mark P. Folse sold 4,854 shares on Feb. 10 at an average price of $29.51, reducing his stake by 8.35% to 53,286 shares.
• Business First beat QTR earnings estimates with EPS of $0.73 vs. $0.69, announced a quarterly dividend of $0.15 (annualized $0.60, yield 2.2%, ex-dividend May 15), and the stock carries a consensus Buy rating with an average target of $32.33.

Robertson Stephens Wealth Management LLC reduced its position in Business First Bancshares, Inc. (NASDAQ:BFST - Free Report) by 28.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,862 shares of the company's stock after selling 37,594 shares during the period. Robertson Stephens Wealth Management LLC owned about 0.32% of Business First Bancshares worth $2,506,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd increased its stake in Business First Bancshares by 3.2% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 14,510 shares of the company's stock valued at $343,000 after purchasing an additional 454 shares in the last quarter. Arizona State Retirement System increased its stake in Business First Bancshares by 7.4% in the 3rd quarter. Arizona State Retirement System now owns 8,792 shares of the company's stock valued at $208,000 after purchasing an additional 606 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Business First Bancshares by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,343 shares of the company's stock valued at $349,000 after purchasing an additional 624 shares in the last quarter. CWM LLC increased its stake in Business First Bancshares by 32.0% in the 3rd quarter. CWM LLC now owns 3,258 shares of the company's stock valued at $77,000 after purchasing an additional 789 shares in the last quarter. Finally, Intech Investment Management LLC grew its holdings in Business First Bancshares by 9.6% during the 3rd quarter. Intech Investment Management LLC now owns 12,240 shares of the company's stock valued at $289,000 after buying an additional 1,074 shares during the last quarter. 47.35% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Mark P. Folse sold 4,854 shares of the firm's stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $29.51, for a total transaction of $143,241.54. Following the sale, the director owned 53,286 shares in the company, valued at $1,572,469.86. This trade represents a 8.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 5.67% of the stock is owned by company insiders.

Business First Bancshares Price Performance

Shares of NASDAQ:BFST opened at $27.50 on Friday. The business's fifty day moving average price is $27.46 and its two-hundred day moving average price is $26.83. The stock has a market cap of $898.98 million, a PE ratio of 9.75 and a beta of 0.79. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.01 and a current ratio of 1.01. Business First Bancshares, Inc. has a one year low of $22.51 and a one year high of $30.32.

Business First Bancshares (NASDAQ:BFST - Get Free Report) last issued its quarterly earnings results on Monday, April 27th. The company reported $0.73 earnings per share for the quarter, topping analysts' consensus estimates of $0.69 by $0.04. Business First Bancshares had a return on equity of 11.51% and a net margin of 17.02%.The company had revenue of $89.25 million for the quarter, compared to analyst estimates of $90.99 million. On average, analysts forecast that Business First Bancshares, Inc. will post 3 EPS for the current fiscal year.

Business First Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 15th will be issued a dividend of $0.15 per share. The ex-dividend date is Friday, May 15th. This represents a $0.60 annualized dividend and a dividend yield of 2.2%. Business First Bancshares's dividend payout ratio (DPR) is 21.28%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Weiss Ratings upgraded Business First Bancshares from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, February 11th. Raymond James Financial increased their target price on Business First Bancshares from $30.00 to $31.00 and gave the company an "outperform" rating in a report on Wednesday, January 7th. Stephens set a $33.00 target price on Business First Bancshares in a report on Monday, April 27th. Finally, DA Davidson reiterated a "buy" rating and set a $33.00 target price on shares of Business First Bancshares in a report on Tuesday, April 28th. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $32.33.

Business First Bancshares Company Profile

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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