George Cummings III Sells 4,200 Shares of Business First Bancshares (NASDAQ:BFST) Stock

Key Points

• Director George Cummings III sold 4,200 BFST shares at an average price of $31.27, generating $131,334. Following the transaction, he retained 193,745 shares, a 2.12% reduction in his direct ownership.
• Business First Bancshares recently exceeded quarterly earnings expectations, reporting $0.71 EPS and $91.81 million in revenue. The company also declared a quarterly dividend of $0.15 per share, representing a 1.9% yield.
• Analysts remain bullish, with five Buy ratings and a consensus price target of $34.50 versus the stock’s recent price of $31.16. Institutional ownership stands at 47.35% after several large investors added or initiated positions.

Business First Bancshares, Inc. (NASDAQ:BFST - Get Free Report) Director George Cummings III sold 4,200 shares of Business First Bancshares stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $31.27, for a total value of $131,334.00. Following the sale, the director directly owned 193,745 shares of the company's stock, valued at approximately $6,058,406.15. The trade was a 2.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Business First Bancshares Price Performance

NASDAQ:BFST traded down $0.14 during trading hours on Tuesday, reaching $31.16. 115,085 shares of the company were exchanged, compared to its average volume of 206,759. The company has a market capitalization of $1.01 billion, a P/E ratio of 11.05 and a beta of 0.78. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 1.01. The business has a 50 day moving average of $30.88 and a 200 day moving average of $28.92. Business First Bancshares, Inc. has a 1-year low of $22.56 and a 1-year high of $32.53.

Business First Bancshares (NASDAQ:BFST - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $0.71 EPS for the quarter, topping analysts' consensus estimates of $0.70 by $0.01. The company had revenue of $91.81 million for the quarter, compared to analysts' expectations of $91.31 million. Business First Bancshares had a return on equity of 11.03% and a net margin of 17.07%. Research analysts forecast that Business First Bancshares, Inc. will post 3.02 EPS for the current year.

Business First Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Saturday, August 15th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, August 14th. Business First Bancshares's dividend payout ratio is 21.28%.

Wall Street Analysts Forecast Growth

BFST has been the topic of a number of research analyst reports. Stephens raised their target price on Business First Bancshares from $34.00 to $36.00 and gave the company an "overweight" rating in a report on Friday, July 24th. Weiss Ratings reiterated a "buy (b)" rating on shares of Business First Bancshares in a research report on Monday, July 6th. DA Davidson increased their target price on shares of Business First Bancshares from $33.00 to $35.00 and gave the stock a "buy" rating in a report on Friday, July 24th. Finally, Hovde Group lifted their price target on shares of Business First Bancshares from $32.50 to $36.00 and gave the company an "outperform" rating in a report on Friday, July 24th. Five analysts have rated the stock with a Buy rating, According to data from MarketBeat, Business First Bancshares currently has a consensus rating of "Buy" and an average price target of $34.50.

Hedge Funds Weigh In On Business First Bancshares

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in Business First Bancshares during the 2nd quarter valued at approximately $83,985,000. California State Teachers Retirement System increased its position in shares of Business First Bancshares by 4,036.9% during the second quarter. California State Teachers Retirement System now owns 1,140,790 shares of the company's stock worth $37,123,000 after buying an additional 1,113,214 shares during the period. Jupiter Topco LLC bought a new position in Business First Bancshares during the second quarter worth $33,491,000. Bank of New York Mellon Corp acquired a new position in Business First Bancshares in the second quarter valued at $13,853,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Business First Bancshares during the 2nd quarter worth about $13,276,000. 47.35% of the stock is currently owned by institutional investors and hedge funds.

About Business First Bancshares

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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