Insider Selling: Business First Bancshares (NASDAQ:BFST) Director Sells 10,000 Shares

Key Points

• Director George Cummings III sold 10,000 BFST shares at an average price of $31.86, generating $318,600 and reducing his ownership by 3.83% to 251,180 shares.
• Business First Bancshares reported quarterly EPS of $0.71, slightly exceeding the $0.70 analyst estimate, while revenue reached $91.0 million. The company also declared a quarterly dividend of $0.15 per share, yielding approximately 1.9% annually.
• Analysts maintain a consensus “Buy” rating, with a $34.50 average price target; several firms recently raised their targets to between $35 and $36.

Business First Bancshares, Inc. (NASDAQ:BFST - Get Free Report) Director George Cummings III sold 10,000 shares of the business's stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $31.86, for a total value of $318,600.00. Following the completion of the sale, the director owned 251,180 shares in the company, valued at $8,002,594.80. This represents a 3.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Business First Bancshares Price Performance

Business First Bancshares stock traded down $0.07 during midday trading on Thursday, reaching $31.94. 307,402 shares of the stock traded hands, compared to its average volume of 204,747. The stock has a market cap of $1.04 billion, a P/E ratio of 11.33 and a beta of 0.78. The stock's fifty day moving average is $29.65 and its 200-day moving average is $28.37. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.39. Business First Bancshares, Inc. has a 12 month low of $22.56 and a 12 month high of $32.39.

Business First Bancshares (NASDAQ:BFST - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.70 by $0.01. The business had revenue of $91.00 million for the quarter, compared to the consensus estimate of $91.31 million. Business First Bancshares had a return on equity of 11.31% and a net margin of 17.07%. As a group, equities research analysts anticipate that Business First Bancshares, Inc. will post 3.02 EPS for the current year.

Business First Bancshares Dividend Announcement

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

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Business First Bancshares

Large investors have recently modified their holdings of the stock. Hsbc Holdings PLC purchased a new position in Business First Bancshares during the first quarter worth $1,636,000. MQS Management LLC bought a new position in Business First Bancshares during the first quarter valued at $579,000. Kestra Advisory Services LLC purchased a new stake in shares of Business First Bancshares in the first quarter valued at $1,282,000. Royce & Associates LP raised its stake in shares of Business First Bancshares by 27.0% in the fourth quarter. Royce & Associates LP now owns 823,364 shares of the company's stock valued at $21,523,000 after acquiring an additional 175,284 shares during the period. Finally, FreeGulliver LLC bought a new stake in shares of Business First Bancshares in the 1st quarter worth about $812,000. Institutional investors own 47.35% of the company's stock.

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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