Business First Bancshares, Inc. (NASDAQ:BFST) Sees Large Decrease in Short Interest

Business First Bancshares, Inc. (NASDAQ:BFST - Get Free Report) was the target of a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 195,800 shares, a drop of 19.8% from the March 15th total of 244,100 shares. Based on an average daily volume of 49,700 shares, the short-interest ratio is currently 3.9 days.

Business First Bancshares Price Performance

BFST traded up $0.19 during trading on Friday, reaching $20.40. The stock had a trading volume of 28,267 shares, compared to its average volume of 51,250. The stock has a 50 day moving average of $21.71 and a two-hundred day moving average of $21.51. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.08. The firm has a market capitalization of $521.02 million, a price-to-earnings ratio of 7.85 and a beta of 0.94. Business First Bancshares has a 1-year low of $13.05 and a 1-year high of $25.57.

Business First Bancshares (NASDAQ:BFST - Get Free Report) last issued its quarterly earnings results on Tuesday, January 23rd. The company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.60 by $0.06. Business First Bancshares had a net margin of 18.22% and a return on equity of 13.28%. The firm had revenue of $101.08 million for the quarter, compared to analysts' expectations of $63.40 million. During the same period in the previous year, the business earned $0.66 earnings per share. As a group, equities analysts anticipate that Business First Bancshares will post 2.33 EPS for the current fiscal year.

Business First Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Thursday, February 15th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend was Wednesday, February 14th. Business First Bancshares's dividend payout ratio is presently 21.54%.

Analyst Upgrades and Downgrades

Several analysts recently commented on BFST shares. DA Davidson restated a "buy" rating on shares of Business First Bancshares in a research report on Monday, January 15th. Piper Sandler raised their price target on Business First Bancshares from $23.00 to $26.00 and gave the company an "overweight" rating in a report on Wednesday, January 24th. Finally, Raymond James downgraded shares of Business First Bancshares from an "outperform" rating to a "market perform" rating in a report on Friday, January 5th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $23.33.

Insider Buying and Selling

In other news, insider Warren Mcdonald sold 7,000 shares of the business's stock in a transaction on Monday, March 11th. The shares were sold at an average price of $22.37, for a total transaction of $156,590.00. Following the completion of the transaction, the insider now owns 24,306 shares of the company's stock, valued at $543,725.22. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 6.45% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. BlackRock Inc. lifted its stake in Business First Bancshares by 7.3% during the second quarter. BlackRock Inc. now owns 2,221,560 shares of the company's stock valued at $33,479,000 after buying an additional 150,325 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Business First Bancshares by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 1,302,405 shares of the company's stock valued at $32,104,000 after acquiring an additional 25,997 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of Business First Bancshares by 5.8% in the 1st quarter. The Manufacturers Life Insurance Company now owns 662,051 shares of the company's stock valued at $16,108,000 after acquiring an additional 36,323 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Business First Bancshares by 16.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 560,978 shares of the company's stock worth $13,829,000 after purchasing an additional 78,475 shares during the period. Finally, Geode Capital Management LLC grew its position in Business First Bancshares by 4.6% during the 2nd quarter. Geode Capital Management LLC now owns 480,716 shares of the company's stock worth $7,244,000 after purchasing an additional 21,242 shares in the last quarter. Institutional investors own 47.35% 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.