Business First Bancshares (NASDAQ:BFST) Sets New 52-Week High – Still a Buy?

Business First Bancshares, Inc. (NASDAQ:BFST) reached a new 52-week high during trading on Wednesday . The company traded as high as $31.25 and last traded at $30.99, with a volume of 47872 shares trading hands. The stock had previously closed at $30.73.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. DA Davidson restated a “buy” rating and issued a $33.00 target price on shares of Business First Bancshares in a research report on Tuesday, April 28th. Stephens set a $33.00 price objective on Business First Bancshares in a research note on Monday, April 27th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $32.33.

Business First Bancshares Stock Performance

The company’s 50-day moving average price is $28.31 and its two-hundred day moving average price is $27.80. The company has a market cap of $1.03 billion, a P/E ratio of 11.16 and a beta of 0.79. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.39.

Business First Bancshares (NASDAQ:BFST) last released its earnings results on Monday, April 27th. The company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.04. The business had revenue of $89.25 million for the quarter, compared to the consensus estimate of $90.99 million. Business First Bancshares had a net margin of 17.02% and a return on equity of 11.10%. As a group, equities analysts forecast that Business First Bancshares, Inc. will post 3.03 earnings per share for the current year.

Business First Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were given 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 was Friday, May 15th. Business First Bancshares’s dividend payout ratio is 21.28%.

Insider Buying and Selling at Business First Bancshares

In other news, Director George W. Cummings III sold 15,000 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $28.54, for a total transaction of $428,100.00. Following the completion of the sale, the director directly owned 281,180 shares of the company’s stock, valued at $8,024,877.20. This trade represents a 5.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders sold 36,595 shares of company stock worth $1,031,732. Company insiders own 5.67% of the company’s stock.

Institutional Investors Weigh In On Business First Bancshares

Several hedge funds have recently modified their holdings of the stock. Smartleaf Asset Management LLC increased its stake in Business First Bancshares by 15,600.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,099 shares of the company’s stock worth $29,000 after purchasing an additional 1,092 shares in the last quarter. Delos Wealth Advisors LLC purchased a new stake in Business First Bancshares during the third quarter valued at about $30,000. FWL Investment Management LLC acquired a new position in shares of Business First Bancshares in the third quarter worth about $42,000. Tower Research Capital LLC TRC boosted its holdings in shares of Business First Bancshares by 389.7% in the second quarter. Tower Research Capital LLC TRC now owns 2,669 shares of the company’s stock worth $66,000 after buying an additional 2,124 shares during the period. Finally, CWM LLC increased its position in shares of Business First Bancshares by 36.5% in the fourth quarter. CWM LLC now owns 4,446 shares of the company’s stock worth $116,000 after acquiring an additional 1,188 shares in the last quarter. 47.35% of the stock is owned by hedge funds and other institutional investors.

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.