Hsbc Holdings PLC Makes New $1.27 Million Investment in Business First Bancshares, Inc. $BFST

Hsbc Holdings PLC bought a new stake in shares of Business First Bancshares, Inc. (NASDAQ:BFST) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 41,303 shares of the company’s stock, valued at approximately $1,271,000.

Other large investors have also recently made changes to their positions in the company. AQR Capital Management LLC raised its stake in Business First Bancshares by 115.4% during the first quarter. AQR Capital Management LLC now owns 38,485 shares of the company’s stock valued at $937,000 after buying an additional 20,620 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Business First Bancshares by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,343 shares of the company’s stock valued at $349,000 after acquiring an additional 624 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Business First Bancshares by 1,532.5% during the first quarter. Millennium Management LLC now owns 159,481 shares of the company’s stock valued at $3,883,000 after acquiring an additional 149,712 shares in the last quarter. Empowered Funds LLC raised its position in shares of Business First Bancshares by 8.4% in the 1st quarter. Empowered Funds LLC now owns 85,408 shares of the company’s stock worth $2,080,000 after purchasing an additional 6,596 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in shares of Business First Bancshares in the 1st quarter worth about $1,150,000. 47.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BFST. Hovde Group upped their price target on shares of Business First Bancshares from $36.00 to $37.00 and gave the stock an “outperform” rating in a research note on Thursday, August 27th. Stephens lifted 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. Weiss Ratings reiterated a “buy (b)” rating on shares of Business First Bancshares in a research note on Monday, July 6th. 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 investment 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 a consensus price target of $34.75.

Business First Bancshares Stock Down 0.6%

Business First Bancshares stock opened at $31.02 on Tuesday. Business First Bancshares, Inc. has a one year low of $22.56 and a one year high of $32.53. The stock has a fifty day moving average of $31.12 and a 200 day moving average of $28.97. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market cap of $1.01 billion, a PE ratio of 11.00 and a beta of 0.78.

Business First Bancshares (NASDAQ:BFST) last announced its earnings results on Thursday, July 23rd. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.01. The business 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%. As a group, sell-side analysts predict that Business First Bancshares, Inc. will post 3.02 EPS for the current year.

Business First Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Saturday, August 15th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Friday, August 14th. Business First Bancshares’s dividend payout ratio is currently 21.28%.

Insider Buying and Selling at Business First Bancshares

In other Business First Bancshares news, COO Keith Mansfield sold 4,200 shares of the stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $32.08, for a total value of $134,736.00. Following the transaction, the chief operating officer directly owned 77,139 shares in the company, valued at approximately $2,474,619.12. This trade represents a 5.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director George W. Cummings III sold 10,000 shares of Business First Bancshares stock in a transaction on Monday, August 24th. The stock was sold at an average price of $31.33, for a total transaction of $313,300.00. Following the transaction, the director owned 183,745 shares in the company, valued at $5,756,730.85. This represents a 5.16% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 78,275 shares of company stock valued at $2,435,775 in the last quarter. Insiders own 5.67% of the company’s stock.

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.