Business First Bancshares (NASDAQ:BFST) Stock Price Down 0.2% – Here’s What Happened

Business First Bancshares, Inc. (NASDAQ:BFST) fell 0.2% during trading on Monday . The stock traded as low as $26.07 and last traded at $26.35. 59,881 shares traded hands during trading, a decline of 43% from the average session volume of 105,249 shares. The stock had previously closed at $26.39.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Business First Bancshares in a report on Wednesday, October 8th. DA Davidson assumed coverage on shares of Business First Bancshares in a research note on Tuesday, November 25th. They set a “buy” rating and a $32.00 target price on the stock. Finally, Raymond James Financial upped their price target on shares of Business First Bancshares from $30.00 to $31.00 and gave the stock an “outperform” rating in a report on Wednesday, January 7th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Business First Bancshares presently has an average rating of “Moderate Buy” and a consensus price target of $31.50.

Business First Bancshares Stock Performance

The company’s 50-day simple moving average is $26.25 and its 200-day simple moving average is $25.11. The stock has a market capitalization of $780.22 million, a price-to-earnings ratio of 10.17 and a beta of 0.86. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.58.

Business First Bancshares (NASDAQ:BFST) last issued its quarterly earnings results on Thursday, October 23rd. The company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.03. The company had revenue of $80.95 million for the quarter, compared to analyst estimates of $80.50 million. Business First Bancshares had a net margin of 15.94% and a return on equity of 11.08%. On average, analysts expect that Business First Bancshares, Inc. will post 2.72 EPS for the current year.

Business First Bancshares Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, November 30th. Stockholders of record on Saturday, November 15th were paid a $0.15 dividend. The ex-dividend date of this dividend was Friday, November 14th. This is a positive change from Business First Bancshares’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a dividend yield of 2.3%. Business First Bancshares’s payout ratio is currently 23.17%.

Business First Bancshares announced that its board has authorized a share repurchase plan on Tuesday, October 28th that permits the company to buyback $30.00 million in shares. This buyback authorization permits the company to reacquire up to 4.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other news, CFO Greg Robertson sold 1,400 shares of Business First Bancshares stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $26.41, for a total value of $36,974.00. Following the completion of the transaction, the chief financial officer directly owned 67,835 shares of the company’s stock, valued at approximately $1,791,522.35. This trade represents a 2.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Rick D. Day bought 1,600 shares of the business’s stock in a transaction that occurred on Tuesday, October 28th. The shares were acquired at an average price of $24.21 per share, for a total transaction of $38,736.00. Following the transaction, the director owned 265,885 shares in the company, valued at $6,437,075.85. This represents a 0.61% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 6.45% of the company’s stock.

Institutional Investors Weigh In On Business First Bancshares

A number of hedge funds have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue acquired a new stake in Business First Bancshares in the 3rd quarter valued at $28,000. Jones Financial Companies Lllp acquired a new position in shares of Business First Bancshares during the third quarter valued at about $29,000. Delos Wealth Advisors LLC bought a new stake in shares of Business First Bancshares during the third quarter worth about $30,000. FWL Investment Management LLC acquired a new stake in shares of Business First Bancshares in the 3rd quarter worth about $42,000. Finally, CWM LLC lifted its position in Business First Bancshares by 160.2% in the 2nd quarter. CWM LLC now owns 2,469 shares of the company’s stock valued at $61,000 after acquiring an additional 1,520 shares in the last quarter. Institutional investors and hedge funds own 47.35% 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.