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

Shares of Business First Bancshares, Inc. (NASDAQ:BFST) reached a new 52-week high during mid-day 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.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. DA Davidson reiterated a “buy” rating and set a $33.00 price objective on shares of Business First Bancshares in a research report on Tuesday, April 28th. Stephens set a $33.00 target price on Business First Bancshares in a research report 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 an average rating of “Buy” and an average price target of $32.33.

Business First Bancshares Price Performance

The stock’s 50-day moving average is $28.31 and its 200 day moving average is $27.80. The stock has a market capitalization of $1.03 billion, a PE ratio of 11.16 and a beta of 0.79. 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 (NASDAQ:BFST) last released its earnings results on Monday, April 27th. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.04. The company had revenue of $89.25 million during 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 predict 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 declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were paid a $0.15 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.9%. Business First Bancshares’s dividend payout ratio is 21.28%.

Insider Activity

In related news, Director George W. Cummings III sold 15,000 shares of Business First Bancshares 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 owned 281,180 shares of the company’s stock, valued at approximately $8,024,877.20. This trade represents a 5.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 36,595 shares of company stock worth $1,031,732 in the last ninety days. 5.67% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Business First Bancshares

A number of hedge funds and other institutional investors have recently made changes to their positions in BFST. Bank of New York Mellon Corp lifted its holdings in shares of Business First Bancshares by 255.8% during the 1st quarter. Bank of New York Mellon Corp now owns 441,853 shares of the company’s stock valued at $11,948,000 after buying an additional 317,650 shares during the last quarter. Royce & Associates LP grew its position in Business First Bancshares by 27.0% in the fourth quarter. Royce & Associates LP now owns 823,364 shares of the company’s stock worth $21,523,000 after acquiring an additional 175,284 shares in the last quarter. Millennium Management LLC grew its position in Business First Bancshares by 1,532.5% in the first quarter. Millennium Management LLC now owns 159,481 shares of the company’s stock worth $3,883,000 after acquiring an additional 149,712 shares in the last quarter. First Trust Advisors LP increased its stake in shares of Business First Bancshares by 467.0% during the 3rd quarter. First Trust Advisors LP now owns 107,684 shares of the company’s stock worth $2,542,000 after purchasing an additional 88,693 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Business First Bancshares by 7.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,165,720 shares of the company’s stock valued at $31,520,000 after purchasing an additional 81,833 shares in the last quarter. 47.35% of the stock is owned by hedge funds and other institutional investors.

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.