Business First Bancshares (NASDAQ:BFST) Reaches New 52-Week High – Time to Buy?

Business First Bancshares, Inc. (NASDAQ:BFST)’s stock price hit a new 52-week high during trading on Thursday . The company traded as high as $32.53 and last traded at $32.3950, with a volume of 4453 shares changing hands. The stock had previously closed at $32.18.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BFST. Stephens lifted their target price on 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 reaffirmed a “buy (b)” rating on shares of Business First Bancshares in a report on Monday, July 6th. DA Davidson increased their price target on Business First Bancshares from $33.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Finally, Hovde Group lifted their price target on Business First Bancshares from $32.50 to $36.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $34.50.

Business First Bancshares Trading Up 0.4%

The company’s 50-day moving average is $30.42 and its 200 day moving average is $28.71. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.60. The firm has a market cap of $1.05 billion, a PE ratio of 11.45 and a beta of 0.78.

Business First Bancshares (NASDAQ:BFST) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.01. Business First Bancshares had a net margin of 17.07% and a return on equity of 11.03%. The firm had revenue of $91.81 million for the quarter, compared to analysts’ expectations of $91.31 million. As a group, sell-side analysts predict that Business First Bancshares, Inc. will post 3.02 EPS for the current year.

Business First Bancshares Dividend Announcement

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

Insider Buying and Selling at Business First Bancshares

In other Business First Bancshares news, Director Joseph Vernon Johnson sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $31.75, for a total transaction of $317,500.00. Following the completion of the sale, the director directly owned 174,073 shares in the company, valued at approximately $5,526,817.75. This trade represents a 5.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director George W. Cummings III sold 15,000 shares of Business First Bancshares stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $28.54, for a total value of $428,100.00. Following the transaction, the director directly owned 281,180 shares in the company, valued at approximately $8,024,877.20. This trade represents a 5.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 75,670 shares of company stock valued at $2,276,973 in the last ninety days. Company insiders own 5.67% of the company’s stock.

Institutional Trading of Business First Bancshares

Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in shares of Business First Bancshares during the second quarter worth $83,985,000. Bank of New York Mellon Corp purchased a new position in Business First Bancshares in the second quarter valued at about $13,853,000. Royce & Associates LP grew its stake in Business First Bancshares by 27.0% in the fourth quarter. Royce & Associates LP now owns 823,364 shares of the company’s stock valued at $21,523,000 after purchasing an additional 175,284 shares in the last quarter. Millennium Management LLC increased its position in Business First Bancshares by 1,532.5% in the 1st quarter. Millennium Management LLC now owns 159,481 shares of the company’s stock worth $3,883,000 after purchasing an additional 149,712 shares during the last quarter. Finally, First Trust Advisors LP increased its position in Business First Bancshares by 467.0% in 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. 47.35% of the stock is currently owned by institutional investors and hedge funds.

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.