Business First Bancshares, Inc. (NASDAQ:BFST) Short Interest Update

Business First Bancshares, Inc. (NASDAQ:BFST) was the target of a significant decrease in short interest during the month of July. As of July 31st, there was short interest totalling 146,300 shares, a decrease of 31.3% from the July 15th total of 212,800 shares. Based on an average daily volume of 66,900 shares, the days-to-cover ratio is currently 2.2 days.

Business First Bancshares Stock Performance

NASDAQ BFST traded up $0.74 during trading on Thursday, reaching $22.32. The company’s stock had a trading volume of 19,869 shares, compared to its average volume of 57,313. The firm has a 50 day moving average price of $22.08 and a 200 day moving average price of $21.71. Business First Bancshares has a 12 month low of $17.88 and a 12 month high of $26.68. The firm has a market capitalization of $569.20 million, a price-to-earnings ratio of 8.50 and a beta of 0.98. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.69.

Business First Bancshares (NASDAQ:BFST) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.13. Business First Bancshares had a return on equity of 12.19% and a net margin of 15.90%. The business had revenue of $112.05 million during the quarter, compared to analysts’ expectations of $63.16 million. During the same period in the previous year, the company posted $0.70 earnings per share. As a group, equities analysts anticipate that Business First Bancshares will post 2.07 EPS for the current fiscal year.

Business First Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, August 31st. Investors of record on Thursday, August 15th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date is Thursday, August 15th. Business First Bancshares’s dividend payout ratio (DPR) is presently 22.05%.

Wall Street Analyst Weigh In

Separately, Hovde Group upped their price target on shares of Business First Bancshares from $29.00 to $30.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Business First Bancshares currently has an average rating of “Moderate Buy” and a consensus target price of $26.67.

Insider Buying and Selling

In other news, EVP Saundra Strong sold 6,300 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $25.32, for a total value of $159,516.00. Following the completion of the transaction, the executive vice president now owns 11,275 shares in the company, valued at approximately $285,483. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Business First Bancshares news, EVP Saundra Strong sold 6,300 shares of the company’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $25.32, for a total transaction of $159,516.00. Following the sale, the executive vice president now directly owns 11,275 shares of the company’s stock, valued at $285,483. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph Vernon Johnson sold 5,574 shares of Business First Bancshares stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $25.38, for a total value of $141,468.12. Following the transaction, the director now owns 213,357 shares of the company’s stock, valued at approximately $5,415,000.66. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,406 shares of company stock worth $340,372. 6.45% of the stock is owned by insiders.

Institutional Investors Weigh In On Business First Bancshares

Institutional investors and hedge funds have recently bought and sold shares of the company. Cornercap Investment Counsel Inc. acquired a new position in shares of Business First Bancshares in the 4th quarter valued at approximately $501,000. Criterion Capital Advisors LLC bought a new stake in Business First Bancshares during the fourth quarter worth $423,000. Russell Investments Group Ltd. boosted its holdings in shares of Business First Bancshares by 5.3% in the 4th quarter. Russell Investments Group Ltd. now owns 189,643 shares of the company’s stock valued at $4,675,000 after purchasing an additional 9,489 shares in the last quarter. Teacher Retirement System of Texas bought a new position in shares of Business First Bancshares in the 4th quarter valued at $326,000. Finally, Avantax Advisory Services Inc. acquired a new position in shares of Business First Bancshares during the 4th quarter worth $225,000. Institutional investors own 47.35% of the company’s stock.

Business First Bancshares Company Profile

Business First Bancshares, Inc operates as the bank holding company for b1BANK that provides various banking products and services in Louisiana and Texas. It offers various deposit products and services, including checking, demand, money market, time, and savings accounts; and certificates of deposits, remote deposit capture, and direct deposit services.