Hovde Group Increases Business First Bancshares (NASDAQ:BFST) Price Target to $36.00

Business First Bancshares (NASDAQ:BFST) had its price objective raised by research analysts at Hovde Group from $32.50 to $36.00 in a research note issued to investors on Friday, MarketBeat Ratings reports. The brokerage presently has an “outperform” rating on the stock. Hovde Group’s target price would indicate a potential upside of 18.15% from the company’s current price.

A number of other analysts have also recently weighed in on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Business First Bancshares in a report on Monday, July 6th. DA Davidson reaffirmed a “buy” rating and issued a $33.00 price target on shares of Business First Bancshares in a report on Tuesday, April 28th. Finally, Stephens set a $33.00 price objective on shares of Business First Bancshares in a research report on Monday, April 27th. Five investment analysts have rated the stock with a Buy rating, According to MarketBeat, Business First Bancshares has a consensus rating of “Buy” and an average target price of $33.25.

Business First Bancshares Price Performance

Shares of NASDAQ BFST opened at $30.47 on Friday. Business First Bancshares has a twelve month low of $22.56 and a twelve month high of $31.57. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $995.76 million, a price-to-earnings ratio of 10.81 and a beta of 0.78. The business has a 50 day simple moving average of $29.30 and a 200-day simple moving average of $28.22.

Business First Bancshares (NASDAQ:BFST) last announced its quarterly earnings data 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 firm had revenue of $91.00 million for the quarter, compared to analysts’ expectations of $91.31 million. Business First Bancshares had a return on equity of 11.10% and a net margin of 17.02%. As a group, equities research analysts expect that Business First Bancshares will post 3.03 earnings per share for the current year.

Insider Activity

In other news, Director George W. Cummings III sold 15,000 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $28.54, for a total transaction of $428,100.00. Following the completion of the transaction, the director owned 281,180 shares of the company’s stock, valued at approximately $8,024,877.20. The trade was a 5.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 36,595 shares of company stock worth $1,031,732 over the last three months. Insiders own 5.67% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BFST. AQR Capital Management LLC increased its stake in shares of Business First Bancshares by 115.4% in the first quarter. AQR Capital Management LLC now owns 38,485 shares of the company’s stock valued at $937,000 after purchasing an additional 20,620 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Business First Bancshares by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,343 shares of the company’s stock worth $349,000 after buying an additional 624 shares in the last quarter. Millennium Management LLC grew its holdings 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 buying an additional 149,712 shares in the last quarter. Empowered Funds LLC increased its position in Business First Bancshares by 8.4% in the 1st quarter. Empowered Funds LLC now owns 85,408 shares of the company’s stock valued at $2,080,000 after acquiring an additional 6,596 shares during the period. Finally, Jane Street Group LLC acquired a new stake in Business First Bancshares in the 1st quarter valued at approximately $1,150,000. 47.35% of the stock is owned by institutional investors and hedge funds.

Business First Bancshares News Roundup

Here are the key news stories impacting Business First Bancshares this week:

• Positive Sentiment: BFST reported Q2 earnings of $0.71 per share, edging past analyst expectations by $0.01 and up from $0.66 a year ago, a sign of steady profitability. Business First Bancshares earnings report
• Positive Sentiment: The company declared a quarterly dividend of $0.15 per share, signaling continued capital return to shareholders and implying an annualized yield of about 2.0%. Business First Bancshares dividend announcement
• Positive Sentiment: Sector-wide commentary on regional banks was supportive, with lenders reporting stronger net interest income, loan and deposit growth, and improved credit quality, which may be helping sentiment around BFST. Regional banks earnings sector update
• Neutral Sentiment: Revenue for the quarter came in at $91.0 million, slightly below the $91.31 million consensus estimate, so the quarter was a modest earnings beat but not a clear top-line surprise. Business First Bancshares earnings report

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.