Empowered Funds LLC acquired a new stake in Business First Bancshares, Inc. (NASDAQ:BFST – Free Report) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 121,404 shares of the company’s stock, valued at approximately $3,731,000.
A number of other hedge funds have also modified their holdings of the business. Smartleaf Asset Management LLC increased its holdings in shares of Business First Bancshares by 15,600.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,099 shares of the company’s stock valued at $29,000 after acquiring an additional 1,092 shares during the period. Delos Wealth Advisors LLC acquired a new stake in Business First Bancshares during the 2nd quarter worth $39,000. FWL Investment Management LLC acquired a new stake in Business First Bancshares during the 3rd quarter worth $42,000. Tower Research Capital LLC TRC grew its position in Business First Bancshares by 389.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,669 shares of the company’s stock worth $66,000 after purchasing an additional 2,124 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in Business First Bancshares during the 2nd quarter worth $97,000. 47.35% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have recently commented on the stock. Stephens upped their target price on shares of Business First Bancshares from $34.00 to $36.00 and gave the company an “overweight” rating in a report on Friday, July 24th. DA Davidson raised their price target on Business First Bancshares from $33.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Hovde Group boosted their price target on Business First Bancshares from $36.00 to $37.00 and gave the company an “outperform” rating in a research report on Thursday, August 27th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Business First Bancshares in a research note on Monday, July 6th. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Business First Bancshares presently has an average rating of “Buy” and an average target price of $34.75.
Business First Bancshares Stock Down 1.1%
Business First Bancshares stock opened at $30.68 on Wednesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 1.01. Business First Bancshares, Inc. has a 1-year low of $22.56 and a 1-year high of $32.53. The company has a market cap of $998.63 million, a PE ratio of 10.88 and a beta of 0.77. The stock’s 50 day moving average price is $31.14 and its 200 day moving average price is $28.98.
Business First Bancshares (NASDAQ:BFST – Get Free Report) last released 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. Business First Bancshares had a return on equity of 11.03% and a net margin of 17.07%.The firm had revenue of $91.81 million during the quarter, compared to analysts’ expectations of $91.31 million. On average, sell-side analysts predict that Business First Bancshares, Inc. will post 3.02 EPS for the current fiscal year.
Business First Bancshares Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Saturday, August 15th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.0%. Business First Bancshares’s dividend payout ratio is 21.28%.
Insider Activity at Business First Bancshares
In related news, Director Joseph Vernon Johnson sold 10,000 shares of the business’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $31.75, for a total transaction of $317,500.00. Following the sale, the director owned 174,073 shares of the company’s stock, valued at approximately $5,526,817.75. The trade was a 5.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Keith Mansfield sold 4,200 shares of the company’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $32.08, for a total transaction of $134,736.00. Following the transaction, the chief operating officer owned 77,139 shares in the company, valued at $2,474,619.12. The trade was a 5.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 78,275 shares of company stock worth $2,435,775. 5.67% of the stock is owned by company insiders.
Business First Bancshares 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.
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