Business First Bancshares (NASDAQ:BFST – Free Report) had its price objective upped by Hovde Group from $36.00 to $37.00 in a report issued on Thursday morning, Marketbeat reports. They currently have an outperform rating on the stock.
A number of other research firms have also commented on BFST. Weiss Ratings reissued a “buy (b)” rating on shares of Business First Bancshares in a research report on Monday, July 6th. DA Davidson lifted their price objective on shares of Business First Bancshares from $33.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Finally, Stephens upped their target price on shares of Business First Bancshares from $34.00 to $36.00 and gave the stock an “overweight” rating in a research note on Friday, July 24th. Five investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Business First Bancshares currently has an average rating of “Buy” and a consensus price target of $34.75.
Check Out Our Latest Research Report on BFST
Business First Bancshares Stock Performance
Business First Bancshares (NASDAQ:BFST – Get Free Report) last posted its earnings results on Thursday, July 23rd. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.01. The company had revenue of $91.81 million for the quarter, compared to analyst estimates of $91.31 million. Business First Bancshares had a return on equity of 11.03% and a net margin of 17.07%. Equities analysts forecast that Business First Bancshares will post 3.02 earnings per share for the current fiscal year.
Business First Bancshares Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Saturday, August 15th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, August 14th. Business First Bancshares’s dividend payout ratio (DPR) is presently 21.28%.
Insider Activity at Business First Bancshares
In related news, EVP Donald Chad Carter sold 1,875 shares of Business First Bancshares stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $31.64, for a total transaction of $59,325.00. Following the sale, the executive vice president directly owned 12,642 shares in the company, valued at approximately $399,992.88. This trade represents a 12.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Keith Mansfield sold 4,200 shares of the business’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $32.08, for a total value of $134,736.00. Following the completion of the transaction, the chief operating officer directly owned 77,139 shares in the company, valued at approximately $2,474,619.12. This represents a 5.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 78,275 shares of company stock valued at $2,435,775 in the last ninety days. Insiders own 5.67% of the company’s stock.
Hedge Funds Weigh In On Business First Bancshares
A number of hedge funds and other institutional investors have recently made changes to their positions in BFST. BlackRock Inc. bought a new stake in Business First Bancshares in the second quarter worth about $83,985,000. California State Teachers Retirement System grew its position in shares of Business First Bancshares by 4,036.9% during the 2nd quarter. California State Teachers Retirement System now owns 1,140,790 shares of the company’s stock valued at $37,123,000 after acquiring an additional 1,113,214 shares during the period. Jupiter Topco LLC bought a new position in shares of Business First Bancshares during the 2nd quarter valued at approximately $33,491,000. Bank of New York Mellon Corp purchased a new stake in shares of Business First Bancshares during the 2nd quarter worth approximately $13,853,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Business First Bancshares during the 2nd quarter worth approximately $13,276,000. 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.
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