Business First Bancshares (NASDAQ:BFST) Sets New 1-Year High – Here’s Why

Business First Bancshares, Inc. (NASDAQ:BFST) shares hit a new 52-week high on Thursday . The company traded as high as $28.99 and last traded at $28.26, with a volume of 2049 shares. The stock had previously closed at $28.21.

Wall Street Analysts Forecast Growth

BFST has been the topic of several recent research reports. Raymond James Financial increased their target price on shares of Business First Bancshares from $30.00 to $31.00 and gave the company an “outperform” rating in a report on Wednesday, January 7th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Business First Bancshares in a research note on Wednesday, October 8th. Finally, DA Davidson began coverage on Business First Bancshares in a research note on Tuesday, November 25th. They issued a “buy” rating and a $32.00 target price for the company. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Business First Bancshares presently has an average rating of “Moderate Buy” and a consensus target price of $31.50.

Business First Bancshares Trading Up 1.7%

The stock has a market capitalization of $849.66 million, a P/E ratio of 11.05 and a beta of 0.86. The stock has a 50-day moving average price of $26.54 and a two-hundred day moving average price of $25.19. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.00 and a current ratio of 1.00.

Business First Bancshares (NASDAQ:BFST) last released its quarterly earnings results on Thursday, October 23rd. The company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.03. The business had revenue of $80.95 million for the quarter, compared to analysts’ expectations of $80.50 million. Business First Bancshares had a net margin of 15.94% and a return on equity of 11.08%. On average, research analysts forecast that Business First Bancshares, Inc. will post 2.72 EPS for the current fiscal year.

Business First Bancshares announced that its board has approved a stock buyback program on Tuesday, October 28th that authorizes the company to repurchase $30.00 million in shares. This repurchase authorization authorizes the company to purchase up to 4.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Business First Bancshares

In related news, Director Rick D. Day bought 1,600 shares of the business’s stock in a transaction dated Tuesday, October 28th. The shares were purchased at an average price of $24.21 per share, with a total value of $38,736.00. Following the purchase, the director owned 265,885 shares of the company’s stock, valued at approximately $6,437,075.85. This trade represents a 0.61% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Greg Robertson sold 1,400 shares of the stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $26.41, for a total transaction of $36,974.00. Following the completion of the transaction, the chief financial officer directly owned 67,835 shares of the company’s stock, valued at approximately $1,791,522.35. The trade was a 2.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 5.68% of the company’s stock.

Institutional Trading of Business First Bancshares

A number of hedge funds have recently modified their holdings of the business. State of Alaska Department of Revenue purchased a new stake in shares of Business First Bancshares in the 3rd quarter worth about $28,000. Jones Financial Companies Lllp bought a new stake in Business First Bancshares during the third quarter worth about $29,000. Delos Wealth Advisors LLC purchased a new stake in Business First Bancshares in the third quarter worth about $30,000. FWL Investment Management LLC purchased a new stake in Business First Bancshares in the third quarter worth about $42,000. Finally, CWM LLC increased its stake in shares of Business First Bancshares by 160.2% during the second quarter. CWM LLC now owns 2,469 shares of the company’s stock valued at $61,000 after purchasing an additional 1,520 shares in the last quarter. Institutional investors own 47.35% of the company’s stock.

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.