Business First Bancshares (NASDAQ:BFST) Stock Price Down 4.6%

Business First Bancshares, Inc. (NASDAQ:BFST) shares dropped 4.6% on Friday . The company traded as low as $20.56 and last traded at $20.76. Approximately 14,002 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 49,288 shares. The stock had previously closed at $21.77.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on BFST shares. DA Davidson reissued a “buy” rating on shares of Business First Bancshares in a research note on Monday, January 15th. Raymond James lowered Business First Bancshares from an “outperform” rating to a “market perform” rating in a research note on Friday, January 5th. Finally, Piper Sandler boosted their price target on Business First Bancshares from $23.00 to $26.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Business First Bancshares has a consensus rating of “Moderate Buy” and an average target price of $23.33.

Business First Bancshares Price Performance

The company has a 50 day moving average price of $21.57 and a 200 day moving average price of $21.67. The firm has a market cap of $527.66 million, a PE ratio of 8.13 and a beta of 0.94. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.08.

Business First Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Wednesday, May 15th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date is Tuesday, May 14th. Business First Bancshares’s payout ratio is currently 22.05%.

Insider Activity at Business First Bancshares

In related news, insider Warren Mcdonald sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $22.37, for a total value of $156,590.00. Following the sale, the insider now owns 24,306 shares of the company’s stock, valued at approximately $543,725.22. The transaction was disclosed in a filing with the SEC, which is available through this link. 6.45% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Business First Bancshares

A number of institutional investors and hedge funds have recently bought and sold shares of BFST. Denali Advisors LLC purchased a new stake in Business First Bancshares in the 3rd quarter valued at approximately $171,000. SG Americas Securities LLC acquired a new position in Business First Bancshares in the 3rd quarter valued at $202,000. Panagora Asset Management Inc. acquired a new position in Business First Bancshares in the 4th quarter valued at $216,000. KG&L Capital Management LLC acquired a new position in Business First Bancshares in the 4th quarter valued at $218,000. Finally, Avantax Advisory Services Inc. acquired a new position in Business First Bancshares in the 4th quarter valued at $225,000. Hedge funds and other 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.