New York Life Investment Management LLC Reduces Stake in Business First Bancshares, Inc. (NASDAQ:BFST)

New York Life Investment Management LLC cut its holdings in shares of Business First Bancshares, Inc. (NASDAQ:BFST) by 2.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 20,160 shares of the company’s stock after selling 592 shares during the period. New York Life Investment Management LLC’s holdings in Business First Bancshares were worth $497,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. International Assets Investment Management LLC increased its position in Business First Bancshares by 2,365.0% during the 4th quarter. International Assets Investment Management LLC now owns 246,500 shares of the company’s stock valued at $60,760,000 after purchasing an additional 236,500 shares during the period. Kennedy Capital Management LLC raised its stake in Business First Bancshares by 25.1% in the third quarter. Kennedy Capital Management LLC now owns 295,969 shares of the company’s stock worth $5,552,000 after buying an additional 59,297 shares in the last quarter. ClariVest Asset Management LLC purchased a new stake in Business First Bancshares in the third quarter worth about $743,000. Wakefield Asset Management LLLP bought a new stake in Business First Bancshares during the 3rd quarter valued at approximately $713,000. Finally, Trexquant Investment LP purchased a new position in shares of Business First Bancshares during the 3rd quarter worth approximately $552,000. Institutional investors own 47.35% of the company’s stock.

Insider Buying and Selling at Business First Bancshares

In other Business First Bancshares news, insider Warren Mcdonald sold 7,000 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $22.37, for a total transaction of $156,590.00. Following the completion of the sale, the insider now directly owns 24,306 shares in the company, valued at approximately $543,725.22. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Warren Mcdonald sold 7,000 shares of Business First Bancshares stock in a transaction on Monday, March 11th. The shares were sold at an average price of $22.37, for a total transaction of $156,590.00. Following the transaction, the insider now owns 24,306 shares in the company, valued at approximately $543,725.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Rick D. Day acquired 1,800 shares of Business First Bancshares stock in a transaction dated Tuesday, April 30th. The stock was bought at an average price of $20.30 per share, with a total value of $36,540.00. Following the completion of the purchase, the director now directly owns 262,785 shares in the company, valued at $5,334,535.50. The disclosure for this purchase can be found here. 6.45% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BFST. Piper Sandler upped their target price on shares of Business First Bancshares from $23.00 to $26.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. DA Davidson reaffirmed a “buy” rating on shares of Business First Bancshares in a research report on Monday, January 15th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $23.33.

Business First Bancshares Price Performance

NASDAQ BFST opened at $21.48 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market capitalization of $547.53 million, a price-to-earnings ratio of 8.46 and a beta of 0.95. The stock has a 50-day moving average of $21.38 and a 200 day moving average of $21.80. Business First Bancshares, Inc. has a one year low of $13.40 and a one year high of $25.57.

Business First Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Wednesday, May 15th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date is Tuesday, May 14th. Business First Bancshares’s dividend payout ratio (DPR) is presently 22.05%.

Business First Bancshares 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.