CenterBook Partners LP Invests $1.08 Million in Business First Bancshares, Inc. $BFST

CenterBook Partners LP acquired a new stake in Business First Bancshares, Inc. (NASDAQ:BFST) during the third quarter, according to its most recent filing with the SEC. The firm acquired 45,752 shares of the company’s stock, valued at approximately $1,080,000. CenterBook Partners LP owned about 0.15% of Business First Bancshares at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. AQR Capital Management LLC lifted its stake in shares of Business First Bancshares by 115.4% in the 1st quarter. AQR Capital Management LLC now owns 38,485 shares of the company’s stock worth $937,000 after acquiring an additional 20,620 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Business First Bancshares by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,343 shares of the company’s stock worth $349,000 after purchasing an additional 624 shares in the last quarter. Millennium Management LLC lifted its position in Business First Bancshares by 1,532.5% in the first quarter. Millennium Management LLC now owns 159,481 shares of the company’s stock valued at $3,883,000 after purchasing an additional 149,712 shares during the period. Empowered Funds LLC boosted its holdings in Business First Bancshares by 8.4% in the 1st quarter. Empowered Funds LLC now owns 85,408 shares of the company’s stock valued at $2,080,000 after purchasing an additional 6,596 shares in the last quarter. Finally, Jane Street Group LLC acquired a new position in Business First Bancshares during the 1st quarter worth approximately $1,150,000. 47.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on the company. Weiss Ratings raised Business First Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 11th. DA Davidson increased their price objective on Business First Bancshares from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Stephens raised their target price on Business First Bancshares from $34.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, January 23rd. Finally, Raymond James Financial upped their price target on shares of Business First Bancshares from $30.00 to $31.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 7th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $33.00.

Insider Buying and Selling at Business First Bancshares

In other news, Director Mark P. Folse sold 4,854 shares of the stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $29.51, for a total value of $143,241.54. Following the sale, the director directly owned 53,286 shares in the company, valued at $1,572,469.86. This represents a 8.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Donald Chad Carter sold 3,778 shares of Business First Bancshares stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of $27.27, for a total value of $103,026.06. Following the transaction, the executive vice president owned 13,863 shares of the company’s stock, valued at $378,044.01. This represents a 21.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 15,178 shares of company stock worth $436,335 over the last ninety days. 5.68% of the stock is currently owned by company insiders.

Business First Bancshares Stock Performance

Shares of BFST stock opened at $28.88 on Friday. The stock has a fifty day moving average price of $27.68 and a 200 day moving average price of $25.70. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market cap of $855.14 million, a PE ratio of 10.35 and a beta of 0.86. Business First Bancshares, Inc. has a 1 year low of $20.07 and a 1 year high of $30.32.

Business First Bancshares (NASDAQ:BFST) last announced its quarterly earnings results on Thursday, January 22nd. The company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.07. The business had revenue of $69.44 million during the quarter, compared to analysts’ expectations of $81.41 million. Business First Bancshares had a return on equity of 11.41% and a net margin of 17.01%. Sell-side analysts forecast that Business First Bancshares, Inc. will post 2.72 earnings per share for the current fiscal year.

Business First Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, February 28th. Shareholders of record on Sunday, February 15th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, February 13th. This represents a $0.60 dividend on an annualized basis and a yield of 2.1%. Business First Bancshares’s payout ratio is presently 21.51%.

Business First Bancshares announced that its board has approved a share repurchase plan on Tuesday, October 28th that authorizes the company to buyback $30.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 4.2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.