Business First Bancshares (NASDAQ:BFST) Price Target Raised to $33.00 at DA Davidson

Business First Bancshares (NASDAQ:BFST) had its price target increased by DA Davidson from $32.00 to $33.00 in a research report sent to investors on Monday, Marketbeat Ratings reports. DA Davidson currently has a buy rating on the stock.

A number of other research analysts have also issued reports on BFST. Raymond James Financial upped their price target on shares of Business First Bancshares from $30.00 to $31.00 and gave the company an “outperform” rating in a research note on Wednesday, January 7th. Weiss Ratings reissued a “hold (c+)” rating on shares of Business First Bancshares in a report on Wednesday, January 21st. Finally, Stephens raised their target price on Business First Bancshares from $34.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $33.00.

Business First Bancshares Stock Up 0.7%

Shares of BFST stock opened at $27.46 on Monday. The stock’s fifty day moving average price is $26.70 and its 200 day moving average price is $25.21. Business First Bancshares has a 1-year low of $20.07 and a 1-year high of $28.84. The company has a market cap of $813.09 million, a price-to-earnings ratio of 9.84 and a beta of 0.86. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.00 and a quick ratio of 1.00.

Business First Bancshares (NASDAQ:BFST) last issued its quarterly earnings results on Thursday, January 22nd. The company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.07. Business First Bancshares had a return on equity of 11.41% and a net margin of 17.01%.The business had revenue of $69.44 million during the quarter, compared to the consensus estimate of $81.41 million. On average, research analysts expect that Business First Bancshares will post 2.72 earnings per share for the current fiscal year.

Business First Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, February 28th. Shareholders of record on Sunday, February 15th will be paid 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 dividend yield of 2.2%. Business First Bancshares’s dividend payout ratio (DPR) is presently 21.51%.

Business First Bancshares declared that its board has authorized a share buyback plan on Tuesday, October 28th that authorizes the company to buyback $30.00 million in shares. This buyback authorization authorizes the company to buy up to 4.2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Insider Activity at Business First Bancshares

In related news, CFO Greg Robertson sold 1,400 shares of the firm’s 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 sale, the chief financial officer directly owned 67,835 shares of the company’s stock, valued at $1,791,522.35. This trade represents a 2.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.45% of the stock is owned by insiders.

Institutional Investors Weigh In On Business First Bancshares

Several hedge funds have recently bought and sold shares of BFST. Dynamic Technology Lab Private Ltd increased its stake in Business First Bancshares by 3.2% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 14,510 shares of the company’s stock worth $343,000 after buying an additional 454 shares in the last quarter. Campbell & CO Investment Adviser LLC lifted its position in shares of Business First Bancshares by 2.6% in the second quarter. Campbell & CO Investment Adviser LLC now owns 17,751 shares of the company’s stock valued at $438,000 after acquiring an additional 457 shares in the last quarter. Ameritas Investment Partners Inc. boosted its stake in shares of Business First Bancshares by 22.8% in the second quarter. Ameritas Investment Partners Inc. now owns 2,908 shares of the company’s stock worth $72,000 after acquiring an additional 540 shares during the last quarter. Arizona State Retirement System increased its position in shares of Business First Bancshares by 7.4% during the third quarter. Arizona State Retirement System now owns 8,792 shares of the company’s stock worth $208,000 after purchasing an additional 606 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of 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. Hedge funds and other institutional investors own 47.35% of the company’s stock.

Business First Bancshares Company 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.