Business First Bancshares, Inc. (NASDAQ:BFST) Expected to Earn FY2024 Earnings of $1.85 Per Share

Business First Bancshares, Inc. (NASDAQ:BFSTFree Report) – Investment analysts at DA Davidson lowered their FY2024 earnings per share (EPS) estimates for shares of Business First Bancshares in a research report issued on Monday, April 29th. DA Davidson analyst M. Navas now anticipates that the company will earn $1.85 per share for the year, down from their previous forecast of $2.30. DA Davidson has a “Buy” rating on the stock. The consensus estimate for Business First Bancshares’ current full-year earnings is $2.21 per share.

BFST has been the subject of a number of other research reports. Piper Sandler boosted 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 note on Wednesday, January 24th. Raymond James cut shares of Business First Bancshares from an “outperform” rating to a “market perform” rating in a research note on Friday, January 5th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Business First Bancshares has a consensus rating of “Moderate Buy” and an average price target of $23.33.

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Business First Bancshares Stock Up 1.0 %

BFST stock opened at $20.90 on Wednesday. The firm’s fifty day moving average is $21.45 and its 200 day moving average is $21.70. The firm has a market cap of $533.79 million, a PE ratio of 8.23 and a beta of 0.95. Business First Bancshares has a one year low of $13.05 and a one year high of $25.57. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.01 and a current ratio of 1.01.

Business First Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 2.68%. The ex-dividend date of this dividend is Tuesday, May 14th. Business First Bancshares’s payout ratio is 22.05%.

Insider Transactions at Business First Bancshares

In related news, insider Warren Mcdonald sold 7,000 shares of Business First Bancshares 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 directly owns 24,306 shares in the company, valued at $543,725.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Business First Bancshares news, insider Warren Mcdonald sold 7,000 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were 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 $543,725.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rick D. Day purchased 1,800 shares of the business’s stock in a transaction dated Tuesday, April 30th. The stock was bought at an average cost of $20.30 per share, with a total value of $36,540.00. Following the completion of the acquisition, the director now owns 262,785 shares of the company’s stock, valued at $5,334,535.50. The disclosure for this purchase can be found here. Company insiders own 6.45% of the company’s stock.

Institutional Trading of Business First Bancshares

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Business First Bancshares by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,276,408 shares of the company’s stock worth $23,945,000 after buying an additional 16,094 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Business First Bancshares by 0.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 494,253 shares of the company’s stock worth $12,183,000 after acquiring an additional 3,358 shares during the period. Mendon Capital Advisors Corp purchased a new position in shares of Business First Bancshares during the 4th quarter worth about $10,968,000. Ranger Investment Management L.P. boosted its position in shares of Business First Bancshares by 5.4% in the fourth quarter. Ranger Investment Management L.P. now owns 333,918 shares of the company’s stock worth $8,231,000 after acquiring an additional 17,095 shares during the last quarter. Finally, Kennedy Capital Management LLC grew its holdings 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 valued at $5,552,000 after purchasing an additional 59,297 shares during the period. 47.35% of the stock is owned by hedge funds and other institutional investors.

About Business First Bancshares

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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.

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