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

Business First Bancshares (NASDAQ:BFST) had its price objective boosted by analysts at DA Davidson from $32.00 to $33.00 in a report issued on Monday, MarketBeat.com reports. The brokerage currently has a “buy” rating on the stock. DA Davidson’s target price indicates a potential upside of 20.37% from the stock’s current price.

Several other equities research analysts have also issued reports on BFST. Raymond James Financial lifted their price objective 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. Stephens boosted their price target on Business First Bancshares from $34.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Business First Bancshares in a report on Wednesday. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Business First Bancshares has an average rating of “Moderate Buy” and an average price target of $33.00.

Business First Bancshares Stock Up 0.6%

Shares of NASDAQ BFST traded up $0.16 during trading hours on Monday, hitting $27.42. The stock had a trading volume of 27,718 shares, compared to its average volume of 114,324. The company has a market capitalization of $811.76 million, a P/E ratio of 9.83 and a beta of 0.86. The firm’s 50-day moving average price is $26.64 and its two-hundred day moving average price is $25.21. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.00 and a current ratio of 1.00. Business First Bancshares has a 52 week low of $20.07 and a 52 week high of $28.84.

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

Business First Bancshares declared that its Board of Directors has approved a stock buyback program on Tuesday, October 28th that allows the company to repurchase $30.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 4.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at Business First Bancshares

In related news, Director Rick D. Day purchased 1,600 shares of Business First Bancshares stock in a transaction on Tuesday, October 28th. The stock was purchased at an average cost of $24.21 per share, with a total value of $38,736.00. Following the acquisition, the director directly owned 265,885 shares in the company, valued at approximately $6,437,075.85. This trade represents a 0.61% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Greg Robertson sold 1,400 shares of the business’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 transaction, the chief financial officer owned 67,835 shares in the company, valued at approximately $1,791,522.35. The trade was a 2.02% decrease in their position. The SEC filing for this sale provides additional information. 6.45% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Business First Bancshares

Institutional investors have recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd raised its holdings in Business First Bancshares by 3.2% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 14,510 shares of the company’s stock valued at $343,000 after acquiring an additional 454 shares in the last quarter. Campbell & CO Investment Adviser LLC increased its position in shares of Business First Bancshares by 2.6% during the second quarter. Campbell & CO Investment Adviser LLC now owns 17,751 shares of the company’s stock valued at $438,000 after purchasing an additional 457 shares during the period. Ameritas Investment Partners Inc. raised 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 valued at $72,000 after purchasing an additional 540 shares in the last quarter. Arizona State Retirement System lifted its position in Business First Bancshares by 7.4% in 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 during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake 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 buying an additional 624 shares in the last quarter. 47.35% of the stock is owned by institutional investors and hedge funds.

About Business First Bancshares

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.