Bank of New York Mellon Corp Increases Holdings in Business First Bancshares, Inc. $BFST

Bank of New York Mellon Corp increased its position in Business First Bancshares, Inc. (NASDAQ:BFST) by 255.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 441,853 shares of the company’s stock after acquiring an additional 317,650 shares during the period. Bank of New York Mellon Corp owned approximately 1.35% of Business First Bancshares worth $11,948,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of BFST. MQS Management LLC purchased a new position in Business First Bancshares during the 1st quarter valued at about $579,000. Hsbc Holdings PLC purchased a new stake in shares of Business First Bancshares in the first quarter valued at about $1,636,000. Kestra Advisory Services LLC purchased a new stake in shares of Business First Bancshares in the first quarter valued at about $1,282,000. Royce & Associates LP grew its position in shares of Business First Bancshares by 27.0% in the fourth quarter. Royce & Associates LP now owns 823,364 shares of the company’s stock valued at $21,523,000 after purchasing an additional 175,284 shares during the last quarter. Finally, Qube Research & Technologies Ltd grew its position in shares of Business First Bancshares by 20.3% in the second quarter. Qube Research & Technologies Ltd now owns 61,873 shares of the company’s stock valued at $1,525,000 after purchasing an additional 10,440 shares during the last quarter. 47.35% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Business First Bancshares

In other Business First Bancshares news, Director Joseph Vernon Johnson sold 2,000 shares of the stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $31.15, for a total transaction of $62,300.00. Following the transaction, the director directly owned 172,073 shares in the company, valued at $5,360,073.95. This represents a 1.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Keith Mansfield sold 4,200 shares of the business’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $32.08, for a total transaction of $134,736.00. Following the completion of the sale, the chief operating officer directly owned 77,139 shares of the company’s stock, valued at $2,474,619.12. The trade was a 5.16% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 72,795 shares of company stock valued at $2,185,668. Insiders own 5.67% of the company’s stock.

Business First Bancshares Price Performance

Business First Bancshares stock opened at $31.82 on Friday. The firm has a fifty day moving average of $29.81 and a 200-day moving average of $28.43. Business First Bancshares, Inc. has a 52-week low of $22.56 and a 52-week high of $32.39. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $1.04 billion, a P/E ratio of 11.28 and a beta of 0.78.

Business First Bancshares (NASDAQ:BFST) last issued its earnings results on Thursday, July 23rd. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.01. Business First Bancshares had a return on equity of 11.31% and a net margin of 17.07%.The company had revenue of $91.81 million during the quarter, compared to the consensus estimate of $91.31 million. As a group, analysts predict that Business First Bancshares, Inc. will post 3.02 EPS for the current year.

Business First Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Saturday, August 15th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $0.60 annualized dividend and a yield of 1.9%. Business First Bancshares’s dividend payout ratio is currently 21.28%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Hovde Group boosted their price target on Business First Bancshares from $32.50 to $36.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Stephens increased their price objective on Business First Bancshares from $34.00 to $36.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. DA Davidson lifted their price objective on Business First Bancshares from $33.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Business First Bancshares in a research report on Monday, July 6th. Five research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Business First Bancshares presently has a consensus rating of “Buy” and a consensus price target of $34.50.

Business First Bancshares News Roundup

Here are the key news stories impacting Business First Bancshares this week:

• Positive Sentiment: Analysts remain bullish following the quarterly results: Stephens and Hovde Group raised their price targets to $36, while DA Davidson lifted its target to $35. The consensus rating is “Buy,” with an average target of $34.50, implying additional upside from recent levels.
• Positive Sentiment: Business First Bancshares reported quarterly EPS of $0.71, slightly ahead of the $0.70 consensus estimate. The bank also maintains a quarterly dividend of $0.15 per share, or $0.60 annualized, representing a yield of approximately 1.9% and a payout ratio of 21.28%.
• Positive Sentiment: Director Rick Day purchased 1,500 shares for approximately $47,415, modestly increasing his ownership and providing a small vote of confidence from an insider. Insider Buying: Business First Bancshares Director Acquires Shares
• Neutral Sentiment: BFST trades above both its 50-day and 200-day moving averages and near its 52-week high, indicating strong recent momentum but also leaving the stock more sensitive to profit-taking. Institutional investors own approximately 47.35% of the shares.
• Negative Sentiment: Several insiders sold shares in recent transactions. Director George W. Cummings III sold a combined 20,000 shares for roughly $639,400, COO Keith Mansfield sold 4,200 shares for $134,736, and Director Joseph Vernon Johnson sold 12,000 shares for approximately $379,800. Although each executive retains a substantial stake, the cluster of sales may be interpreted as a near-term caution signal. Business First Bancshares Insider Sale SEC Filing

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.