DA Davidson Issues Positive Forecast for Business First Bancshares (NASDAQ:BFST) Stock Price

Business First Bancshares (NASDAQ:BFST) had its price target raised by research analysts at DA Davidson from $35.00 to $39.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. DA Davidson‘s target price points to a potential upside of 22.20% from the company’s previous close.

Several other equities research analysts also recently commented on the stock. Stephens lifted their target price on shares of Business First Bancshares from $34.00 to $36.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. Hovde Group boosted their price target on shares of Business First Bancshares from $36.00 to $37.00 and gave the company an “outperform” rating in a research note on Thursday, August 27th. Finally, Weiss Ratings upgraded Business First Bancshares from a “buy (b)” rating to a “buy (b+)” rating in a report on Friday. Five research analysts have rated the stock with a Buy rating. According to data from MarketBeat, Business First Bancshares has an average rating of “Buy” and a consensus target price of $35.75.

Business First Bancshares Price Performance

NASDAQ:BFST traded up $0.10 during mid-day trading on Tuesday, reaching $31.92. The stock had a trading volume of 41,048 shares, compared to its average volume of 204,055. Business First Bancshares has a 12 month low of $23.55 and a 12 month high of $32.53. The stock has a 50-day simple moving average of $31.09 and a two-hundred day simple moving average of $29.21. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $1.04 billion, a PE ratio of 11.33 and a beta of 0.78.

Business First Bancshares (NASDAQ:BFST) last posted its quarterly earnings results on Monday, October 26th. The company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.05. The company had revenue of $93.00 million during the quarter, compared to analysts’ expectations of $93.25 million. Business First Bancshares had a return on equity of 11.03% and a net margin of 17.07%. On average, equities analysts anticipate that Business First Bancshares will post 3.00 earnings per share for the current year.

Insider Buying and Selling at Business First Bancshares

In other news, EVP Saundra Strong sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $31.98, for a total value of $31,980.00. Following the completion of the transaction, the executive vice president directly owned 4,878 shares in the company, valued at approximately $155,998.44. This trade represents a 17.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph Vernon Johnson sold 2,000 shares of the firm’s 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 completion of the transaction, the director directly owned 172,073 shares of the company’s stock, valued at approximately $5,360,073.95. The trade was a 1.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 43,275 shares of company stock worth $1,371,575. Company insiders own 5.67% of the company’s stock.

Institutional Investors Weigh In On Business First Bancshares

Several hedge funds have recently bought and sold shares of the stock. Sterling Capital Management LLC grew its position in Business First Bancshares by 7.2% in the third quarter. Sterling Capital Management LLC now owns 10,060 shares of the company’s stock worth $303,000 after acquiring an additional 678 shares in the last quarter. Kings Path Partners LLC bought a new stake in Business First Bancshares during the 3rd quarter valued at $595,000. Steel Grove Capital Advisors LLC bought a new position in shares of Business First Bancshares during the third quarter valued at about $219,000. Sequoia Financial Advisors LLC bought a new stake in shares of Business First Bancshares in the 2nd quarter worth approximately $320,000. Finally, NewEdge Advisors LLC increased its position in Business First Bancshares by 454.4% during the 2nd quarter. NewEdge Advisors LLC now owns 7,667 shares of the company’s stock valued at $236,000 after purchasing an additional 6,284 shares during the period. 47.35% of the stock is currently owned by institutional investors.

Key Headlines Impacting Business First Bancshares

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

• Positive Sentiment: Business First reported third-quarter core earnings of $0.79 per diluted share, exceeding the $0.74 analyst consensus and rising from $0.72 a year earlier. Core net income increased to $26.0 million, up $2.7 million from the linked quarter. Business First Q3 Earnings Top Estimates
• Positive Sentiment: Management outlined goals to reduce nonperforming loans to approximately 50 basis points and improve return on assets to 1.25%. Progress on credit quality and profitability could support investor confidence if achieved. Business First Targets Reducing NPLs and Improving ROA
• Positive Sentiment: The company declared a quarterly dividend of $0.15 per share, or $0.60 annualized, representing a yield of roughly 1.9%. The payout provides ongoing shareholder support. Business First Declares Common Dividend
• Neutral Sentiment: Reported GAAP net income available to common shareholders was $23.2 million, or $0.71 per diluted share, while adjusted results excluded certain income and expenses. Investors may focus on the quality and sustainability of the earnings improvement.
• Neutral Sentiment: Revenue of $93.0 million was slightly below the $93.25 million consensus estimate, limiting the strength of the earnings beat. Commentary from the earnings call and valuation analyses will likely determine whether BFST’s recent gains are fully justified. Is Business First Bancshares a Bargain or Fully Priced?
• Negative Sentiment: The need to lower nonperforming loans signals continued credit-quality risk. Until asset quality improves, investors may remain cautious despite the earnings beat and management’s profitability targets.

About Business First Bancshares

Business First Bancshares, Inc is a bank holding company headquartered in Baton Rouge, Louisiana. Through its principal banking subsidiary, b1BANK, the company provides financial services to businesses, professionals and individual customers.

b1BANK offers commercial and consumer deposit accounts, commercial and real estate lending, residential mortgage loans, treasury management and other traditional banking services. The bank also provides wealth management and related financial services designed to support business owners, institutions and retail customers.

Business First Bancshares was established in 2006 and has expanded its presence across Louisiana and into Texas.