Business First Bancshares (NASDAQ:BFST) Shares Gap Up Following Strong Earnings

Business First Bancshares, Inc. (NASDAQ:BFST)’s stock price gapped up before the market opened on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $25.04, but opened at $25.94. Business First Bancshares shares last traded at $25.78, with a volume of 3,179 shares changing hands.

The company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.11. Business First Bancshares had a return on equity of 12.19% and a net margin of 15.90%. The business had revenue of $113.52 million during the quarter, compared to the consensus estimate of $65.24 million. During the same period in the prior year, the firm posted $0.71 EPS.

Analyst Ratings Changes

Separately, Hovde Group lifted their price objective on Business First Bancshares from $29.00 to $30.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Business First Bancshares currently has a consensus rating of “Moderate Buy” and an average price target of $26.67.

Insider Activity

In related news, insider Warren Mcdonald sold 1,500 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $24.68, for a total transaction of $37,020.00. Following the completion of the sale, the insider now directly owns 19,095 shares of the company’s stock, valued at approximately $471,264.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Business First Bancshares news, insider Warren Mcdonald sold 1,500 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $24.68, for a total value of $37,020.00. Following the transaction, the insider now directly owns 19,095 shares of the company’s stock, valued at $471,264.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Joseph Vernon Johnson sold 5,574 shares of the company’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $25.38, for a total value of $141,468.12. Following the completion of the sale, the director now directly owns 213,357 shares of the company’s stock, valued at $5,415,000.66. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,906 shares of company stock valued at $377,392. Company insiders own 6.45% of the company’s stock.

Institutional Trading of Business First Bancshares

Several large investors have recently bought and sold shares of BFST. Argent Advisors Inc. lifted its holdings in Business First Bancshares by 4.0% in the 2nd quarter. Argent Advisors Inc. now owns 12,949 shares of the company’s stock worth $282,000 after buying an additional 497 shares in the last quarter. ELCO Management Co. LLC increased its position in shares of Business First Bancshares by 3.0% during the second quarter. ELCO Management Co. LLC now owns 20,307 shares of the company’s stock worth $442,000 after acquiring an additional 585 shares during the last quarter. Cornercap Investment Counsel Inc. lifted its stake in shares of Business First Bancshares by 3.3% in the second quarter. Cornercap Investment Counsel Inc. now owns 21,970 shares of the company’s stock worth $478,000 after acquiring an additional 708 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Business First Bancshares by 5.6% in the first quarter. SG Americas Securities LLC now owns 14,506 shares of the company’s stock valued at $323,000 after purchasing an additional 771 shares during the last quarter. Finally, ClariVest Asset Management LLC boosted its holdings in Business First Bancshares by 2.9% in the second quarter. ClariVest Asset Management LLC now owns 41,849 shares of the company’s stock valued at $911,000 after purchasing an additional 1,170 shares during the last quarter. Institutional investors and hedge funds own 47.35% of the company’s stock.

Business First Bancshares Trading Up 3.0 %

The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.69. The business has a 50 day simple moving average of $24.71 and a two-hundred day simple moving average of $22.68. The stock has a market cap of $657.44 million, a price-to-earnings ratio of 9.86 and a beta of 0.97.

About Business First Bancshares

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.