Brokers Offer Predictions for Business First Bancshares, Inc.’s Q2 2024 Earnings (NASDAQ:BFST)

Business First Bancshares, Inc. (NASDAQ:BFST) – Equities researchers at DA Davidson raised their Q2 2024 earnings per share estimates for Business First Bancshares in a note issued to investors on Thursday, June 27th. DA Davidson analyst M. Navas now expects that the company will earn $0.49 per share for the quarter, up from their previous forecast of $0.47. The consensus estimate for Business First Bancshares’ current full-year earnings is $2.02 per share.

Business First Bancshares (NASDAQ:BFST) last announced its earnings results on Thursday, April 25th. The company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.07). The firm had revenue of $60.92 million for the quarter, compared to the consensus estimate of $61.93 million. Business First Bancshares had a return on equity of 12.80% and a net margin of 17.08%.

Business First Bancshares Price Performance

Shares of NASDAQ BFST opened at $21.76 on Monday. The business’s 50 day moving average is $20.90 and its 200-day moving average is $21.88. Business First Bancshares has a 1-year low of $14.39 and a 1-year high of $25.57. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.72. The firm has a market cap of $554.88 million, a P/E ratio of 8.57 and a beta of 0.97.

Business First Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date was Tuesday, May 14th. Business First Bancshares’s dividend payout ratio is presently 22.05%.

Insider Buying and Selling at Business First Bancshares

In other news, Director Rick D. Day acquired 1,800 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The shares were bought at an average price of $20.30 per share, with a total value of $36,540.00. Following the acquisition, the director now directly owns 262,785 shares in the company, valued at approximately $5,334,535.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 6.45% of the company’s stock.

Institutional Investors Weigh In On Business First Bancshares

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Business First Bancshares by 1.3% during 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 period. The Manufacturers Life Insurance Company boosted its holdings in shares of Business First Bancshares by 0.7% in the fourth 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 stake in shares of Business First Bancshares in the fourth quarter worth $10,968,000. Ranger Investment Management L.P. boosted its position in Business First Bancshares by 5.4% during the 4th quarter. Ranger Investment Management L.P. now owns 333,918 shares of the company’s stock valued at $8,231,000 after acquiring an additional 17,095 shares in the last quarter. Finally, Kennedy Capital Management LLC lifted its holdings in shares of Business First Bancshares by 25.1% during 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 last quarter. Institutional investors own 47.35% of the company’s stock.

Business First Bancshares Company Profile

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.