Raymond James Financial Inc. Invests $1.36 Million in Business First Bancshares, Inc. (NASDAQ:BFST)

Raymond James Financial Inc. purchased a new position in Business First Bancshares, Inc. (NASDAQ:BFST) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 52,979 shares of the company’s stock, valued at approximately $1,362,000. Raymond James Financial Inc. owned approximately 0.18% of Business First Bancshares at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its stake in Business First Bancshares by 13.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 222,158 shares of the company’s stock worth $5,709,000 after purchasing an additional 25,920 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Business First Bancshares by 32.8% during the fourth quarter. Bank of New York Mellon Corp now owns 121,344 shares of the company’s stock valued at $3,119,000 after buying an additional 29,989 shares during the period. Americana Partners LLC bought a new stake in Business First Bancshares during the fourth quarter worth about $317,000. MGB Wealth Management LLC purchased a new stake in shares of Business First Bancshares in the 4th quarter worth approximately $841,000. Finally, Empowered Funds LLC increased its holdings in shares of Business First Bancshares by 5.1% during the fourth quarter. Empowered Funds LLC now owns 78,812 shares of the company’s stock valued at $2,025,000 after acquiring an additional 3,809 shares in the last quarter. Institutional investors own 47.35% of the company’s stock.

Business First Bancshares Price Performance

NASDAQ BFST opened at $24.73 on Thursday. Business First Bancshares, Inc. has a one year low of $18.97 and a one year high of $30.30. The stock has a 50-day moving average of $26.02 and a 200 day moving average of $26.26. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market capitalization of $730.82 million, a price-to-earnings ratio of 10.94 and a beta of 1.04.

Business First Bancshares (NASDAQ:BFST) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.17. Business First Bancshares had a return on equity of 11.88% and a net margin of 14.19%. On average, sell-side analysts forecast that Business First Bancshares, Inc. will post 2.72 EPS for the current year.

Business First Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Saturday, February 15th were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.26%. The ex-dividend date was Friday, February 14th. Business First Bancshares’s dividend payout ratio is presently 24.78%.

Insider Buying and Selling at Business First Bancshares

In related news, Director Rick D. Day acquired 1,500 shares of the stock in a transaction dated Wednesday, March 5th. The shares were purchased at an average cost of $25.46 per share, with a total value of $38,190.00. Following the transaction, the director now directly owns 264,285 shares in the company, valued at approximately $6,728,696.10. This represents a 0.57 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 6.45% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Hovde Group upgraded shares of Business First Bancshares from a “market perform” rating to an “outperform” rating and increased their price target for the company from $31.50 to $33.00 in a report on Friday, January 24th. Raymond James raised Business First Bancshares from a “market perform” rating to an “outperform” rating and set a $30.00 price objective on the stock in a research report on Thursday, December 19th.

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.