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

Business First Bancshares, Inc. (NASDAQ:BFST)’s stock price gapped up prior to trading on Friday following a better than expected earnings announcement. 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 the consensus estimate of $0.57 by $0.11. Business First Bancshares had a net margin of 15.90% and a return on equity of 12.19%. The business had revenue of $113.52 million during the quarter, compared to analysts’ expectations of $65.24 million. During the same quarter in the prior year, the company posted $0.71 earnings per share.

Wall Street Analyst Weigh In

Separately, Hovde Group increased their target price on shares of Business First Bancshares from $29.00 to $30.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Business First Bancshares has a consensus rating of “Moderate Buy” and a consensus price target of $26.67.

Insiders Place Their Bets

In other Business First Bancshares news, insider Warren Mcdonald sold 1,532 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $25.71, for a total transaction of $39,387.72. Following the sale, the insider now directly owns 20,595 shares of the company’s stock, valued at approximately $529,497.45. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Business First Bancshares news, Director Joseph Vernon Johnson sold 5,574 shares of the company’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $25.38, for a total transaction of $141,468.12. Following the sale, the director now directly owns 213,357 shares of the company’s stock, valued at approximately $5,415,000.66. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Warren Mcdonald sold 1,532 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $25.71, for a total transaction of $39,387.72. Following the sale, the insider now directly owns 20,595 shares in the company, valued at $529,497.45. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,906 shares of company stock valued at $377,392. 6.45% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Business First Bancshares

Large investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC bought a new position in shares of Business First Bancshares in the second quarter valued at about $106,000. Acadian Asset Management LLC bought a new position in shares of Business First Bancshares in the second quarter valued at about $116,000. BNP Paribas Financial Markets raised its position in shares of Business First Bancshares by 75.8% in the first quarter. BNP Paribas Financial Markets now owns 11,608 shares of the company’s stock valued at $259,000 after purchasing an additional 5,004 shares during the period. Argent Advisors Inc. raised its position in shares of Business First Bancshares by 4.0% in the second quarter. Argent Advisors Inc. now owns 12,949 shares of the company’s stock valued at $282,000 after purchasing an additional 497 shares during the period. Finally, SG Americas Securities LLC raised its position in shares of 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 period. 47.35% of the stock is owned by institutional investors.

Business First Bancshares Price Performance

The company has a market capitalization of $662.29 million, a P/E ratio of 10.22 and a beta of 0.97. The company’s 50-day moving average price is $24.84 and its two-hundred day moving average price is $22.73. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.98 and a quick ratio of 0.98.

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.