Business First Bancshares, Inc. (NASDAQ:BFST) Sees Large Growth in Short Interest

Business First Bancshares, Inc. (NASDAQ:BFST) was the recipient of a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 216,200 shares, a growth of 45.2% from the October 31st total of 148,900 shares. Based on an average daily volume of 85,200 shares, the short-interest ratio is presently 2.5 days.

Business First Bancshares Stock Down 0.8 %

NASDAQ BFST traded down $0.22 on Friday, reaching $28.50. The company had a trading volume of 63,535 shares, compared to its average volume of 66,287. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.99 and a quick ratio of 0.99. Business First Bancshares has a 1 year low of $18.97 and a 1 year high of $30.30. The firm has a 50-day moving average of $26.59 and a 200-day moving average of $23.97. The firm has a market capitalization of $841.89 million, a PE ratio of 12.28 and a beta of 0.97.

Business First Bancshares (NASDAQ:BFST) last released its quarterly earnings results on Thursday, October 24th. The company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.11. The business had revenue of $113.52 million during the quarter, compared to analyst estimates of $65.24 million. Business First Bancshares had a net margin of 14.92% and a return on equity of 11.57%. During the same period last year, the business earned $0.71 EPS. On average, equities research analysts anticipate that Business First Bancshares will post 2.31 EPS for the current fiscal year.

Business First Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, November 30th. Investors of record on Friday, November 15th will be paid a $0.14 dividend. The ex-dividend date is Friday, November 15th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.96%. Business First Bancshares’s dividend payout ratio (DPR) is presently 24.14%.

Analysts Set New Price Targets

Separately, Hovde Group lowered shares of Business First Bancshares from an “outperform” rating to a “market perform” rating and lifted their target price for the company from $30.00 to $31.50 in a report on Wednesday, November 13th.

Insider Buying and Selling

In related news, Director Joseph Vernon Johnson sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $26.33, for a total value of $65,825.00. Following the transaction, the director now owns 183,057 shares in the company, valued at approximately $4,819,890.81. This trade represents a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Warren Mcdonald sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $24.68, for a total transaction of $37,020.00. Following the sale, the insider now owns 19,095 shares of the company’s stock, valued at approximately $471,264.60. This represents a 7.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,980 shares of company stock valued at $366,992. Insiders own 6.45% of the company’s stock.

Institutional Trading of Business First Bancshares

Several institutional investors have recently added to or reduced their stakes in BFST. CANADA LIFE ASSURANCE Co increased its holdings in Business First Bancshares by 2,249.7% in the first quarter. CANADA LIFE ASSURANCE Co now owns 22,346 shares of the company’s stock valued at $499,000 after buying an additional 21,395 shares during the last quarter. Sequoia Financial Advisors LLC bought a new stake in shares of Business First Bancshares in the 2nd quarter valued at approximately $450,000. Bank of New York Mellon Corp raised its position in shares of Business First Bancshares by 7.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 109,979 shares of the company’s stock valued at $2,393,000 after acquiring an additional 7,390 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in Business First Bancshares during the second quarter worth $106,000. Finally, Smith Shellnut Wilson LLC ADV boosted its holdings in Business First Bancshares by 4.3% in the second quarter. Smith Shellnut Wilson LLC ADV now owns 121,136 shares of the company’s stock worth $2,636,000 after purchasing an additional 4,975 shares during the period. 47.35% of the stock is owned by institutional investors and hedge funds.

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.