Business First Bancshares, Inc. (NASDAQ:BFST) Short Interest Down 19.1% in October

Business First Bancshares, Inc. (NASDAQ:BFST) was the recipient of a significant drop in short interest in October. As of October 15th, there was short interest totalling 151,300 shares, a drop of 19.1% from the September 30th total of 187,000 shares. Based on an average daily volume of 74,700 shares, the days-to-cover ratio is presently 2.0 days.

Analysts Set New Price Targets

Separately, Hovde Group raised their price target on Business First Bancshares from $29.00 to $30.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th.

Business First Bancshares Stock Performance

Business First Bancshares stock traded up $0.12 during trading hours on Tuesday, hitting $26.66. 24,394 shares of the stock traded hands, compared to its average volume of 61,125. Business First Bancshares has a 1 year low of $18.97 and a 1 year high of $26.93. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market capitalization of $679.88 million, a price-to-earnings ratio of 10.45 and a beta of 0.97. The firm’s 50 day moving average price is $24.91 and its 200-day moving average price is $22.80.

Business First Bancshares (NASDAQ:BFST) last posted its earnings results on Thursday, October 24th. The company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.11. The firm had revenue of $113.52 million for the quarter, compared to analysts’ expectations of $65.24 million. Business First Bancshares had a return on equity of 12.19% and a net margin of 15.90%. During the same period last year, the firm earned $0.71 EPS. As a group, equities analysts expect that Business First Bancshares will post 2.14 EPS for the current fiscal year.

Business First Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, November 30th. Investors of record on Friday, November 15th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend is Friday, November 15th. Business First Bancshares’s payout ratio is currently 22.05%.

Insider Activity at Business First Bancshares

In other news, insider Warren Mcdonald sold 1,532 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $25.71, for a total value of $39,387.72. Following the sale, the insider now directly owns 20,595 shares in the company, valued at $529,497.45. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 6.45% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Business First Bancshares

Hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC acquired a new stake in Business First Bancshares during the 2nd quarter worth approximately $106,000. Acadian Asset Management LLC acquired a new stake in shares of Business First Bancshares in the second quarter valued at approximately $116,000. BNP Paribas Financial Markets boosted its stake in Business First Bancshares by 75.8% during the 1st quarter. BNP Paribas Financial Markets now owns 11,608 shares of the company’s stock worth $259,000 after purchasing an additional 5,004 shares during the period. Argent Advisors Inc. grew its holdings in shares of Business First Bancshares by 4.0% during the second quarter. Argent Advisors Inc. now owns 12,949 shares of the company’s stock worth $282,000 after buying an additional 497 shares during the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of Business First Bancshares by 5.6% in the 1st 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. 47.35% of the stock is currently owned by hedge funds and other institutional investors.

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.