Short Interest in Business First Bancshares, Inc. (NASDAQ:BFST) Grows By 6.4%

Business First Bancshares, Inc. (NASDAQ:BFST) saw a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 187,000 shares, an increase of 6.4% from the September 15th total of 175,800 shares. Based on an average daily trading volume, of 83,900 shares, the short-interest ratio is currently 2.2 days.

Business First Bancshares Price Performance

Shares of NASDAQ:BFST opened at $26.81 on Friday. Business First Bancshares has a twelve month low of $17.90 and a twelve month high of $26.85. The stock’s 50 day moving average is $24.39 and its 200-day moving average is $22.54. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $683.71 million, a price-to-earnings ratio of 10.56 and a beta of 0.97.

Business First Bancshares (NASDAQ:BFST) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.13. The firm had revenue of $112.05 million for the quarter, compared to analyst estimates of $63.16 million. Business First Bancshares had a net margin of 15.90% and a return on equity of 12.19%. During the same period last year, the firm earned $0.70 earnings per share. Sell-side analysts forecast that Business First Bancshares will post 2.14 EPS for the current fiscal year.

Business First Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Saturday, August 31st. Investors of record on Thursday, August 15th were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend was Thursday, August 15th. Business First Bancshares’s dividend payout ratio (DPR) is presently 22.05%.

Insider Activity

In related news, Director Joseph Vernon Johnson sold 5,574 shares of Business First Bancshares stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $25.38, for a total value of $141,468.12. Following the transaction, the director now directly owns 213,357 shares of the company’s stock, valued at $5,415,000.66. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Warren Mcdonald sold 1,500 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $24.68, for a total value of $37,020.00. Following the transaction, the insider now owns 19,095 shares in the company, valued at $471,264.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joseph Vernon Johnson sold 5,574 shares of the stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $25.38, for a total value of $141,468.12. Following the sale, the director now owns 213,357 shares of the company’s stock, valued at approximately $5,415,000.66. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,906 shares of company stock valued at $377,392. Company insiders own 6.45% of the company’s stock.

Institutional Investors Weigh In On Business First Bancshares

Several institutional investors and hedge funds have recently added to or reduced their stakes in BFST. BNP Paribas Financial Markets increased its position in shares of Business First Bancshares by 75.8% during the 1st 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 last quarter. Empowered Funds LLC increased its holdings in shares of Business First Bancshares by 8.0% in the first quarter. Empowered Funds LLC now owns 66,211 shares of the company’s stock worth $1,475,000 after purchasing an additional 4,900 shares during the period. SG Americas Securities LLC raised its holdings 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 acquiring an additional 771 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Business First Bancshares by 6.1% in the first quarter. Russell Investments Group Ltd. now owns 201,149 shares of the company’s stock worth $4,482,000 after purchasing an additional 11,506 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its position in Business First Bancshares by 2,249.7% during the first quarter. CANADA LIFE ASSURANCE Co now owns 22,346 shares of the company’s stock valued at $499,000 after purchasing an additional 21,395 shares during the last quarter. Hedge funds and other institutional investors own 47.35% of the company’s stock.

Analyst Ratings Changes

Separately, Hovde Group raised their price objective on shares of Business First Bancshares from $29.00 to $30.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $26.67.

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.