DA Davidson Has Optimistic Outlook of BFST FY2024 Earnings

Business First Bancshares, Inc. (NASDAQ:BFST) – Equities researchers at DA Davidson lifted their FY2024 earnings estimates for Business First Bancshares in a note issued to investors on Thursday, December 19th. DA Davidson analyst M. Navas now anticipates that the company will earn $2.28 per share for the year, up from their previous estimate of $2.17. The consensus estimate for Business First Bancshares’ current full-year earnings is $2.29 per share. DA Davidson also issued estimates for Business First Bancshares’ Q4 2024 earnings at $0.47 EPS.

BFST has been the topic of a number of other research reports. Hovde Group lowered Business First Bancshares from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $30.00 to $31.50 in a research note on Wednesday, November 13th. Raymond James upgraded shares of Business First Bancshares from a “market perform” rating to an “outperform” rating and set a $30.00 price target on the stock in a report on Thursday.

Business First Bancshares Trading Up 0.6 %

Shares of NASDAQ BFST opened at $25.82 on Friday. Business First Bancshares has a fifty-two week low of $18.97 and a fifty-two week high of $30.30. 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 cap of $762.75 million, a price-to-earnings ratio of 11.13 and a beta of 0.98. The business’s 50 day moving average price is $27.45 and its 200-day moving average price is $24.60.

Business First Bancshares (NASDAQ:BFST) last announced its quarterly earnings data on Thursday, October 24th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.11. The business had revenue of $113.52 million during the quarter, compared to the consensus estimate 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 quarter last year, the firm earned $0.71 earnings per share.

Business First Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, November 30th. Shareholders of record on Friday, November 15th were issued a dividend of $0.14 per share. The ex-dividend date was Friday, November 15th. This represents a $0.56 annualized dividend and a yield of 2.17%. Business First Bancshares’s payout ratio is currently 24.14%.

Insider Buying and Selling at Business First Bancshares

In other news, Director Joseph Vernon Johnson sold 3,980 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $26.63, for a total value of $105,987.40. Following the completion of the sale, the director now owns 203,077 shares in the company, valued at approximately $5,407,940.51. The trade was a 1.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 12,480 shares of company stock valued at $329,972 in the last ninety days. Corporate insiders own 6.45% of the company’s stock.

Hedge Funds Weigh In On Business First Bancshares

Several institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its holdings in Business First Bancshares by 8.2% during the second quarter. Dimensional Fund Advisors LP now owns 669,530 shares of the company’s stock worth $14,568,000 after buying an additional 50,955 shares during the period. State Street Corp raised its position in shares of Business First Bancshares by 5.0% in the 3rd quarter. State Street Corp now owns 523,626 shares of the company’s stock worth $13,441,000 after acquiring an additional 24,992 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Business First Bancshares by 19.6% during the 2nd quarter. American Century Companies Inc. now owns 418,869 shares of the company’s stock worth $9,115,000 after purchasing an additional 68,506 shares during the last quarter. Royce & Associates LP boosted its position in Business First Bancshares by 9.7% during the third quarter. Royce & Associates LP now owns 384,200 shares of the company’s stock valued at $9,862,000 after purchasing an additional 33,870 shares in the last quarter. Finally, Mendon Capital Advisors Corp grew its stake in Business First Bancshares by 1,380.0% in the second quarter. Mendon Capital Advisors Corp now owns 370,000 shares of the company’s stock valued at $8,051,000 after purchasing an additional 345,000 shares during the last quarter. 47.35% of the stock is owned by hedge funds and other institutional investors.

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.