$40.53 Million in Sales Expected for Business First Bancshares Inc (NASDAQ:BFST) This Quarter

Equities research analysts predict that Business First Bancshares Inc (NASDAQ:BFST) will post $40.53 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Business First Bancshares’ earnings, with the lowest sales estimate coming in at $40.36 million and the highest estimate coming in at $40.70 million. Business First Bancshares reported sales of $22.18 million in the same quarter last year, which indicates a positive year over year growth rate of 82.7%. The company is scheduled to issue its next quarterly earnings results on Wednesday, October 28th.

On average, analysts expect that Business First Bancshares will report full-year sales of $143.85 million for the current year, with estimates ranging from $142.07 million to $145.63 million. For the next financial year, analysts forecast that the business will report sales of $154.80 million, with estimates ranging from $153.12 million to $156.48 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Business First Bancshares.

Business First Bancshares (NASDAQ:BFST) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.11. The company had revenue of $35.92 million for the quarter, compared to analysts’ expectations of $33.81 million. Business First Bancshares had a net margin of 13.94% and a return on equity of 8.75%.

A number of analysts recently issued reports on the stock. DA Davidson lowered shares of Business First Bancshares from a “buy” rating to a “neutral” rating and set a $15.00 price target for the company. in a research note on Friday, May 1st. BidaskClub raised shares of Business First Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, June 10th. Zacks Investment Research raised shares of Business First Bancshares from a “sell” rating to a “hold” rating in a report on Thursday. ValuEngine raised shares of Business First Bancshares from a “sell” rating to a “hold” rating in a report on Friday, July 3rd. Finally, Raymond James downgraded shares of Business First Bancshares from a “strong-buy” rating to a “market perform” rating in a report on Wednesday, April 29th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $22.25.

Shares of NASDAQ:BFST traded up $0.09 during midday trading on Tuesday, reaching $13.64. The company had a trading volume of 30,046 shares, compared to its average volume of 29,266. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.03 and a quick ratio of 1.03. The stock’s fifty day moving average price is $14.39 and its 200-day moving average price is $16.82. The stock has a market capitalization of $281.90 million, a P/E ratio of 8.07 and a beta of 0.97. Business First Bancshares has a one year low of $9.17 and a one year high of $26.64.

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Saturday, August 15th will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, August 13th. This represents a $0.40 annualized dividend and a yield of 2.93%. Business First Bancshares’s dividend payout ratio (DPR) is presently 22.22%.

In other Business First Bancshares news, Director Steven Gerard White bought 3,500 shares of the stock in a transaction on Thursday, May 14th. The shares were bought at an average price of $11.18 per share, with a total value of $39,130.00. Following the purchase, the director now directly owns 7,140 shares in the company, valued at approximately $79,825.20. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 7.60% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in shares of Business First Bancshares by 2.5% during the first quarter. BlackRock Inc. now owns 705,856 shares of the company’s stock worth $9,529,000 after purchasing an additional 17,211 shares during the period. State Street Corp grew its position in shares of Business First Bancshares by 3.3% in the 1st quarter. State Street Corp now owns 210,685 shares of the company’s stock valued at $2,844,000 after buying an additional 6,677 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Business First Bancshares by 9.2% during the 1st quarter. Geode Capital Management LLC now owns 176,332 shares of the company’s stock valued at $2,380,000 after purchasing an additional 14,805 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Business First Bancshares by 460.3% during the 1st quarter. JPMorgan Chase & Co. now owns 83,168 shares of the company’s stock worth $1,122,000 after buying an additional 68,325 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Business First Bancshares by 53.9% during the 4th quarter. Bank of New York Mellon Corp now owns 72,308 shares of the company’s stock worth $1,803,000 after buying an additional 25,310 shares during the period. 27.00% 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 Business First Bank that provides various banking products and services. It offers various deposit products and services, including a range of checking, demand, money market, time, and savings accounts, as well as certificates of deposit; and remote deposit capture and direct deposit services.

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