Business First Bancshares (NASDAQ:BFST) Upgraded to Outperform at Hovde Group

Business First Bancshares (NASDAQ:BFSTGet Free Report) was upgraded by research analysts at Hovde Group from a “market perform” rating to an “outperform” rating in a research note issued to investors on Friday, Marketbeat Ratings reports. The firm presently has a $33.00 price objective on the stock, up from their previous price objective of $31.50. Hovde Group’s target price indicates a potential upside of 19.18% from the company’s current price.

Separately, Raymond James raised Business First Bancshares from a “market perform” rating to an “outperform” rating and set a $30.00 target price on the stock in a research report on Thursday, December 19th.

Check Out Our Latest Stock Report on Business First Bancshares

Business First Bancshares Stock Up 8.8 %

NASDAQ:BFST opened at $27.69 on Friday. 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 stock has a market capitalization of $817.96 million, a P/E ratio of 11.94 and a beta of 1.00. The company’s 50-day simple moving average is $26.63 and its 200-day simple moving average is $25.45. Business First Bancshares has a fifty-two week low of $18.97 and a fifty-two week high of $30.30.

Business First Bancshares (NASDAQ:BFSTGet Free Report) last released its quarterly earnings results on Thursday, January 23rd. The company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.17. Business First Bancshares had a net margin of 14.92% and a return on equity of 11.57%. On average, equities analysts anticipate that Business First Bancshares will post 2.27 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Business First Bancshares news, Director Joseph Vernon Johnson sold 2,500 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $26.33, for a total transaction of $65,825.00. Following the sale, the director now directly owns 183,057 shares of the company’s stock, valued at approximately $4,819,890.81. This trade represents a 1.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 12,480 shares of company stock valued at $329,972 over the last 90 days. Insiders own 6.45% of the company’s stock.

Institutional Trading of Business First Bancshares

Several hedge funds and other institutional investors have recently bought and sold shares of BFST. E&G Advisors LP purchased a new stake in Business First Bancshares in the 4th quarter worth approximately $702,000. Howard Financial Services LTD. purchased a new stake in Business First Bancshares during the fourth quarter worth $466,000. JPMorgan Chase & Co. grew its position in Business First Bancshares by 7.1% during the third quarter. JPMorgan Chase & Co. now owns 407,801 shares of the company’s stock valued at $10,468,000 after buying an additional 27,023 shares during the period. Franklin Resources Inc. increased its holdings in Business First Bancshares by 25.3% in the third quarter. Franklin Resources Inc. now owns 171,115 shares of the company’s stock valued at $4,365,000 after buying an additional 34,602 shares in the last quarter. Finally, Barclays PLC raised its position in shares of Business First Bancshares by 158.1% in the third quarter. Barclays PLC now owns 46,792 shares of the company’s stock worth $1,201,000 after acquiring an additional 28,663 shares during the period. 47.35% of the stock is owned by institutional investors and hedge funds.

About Business First Bancshares

(Get Free Report)

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.

Further Reading

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