Business First Bancshares (NASDAQ:BFST) Shares Gap Up on Better-Than-Expected Earnings

Shares of Business First Bancshares, Inc. (NASDAQ:BFST - Get Free Report) gapped up before the market opened on Friday following a stronger than expected earnings report. The stock had previously closed at $25.04, but opened at $25.94. Business First Bancshares shares last traded at $25.78, with a volume of 3,179 shares.

The company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.57 by $0.11. The firm had revenue of $113.52 million during the quarter, compared to the consensus estimate 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 company earned $0.71 earnings per share.

Wall Street Analysts Forecast Growth

Separately, Hovde Group boosted their target price on shares of Business First Bancshares from $29.00 to $30.00 and gave the stock an "outperform" rating in a report on Friday, July 26th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $26.67.

Insider Activity at Business First Bancshares

In other Business First Bancshares news, EVP Saundra Strong sold 6,300 shares of the firm's stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $25.32, for a total transaction of $159,516.00. Following the completion of the transaction, the executive vice president now owns 11,275 shares in the company, valued at approximately $285,483. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Warren Mcdonald sold 1,500 shares of the company's stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $24.68, for a total transaction of $37,020.00. Following the sale, the insider now owns 19,095 shares in the company, valued at $471,264.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Saundra Strong sold 6,300 shares of Business First Bancshares stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $25.32, for a total value of $159,516.00. Following the completion of the sale, the executive vice president now owns 11,275 shares of the company's stock, valued at approximately $285,483. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,906 shares of company stock worth $377,392 over the last ninety days. Insiders own 6.45% of the company's stock.

Institutional Trading of Business First Bancshares

Large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its stake 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 acquiring an additional 50,955 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Business First Bancshares by 19.6% in the 2nd quarter. American Century Companies Inc. now owns 418,869 shares of the company's stock valued at $9,115,000 after buying an additional 68,506 shares during the period. Mendon Capital Advisors Corp grew its stake in shares of Business First Bancshares by 1,380.0% in the 2nd quarter. Mendon Capital Advisors Corp now owns 370,000 shares of the company's stock valued at $8,051,000 after buying an additional 345,000 shares during the period. Russell Investments Group Ltd. increased its position in Business First Bancshares by 6.1% in the 1st quarter. Russell Investments Group Ltd. now owns 201,149 shares of the company's stock valued at $4,482,000 after buying an additional 11,506 shares in the last quarter. Finally, Smith Shellnut Wilson LLC ADV raised its stake in Business First Bancshares by 4.3% during the 2nd quarter. Smith Shellnut Wilson LLC ADV now owns 121,136 shares of the company's stock worth $2,636,000 after buying an additional 4,975 shares during the period. Institutional investors and hedge funds own 47.35% of the company's stock.

Business First Bancshares Trading Up 3.7 %

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 firm has a fifty day simple moving average of $24.84 and a 200-day simple moving average of $22.73. The firm has a market cap of $662.29 million, a P/E ratio of 10.22 and a beta of 0.97.

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.