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FY2022 EPS Estimates for Business First Bancshares, Inc. Cut by Analyst (NASDAQ:BFST)

Financial News Live ·  Sep 11, 2022 01:11

Business First Bancshares, Inc. (NASDAQ:BFST – Get Rating) – Equities researchers at DA Davidson lowered their FY2022 EPS estimates for shares of Business First Bancshares in a report issued on Wednesday, September 7th. DA Davidson analyst K. Fitzsimmons now expects that the company will earn $2.43 per share for the year, down from their prior estimate of $2.48. The consensus estimate for Business First Bancshares' current full-year earnings is $2.46 per share.

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Separately, Raymond James cut their price target on shares of Business First Bancshares from $33.00 to $29.00 and set a "strong-buy" rating on the stock in a report on Thursday, July 7th.

Business First Bancshares Trading Up 2.4 %

Shares of NASDAQ:BFST opened at $23.22 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.83. Business First Bancshares has a 52-week low of $20.19 and a 52-week high of $29.50. The stock has a market cap of $524.31 million, a price-to-earnings ratio of 11.00 and a beta of 0.83. The business has a 50-day moving average price of $22.92 and a 200-day moving average price of $22.98.

Business First Bancshares (NASDAQ:BFST – Get Rating) last released its earnings results on Tuesday, July 26th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.06. Business First Bancshares had a return on equity of 10.74% and a net margin of 21.55%. The firm had revenue of $56.58 million for the quarter, compared to the consensus estimate of $55.11 million.

Hedge Funds Weigh In On Business First Bancshares

Several institutional investors have recently made changes to their positions in BFST. The Manufacturers Life Insurance Company grew its position in Business First Bancshares by 5.8% during the first quarter. The Manufacturers Life Insurance Company now owns 662,051 shares of the company's stock valued at $16,108,000 after buying an additional 36,323 shares during the period. Silvercrest Asset Management Group LLC acquired a new stake in shares of Business First Bancshares during the 4th quarter valued at about $11,801,000. State Street Corp grew its position in shares of Business First Bancshares by 2.7% during the 2nd quarter. State Street Corp now owns 368,636 shares of the company's stock valued at $7,856,000 after acquiring an additional 9,728 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Business First Bancshares by 5.3% in the 1st quarter. JPMorgan Chase & Co. now owns 272,038 shares of the company's stock valued at $6,619,000 after purchasing an additional 13,611 shares in the last quarter. Finally, Kennedy Capital Management Inc. acquired a new position in Business First Bancshares in the 2nd quarter worth about $3,942,000. 33.70% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director John P. Ducrest acquired 1,712 shares of the firm's stock in a transaction dated Thursday, August 4th. The stock was acquired at an average price of $23.39 per share, with a total value of $40,043.68. Following the acquisition, the director now directly owns 8,348 shares in the company, valued at approximately $195,259.72. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 7.60% of the stock is owned by insiders.

Business First Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 31st. Shareholders of record on Monday, August 15th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend was Friday, August 12th. Business First Bancshares's payout ratio is 22.75%.

Business First Bancshares Company Profile

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Business First Bancshares, Inc operates as the bank holding company for b1BANK that provides various banking products and services. 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.

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