RMB Capital Management LLC raised its stake in Business First Bancshares, Inc. (NASDAQ:BFST) by 12.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 38,994 shares of the company’s stock after purchasing an additional 4,359 shares during the quarter. RMB Capital Management LLC owned 0.19% of Business First Bancshares worth $933,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Nisa Investment Advisors LLC bought a new stake in Business First Bancshares in the fourth quarter valued at approximately $31,000. Citigroup Inc. raised its holdings in shares of Business First Bancshares by 287.3% during the fourth quarter. Citigroup Inc. now owns 3,586 shares of the company’s stock valued at $73,000 after acquiring an additional 2,660 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of Business First Bancshares by 102.5% during the first quarter. BNP Paribas Arbitrage SA now owns 9,003 shares of the company’s stock valued at $215,000 after acquiring an additional 4,557 shares in the last quarter. Nkcfo LLC bought a new position in shares of Business First Bancshares during the first quarter valued at approximately $239,000. Finally, Asset Planning Services Inc. LA ADV bought a new position in shares of Business First Bancshares during the first quarter valued at approximately $239,000. Hedge funds and other institutional investors own 29.25% of the company’s stock.
A number of brokerages recently commented on BFST. TheStreet upgraded Business First Bancshares from a “c+” rating to a “b” rating in a report on Monday, April 12th. Zacks Investment Research raised Business First Bancshares from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Thursday, May 27th. Finally, DA Davidson raised Business First Bancshares from a “neutral” rating to a “buy” rating and upped their price target for the stock from $26.50 to $27.50 in a research note on Thursday, May 20th.
Business First Bancshares (NASDAQ:BFST) last released its earnings results on Wednesday, April 21st. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.03. Business First Bancshares had a return on equity of 11.20% and a net margin of 19.72%. The firm had revenue of $45.39 million for the quarter, compared to analysts’ expectations of $44.27 million. As a group, equities research analysts predict that Business First Bancshares, Inc. will post 2.13 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, May 31st. Stockholders of record on Saturday, May 15th were paid a $0.12 dividend. This is a boost from Business First Bancshares’s previous quarterly dividend of $0.10. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date was Thursday, May 13th. Business First Bancshares’s dividend payout ratio is currently 23.41%.
In other news, Director Steven Gerard White sold 3,000 shares of the stock in a transaction on Friday, April 30th. The stock was sold at an average price of $23.94, for a total value of $71,820.00. Also, Director John P. Ducrest purchased 4,550 shares of the stock in a transaction dated Wednesday, April 28th. The shares were acquired at an average cost of $23.93 per share, for a total transaction of $108,881.50. Following the completion of the acquisition, the director now owns 4,550 shares of the company’s stock, valued at $108,881.50. The disclosure for this purchase can be found here. Corporate insiders own 7.60% of the company’s stock.
Business First Bancshares Profile
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 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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