Dynamic Technology Lab Private Ltd Invests $346,000 in Business First Bancshares, Inc. $BFST

by · The Cerbat Gem

Dynamic Technology Lab Private Ltd acquired a new stake in Business First Bancshares, Inc. (NASDAQ:BFST – Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 14,056 shares of the company’s stock, valued at approximately $346,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its position in Business First Bancshares by 50.7% during the first quarter. Victory Capital Management Inc. now owns 41,000 shares of the company’s stock worth $998,000 after buying an additional 13,785 shares during the period. Mackenzie Financial Corp boosted its stake in shares of Business First Bancshares by 20.6% during the 1st quarter. Mackenzie Financial Corp now owns 23,286 shares of the company’s stock worth $567,000 after acquiring an additional 3,981 shares in the last quarter. Swiss National Bank grew its holdings in shares of Business First Bancshares by 14.5% in the 1st quarter. Swiss National Bank now owns 54,408 shares of the company’s stock worth $1,325,000 after acquiring an additional 6,900 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in Business First Bancshares by 26.6% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 55,890 shares of the company’s stock valued at $1,361,000 after purchasing an additional 11,727 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Business First Bancshares by 4.8% in the 1st quarter. Invesco Ltd. now owns 45,392 shares of the company’s stock valued at $1,105,000 after purchasing an additional 2,064 shares in the last quarter. Hedge funds and other institutional investors own 47.35% of the company’s stock.

Insiders Place Their Bets

In other Business First Bancshares news, Director Rick D. Day purchased 1,600 shares of Business First Bancshares stock in a transaction on Tuesday, October 28th. The shares were bought at an average price of $24.21 per share, with a total value of $38,736.00. Following the purchase, the director directly owned 265,885 shares in the company, valued at $6,437,075.85. This trade represents a 0.61% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 5.68% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on BFST shares. DA Davidson assumed coverage on Business First Bancshares in a research report on Tuesday. They set a “buy” rating and a $32.00 target price on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Business First Bancshares in a research note on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $30.75.

Read Our Latest Report on BFST

Business First Bancshares Stock Up 3.4%

Shares of NASDAQ:BFST opened at $26.47 on Wednesday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $783.91 million, a P/E ratio of 10.22 and a beta of 0.91. Business First Bancshares, Inc. has a 52-week low of $20.07 and a 52-week high of $29.27. The stock’s fifty day simple moving average is $24.22 and its 200-day simple moving average is $24.42.

Business First Bancshares (NASDAQ:BFST – Get Free Report) last announced its earnings results on Thursday, October 23rd. The company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.03. The firm had revenue of $80.95 million during the quarter, compared to the consensus estimate of $80.50 million. Business First Bancshares had a net margin of 15.94% and a return on equity of 11.27%. As a group, equities research analysts forecast that Business First Bancshares, Inc. will post 2.72 earnings per share for the current fiscal year.

Business First Bancshares declared that its board has approved a stock buyback plan on Tuesday, October 28th that allows the company to repurchase $30.00 million in shares. This repurchase authorization allows the company to purchase up to 4.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

Business First Bancshares Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, November 30th. Shareholders of record on Saturday, November 15th will be issued a $0.15 dividend. This is a boost from Business First Bancshares’s previous quarterly dividend of $0.14. The ex-dividend date is Friday, November 14th. This represents a $0.60 annualized dividend and a yield of 2.3%. Business First Bancshares’s payout ratio is presently 23.17%.

Business First Bancshares Profile

(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.

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