Bank of New York Mellon Corp Has $3.12 Million Holdings in Business First Bancshares, Inc. (NASDAQ:BFST)

Bank of New York Mellon Corp raised its holdings in shares of Business First Bancshares, Inc. (NASDAQ:BFST) by 32.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 121,344 shares of the company’s stock after purchasing an additional 29,989 shares during the period. Bank of New York Mellon Corp’s holdings in Business First Bancshares were worth $3,119,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Americana Partners LLC acquired a new stake in shares of Business First Bancshares in the 4th quarter valued at approximately $317,000. MGB Wealth Management LLC acquired a new stake in shares of Business First Bancshares in the 4th quarter valued at approximately $841,000. Empowered Funds LLC raised its position in shares of Business First Bancshares by 5.1% in the 4th quarter. Empowered Funds LLC now owns 78,812 shares of the company’s stock valued at $2,025,000 after acquiring an additional 3,809 shares during the period. Robertson Stephens Wealth Management LLC raised its position in shares of Business First Bancshares by 0.8% in the 4th quarter. Robertson Stephens Wealth Management LLC now owns 133,761 shares of the company’s stock valued at $3,438,000 after acquiring an additional 1,099 shares during the period. Finally, E&G Advisors LP acquired a new stake in shares of Business First Bancshares in the 4th quarter valued at approximately $702,000. 47.35% of the stock is currently owned by institutional investors and hedge funds.

Business First Bancshares Price Performance

NASDAQ BFST opened at $24.89 on Thursday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.75. Business First Bancshares, Inc. has a 12-month low of $18.97 and a 12-month high of $30.30. The company has a market capitalization of $735.55 million, a PE ratio of 11.01 and a beta of 1.04. The firm’s 50 day moving average is $26.03 and its 200-day moving average is $26.24.

Business First Bancshares (NASDAQ:BFST) last issued its earnings results on Thursday, January 23rd. The company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.17. Business First Bancshares had a net margin of 14.19% and a return on equity of 11.88%. Equities research analysts anticipate that Business First Bancshares, Inc. will post 2.72 earnings per share for the current fiscal year.

Business First Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Saturday, February 15th were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.56 dividend on an annualized basis and a yield of 2.25%. Business First Bancshares’s payout ratio is 24.78%.

Insider Buying and Selling

In related news, Director Rick D. Day acquired 1,500 shares of Business First Bancshares stock in a transaction on Wednesday, March 5th. The stock was purchased at an average cost of $25.46 per share, with a total value of $38,190.00. Following the completion of the transaction, the director now directly owns 264,285 shares in the company, valued at $6,728,696.10. This trade represents a 0.57 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.45% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on BFST shares. Hovde Group raised Business First Bancshares from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $31.50 to $33.00 in a research note on Friday, January 24th. Raymond James raised Business First Bancshares from a “market perform” rating to an “outperform” rating and set a $30.00 target price for the company in a research note on Thursday, December 19th.

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.