Zacks: Brokerages Anticipate Business First Bancshares, Inc. (NASDAQ:BFST) Will Post Quarterly Sales of $46.95 Million

Wall Street brokerages forecast that Business First Bancshares, Inc. (NASDAQ:BFSTGet Rating) will announce $46.95 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Business First Bancshares’ earnings, with the highest sales estimate coming in at $47.09 million and the lowest estimate coming in at $46.81 million. Business First Bancshares reported sales of $45.39 million during the same quarter last year, which would suggest a positive year over year growth rate of 3.4%. The business is scheduled to announce its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Business First Bancshares will report full year sales of $208.63 million for the current year, with estimates ranging from $207.52 million to $209.73 million. For the next year, analysts expect that the firm will post sales of $230.56 million, with estimates ranging from $225.35 million to $235.78 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Business First Bancshares.

Business First Bancshares (NASDAQ:BFSTGet Rating) last issued its quarterly earnings data on Tuesday, January 25th. The company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.07. The firm had revenue of $45.32 million during the quarter, compared to analyst estimates of $44.60 million. Business First Bancshares had a return on equity of 12.60% and a net margin of 25.28%.

Separately, Zacks Investment Research downgraded Business First Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, March 29th.

Shares of NASDAQ BFST opened at $23.17 on Friday. Business First Bancshares has a twelve month low of $21.36 and a twelve month high of $29.50. The stock’s 50 day moving average price is $24.73 and its 200-day moving average price is $26.52. The company has a market capitalization of $472.67 million, a PE ratio of 9.19 and a beta of 0.86. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.39.

The company also recently announced a quarterly dividend, which was paid on Monday, February 28th. Investors of record on Tuesday, February 15th were paid a $0.12 dividend. The ex-dividend date of this dividend was Monday, February 14th. This represents a $0.48 dividend on an annualized basis and a yield of 2.07%. Business First Bancshares’s dividend payout ratio is presently 19.05%.

In related news, Director Rick D. Day bought 1,130 shares of the company’s stock in a transaction that occurred on Friday, March 11th. The shares were bought at an average price of $25.08 per share, for a total transaction of $28,340.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven Gerard White sold 3,000 shares of Business First Bancshares stock in a transaction on Friday, February 4th. The stock was sold at an average price of $26.90, for a total transaction of $80,700.00. The disclosure for this sale can be found here. Corporate insiders own 7.60% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Morgan Stanley increased its holdings in Business First Bancshares by 1,305.2% in the 2nd quarter. Morgan Stanley now owns 1,363 shares of the company’s stock valued at $31,000 after acquiring an additional 1,266 shares during the last quarter. Citadel Advisors LLC increased its holdings in Business First Bancshares by 76.8% in the 2nd quarter. Citadel Advisors LLC now owns 29,649 shares of the company’s stock valued at $680,000 after acquiring an additional 12,879 shares during the last quarter. New York State Teachers Retirement System bought a new stake in Business First Bancshares in the 3rd quarter valued at $37,000. SG Americas Securities LLC bought a new stake in Business First Bancshares in the 3rd quarter valued at $284,000. Finally, LSV Asset Management increased its holdings in Business First Bancshares by 69.8% in the 3rd quarter. LSV Asset Management now owns 66,900 shares of the company’s stock valued at $1,564,000 after acquiring an additional 27,500 shares during the last quarter. Institutional investors own 32.10% of the company’s stock.

Business First Bancshares Company Profile (Get Rating)

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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