RMB Capital Management LLC raised its position in shares of Business First Bancshares, Inc. (NASDAQ:BFST) by 12.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,994 shares of the company’s stock after acquiring an additional 4,359 shares during the quarter. RMB Capital Management LLC’s holdings in Business First Bancshares were worth $933,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the company. Nuveen Asset Management LLC grew its position in shares of Business First Bancshares by 1.0% in the fourth quarter. Nuveen Asset Management LLC now owns 76,657 shares of the company’s stock valued at $1,560,000 after purchasing an additional 783 shares in the last quarter. Nisa Investment Advisors LLC purchased a new stake in shares of Business First Bancshares in the fourth quarter valued at approximately $31,000. Citigroup Inc. grew its position in shares of Business First Bancshares by 287.3% in the fourth quarter. Citigroup Inc. now owns 3,586 shares of the company’s stock valued at $73,000 after purchasing an additional 2,660 shares in the last quarter. Mendon Capital Advisors Corp grew its position in shares of Business First Bancshares by 3.9% in the first quarter. Mendon Capital Advisors Corp now owns 120,376 shares of the company’s stock valued at $2,880,000 after purchasing an additional 4,485 shares in the last quarter. Finally, BNP Paribas Arbitrage SA grew its position in shares of Business First Bancshares by 102.5% in the first quarter. BNP Paribas Arbitrage SA now owns 9,003 shares of the company’s stock valued at $215,000 after purchasing an additional 4,557 shares in the last quarter. Institutional investors and hedge funds own 29.25% of the company’s stock.
In other Business First Bancshares news, Director John P. Ducrest purchased 4,550 shares of the business’s stock in a transaction on Wednesday, April 28th. The shares were bought at an average cost of $23.93 per share, for a total transaction of $108,881.50. Following the completion of the purchase, the director now directly owns 4,550 shares in the company, valued at $108,881.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven Gerard White sold 3,000 shares of the firm’s stock in a transaction on Friday, April 30th. The shares were sold at an average price of $23.94, for a total value of $71,820.00. 7.60% of the stock is currently owned by company insiders.
Business First Bancshares (NASDAQ:BFST) last announced its quarterly earnings data on Wednesday, April 21st. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.03. The business had revenue of $45.39 million for the quarter, compared to analysts’ expectations of $44.27 million. Business First Bancshares had a return on equity of 11.20% and a net margin of 19.72%. As a group, sell-side analysts expect that Business First Bancshares, Inc. will post 2.13 earnings per share for the current fiscal year.
The business also recently disclosed 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 annualized dividend and a dividend yield of 2.08%. The ex-dividend date was Thursday, May 13th. Business First Bancshares’s dividend payout ratio (DPR) is presently 23.41%.
Several research analysts recently weighed in on BFST shares. Zacks Investment Research upgraded Business First Bancshares from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Thursday, May 27th. TheStreet upgraded Business First Bancshares from a “c+” rating to a “b” rating in a research note on Monday, April 12th. Finally, DA Davidson upgraded 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.
About Business First Bancshares
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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