ClariVest Asset Management LLC Purchases 1,170 Shares of Business First Bancshares, Inc. (NASDAQ:BFST)

ClariVest Asset Management LLC boosted its holdings in shares of Business First Bancshares, Inc. (NASDAQ:BFST) by 2.9% in the 2nd quarter, Holdings Channel reports. The firm owned 41,849 shares of the company’s stock after buying an additional 1,170 shares during the period. ClariVest Asset Management LLC’s holdings in Business First Bancshares were worth $911,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of BFST. The Manufacturers Life Insurance Company lifted its position in shares of Business First Bancshares by 0.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 494,253 shares of the company’s stock worth $12,183,000 after buying an additional 3,358 shares during the last quarter. Ranger Investment Management L.P. boosted its stake in shares of Business First Bancshares by 5.4% in the 4th quarter. Ranger Investment Management L.P. now owns 333,918 shares of the company’s stock valued at $8,231,000 after purchasing an additional 17,095 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Business First Bancshares by 6.1% during the 1st quarter. Russell Investments Group Ltd. now owns 201,149 shares of the company’s stock valued at $4,482,000 after purchasing an additional 11,506 shares during the last quarter. Smith Shellnut Wilson LLC ADV increased its position in Business First Bancshares by 4.3% during the 2nd quarter. Smith Shellnut Wilson LLC ADV now owns 121,136 shares of the company’s stock worth $2,636,000 after purchasing an additional 4,975 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Business First Bancshares by 7.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 109,979 shares of the company’s stock valued at $2,393,000 after purchasing an additional 7,390 shares during the last quarter. Institutional investors and hedge funds own 47.35% of the company’s stock.

Analysts Set New Price Targets

Separately, Hovde Group upped their price target on shares of Business First Bancshares from $29.00 to $30.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $26.67.

Business First Bancshares Stock Performance

NASDAQ:BFST opened at $24.53 on Thursday. The stock’s 50-day moving average is $23.37 and its 200-day moving average is $21.94. The stock has a market cap of $625.56 million, a P/E ratio of 9.66 and a beta of 0.97. Business First Bancshares, Inc. has a 1-year low of $17.88 and a 1-year high of $26.68. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.69.

Business First Bancshares (NASDAQ:BFST) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.13. The firm had revenue of $112.05 million during the quarter, compared to analysts’ expectations of $63.16 million. Business First Bancshares had a net margin of 15.90% and a return on equity of 12.19%. During the same period in the prior year, the company posted $0.70 EPS. Equities research analysts anticipate that Business First Bancshares, Inc. will post 2.13 earnings per share for the current year.

Business First Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, August 31st. Investors of record on Thursday, August 15th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend was Thursday, August 15th. Business First Bancshares’s dividend payout ratio is currently 22.05%.

Insiders Place Their Bets

In other news, EVP Saundra Strong sold 6,300 shares of the stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $25.32, for a total value of $159,516.00. Following the completion of the sale, the executive vice president now owns 11,275 shares of the company’s stock, valued at $285,483. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Joseph Vernon Johnson sold 5,574 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $25.38, for a total value of $141,468.12. Following the transaction, the director now owns 213,357 shares in the company, valued at approximately $5,415,000.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Saundra Strong sold 6,300 shares of the company’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $25.32, for a total transaction of $159,516.00. Following the completion of the sale, the executive vice president now directly owns 11,275 shares in the company, valued at $285,483. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,406 shares of company stock valued at $340,372. 6.45% of the stock is currently owned by company insiders.

Business First Bancshares Company Profile

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.