Business First Bancshares, Inc. Announces Quarterly Dividend of $0.14

Business First Bancshares, Inc. (NASDAQ:BFST) has announced a quarterly dividend of $0.14 per share. This announcement was made on Thursday, October 24th. Shareholders who are listed on the official record as of Friday, November 15th will receive this payment on Saturday, November 30th. Annually, this dividend amounts to $0.56, which translates to a yield of 2.16%. The ex-dividend date, which is the cutoff date for being eligible for the dividend, falls on November 15th.

Over the past three years, Business First Bancshares has consistently raised its dividend by an average rate of 7.7% each year. The company's payout ratio stands at 21.5%, indicating that its earnings are more than sufficient to support this dividend payment. Analysts project that Business First Bancshares is expected to generate $2.60 in earnings per share for the upcoming year, which suggests that the company will continue to comfortably cover its $0.56 annual dividend.

Current Stock Performance

On Friday, the shares of Business First Bancshares traded up by 3.7%, reaching a price of $25.97 during midday trading. The trading volume for this day was reported at 75,196 shares, surpassing the average volume of 61,248 shares. The stock has a 50-day moving average price of $24.84 and a 200-day moving average price of $22.73. Business First Bancshares currently holds a market capitalization of $662.29 million and has a price-to-earnings (PE) ratio of 10.22. The company shows stability with a beta of 0.97, while its quick and current ratios are both at 0.98. Over the past year, the stock has experienced a low of $18.43 and a high of $26.93.

Business First Bancshares reported its quarterly earnings results on October 24th, showing earnings of $0.68 per share, which exceeded analyst estimates of $0.57 by $0.11. The company generated revenue totaling $113.52 million, well above the consensus estimate of $65.24 million. The firm had a return on equity of 12.19% and maintained a net profit margin of 15.90%. In comparison to the same period last year, the earnings per share decreased slightly from $0.71. For the current fiscal year, analysts forecast that the earnings per share will be around 2.14.

Insider Trading Activities

In related news, insider Warren McDonald sold 1,532 shares from his stock holdings on August 1st, which had an average selling price of $25.71, totaling approximately $39,387. In the wake of this transaction, McDonald retains 20,595 shares, valued at about $529,497. Additionally, EVP Saundra Strong sold 6,300 shares on July 30th for an average price of $25.32, bringing in about $159,516. After this sale, she now owns 11,275 shares worth roughly $285,483. It is notable that these transactions have resulted in a minuscule change in ownership percentage for both individuals. Over the last quarter, insiders have sold a total of 14,906 shares valued at approximately $377,392, representing that insiders currently own 6.45% of the company's stock.

Analysts' Ratings

On another note, Hovde Group has recently raised their price target for Business First Bancshares from $29.00 to $30.00, while also giving the stock an “outperform” rating in their July 26th report. Currently, one analyst has rated the stock with a hold rating, while four analysts have suggested a buy. MarketBeat reports that the overall consensus rating for Business First Bancshares is a "Moderate Buy" with an average price target of $26.67.

About Business First Bancshares

Business First Bancshares, Inc serves as the bank holding company for b1BANK, offering a range of banking products and services across Louisiana and Texas. The company provides various deposit offerings, which include checking accounts, money market accounts, savings accounts, and certificates of deposit, along with direct deposit services.

Conclusion

Investors and analysts alike will be watching closely as Business First Bancshares continues its path in the financial markets, with rising dividends and promising earnings projections.

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