Business First Bancshares, Inc. (NASDAQ:BFST) director Rick D. Day has recently increased his stake in the company, according to a new filing with the Securities and Exchange Commission. On the last day of April, Day purchased 1,800 shares of common stock at a price of $20.30 per share, totaling an investment of approximately $36,540.
This latest purchase by Day is a clear sign of his confidence in the financial institution, which specializes in state commercial banking. Following the transaction, the director now owns a total of 262,785 shares in Business First Bancshares. It is important to note that this figure includes 1,584 shares of restricted stock set to vest on May 8, 2024, and an additional 1,149 shares of restricted stock that will vest on April 26, 2025.
Investors often look to insider buying as a positive indicator, as it can signal that those with the most intimate knowledge of the company foresee a strong future. With this purchase, Day has demonstrated a commitment to the company's growth and success.
Business First Bancshares is headquartered in Baton Rouge, Louisiana, and continues to serve its community with a range of banking services. The company's stock is publicly traded on the NASDAQ, making it accessible for investors who wish to follow in the footsteps of company insiders like Day.
This recent transaction is part of the public record and can be found in the SEC's Form 4 filings, which document insider trading activities. These filings provide transparency and ensure that investors have access to the same information regarding the trading activities of company executives and directors.
InvestingPro Insights
Director Rick D. Day's recent acquisition of additional shares in Business First Bancshares, Inc. (NASDAQ:BFST) reflects a personal vote of confidence in the company's future prospects. This insider buying event coincides with a period where BFST has demonstrated a commendable track record of raising its dividend for six consecutive years, an indicator of the company's commitment to returning value to shareholders. The dividend yield as of the latest data stands at a notable 2.77%, with a dividend growth over the last twelve months of 16.67%, which may attract income-focused investors.
However, it is important for investors to consider that the stock has experienced a significant price drop over the last week, with a one-week total return of -8.39%. This volatility is a critical factor for potential investors to weigh against the long-term dividend growth. The current market capitalization of Business First Bancshares is $527.55 million, with a P/E ratio of 8.11, suggesting that the stock is trading at a lower multiple of its earnings, which could be appealing to value investors.
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