Business First Bancshares, Inc.
US ˙ NasdaqGS ˙ US12326C1053

Introduction

This page provides a comprehensive analysis of the known insider trading history of Greer Robert S. Jr.. Insiders are officers, directors, or significant investors in a company. It is illegal for insiders to make trades in their companies based on specific, non-public information. This does not mean it is illegal for them to make any trades in their own companies. However, they must report all trades to the SEC via a Form 4. Despite these restrictions, academic research suggests that insiders - in general - tend to outperform the market in their own companies.

Average Trade Profitability

The average trade profitability is the average return of all the open market purchases made by the insider in the last three years. To calculate this, we examine every open-market, unplanned purchase made by the insider, excluding all trades that were marked as part of a 10b5-1 trading plan. We then calculate the average performance of those trades over 3, 6, and 12 months, averaging each of those durations to generate a final performance metric for each trade. Finally, we average all of the performance metrics to calculate a performance metric for the insider. This list only includes insiders that have made at least three trades in the last two years.

If this insiders trade profitability is "N/A", then the insider either has not made any open-market purchases in the last three years, or the trades they’ve made are too recent to calculate a reliable performance metric.

Update Frequency: Daily

See the list of most profitable insider traders.

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Companies with Reported Insider Positions

The SEC filings indicate Greer Robert S. Jr. has reported holdings or trades in the following companies:

Security Title Latest Reported Holdings
US:BFST / Business First Bancshares, Inc. Director 24,265
How to Interpret the Charts

The following charts show the stock performance of securities subsequent to each open-market, non-planned trade made by Greer Robert S. Jr.. Non-planned trade are trades that were not made as part of a 10b5-1 trading plan. The stock performance is charted as cumulative percent change in share price. For example, if an insider trade was made on January 1, 2019, the chart will show the daily percent change of the security to the present day. If the share price were to go from $10 to $15 during this time, the cumulative percent change in share price would be 50%. A change in price from $10 to $20 would be 100%, and a change in price of $10 to $5 would be -50%.

Ultimately, we are trying to determine how closely the insider’s trades correlate to excess returns (positive or negative) in the share price in order to see if the insider is timing their trades to profit from insider information. Consider the situation where an insider was doing this. In this situation, we would expect either (a) positive returns after purchases, or (b) negative returns after sales. In the case of (a), the PURCHASE chart would show a series of upwardly sloping curves, indicating positive returns after each purchase transaction. In the case of (b), the SALE chart would show a series of downward sloping curves, indicating negative returns after each sale transaction.

However, this alone is not enough to draw conclusions. If, for example, the share price of the company was in a non-cyclical climb over many years, then we would expect all the post-purchase plots to be upwardly sloping. Likewise, non-cyclical declines over many years would result in downward sloping post-trade plots. Neither of these charts would suggest insider trading activity.

The strongest indicator would be a situation where the share price was extremely cyclical, and there were both positive signals in the PURCHASE chart and negative plots on the SALE chart. This situation would be highly suggestive of an insider that was timing trades to their financial advantage.

Insider Purchases BFST / Business First Bancshares, Inc. - Short Term Profit Analysis

In this section, we analyze the profitability of every unplanned, open-market insider purchase made in BFST / Business First Bancshares, Inc.. This analysis helps to understand if the insider consistently generates abnormal returns, and is worth following. This analysis is for one-year following each trade, and the results are theoretical.

The following table shows the most recent open market purchases that were not part of an automatic trading plan.

Trade Date Ticker Insider Reported
Shares		 Reported
Price		 Adjusted
Shares		 Adjusted
Price		 Cost Basis Days to
Max		 Price at
Max		 Max
Profit ($)		 Max Return (%)
2020-08-13 BFST GREER ROBERT S. JR. 3,000 14.8800 3,000 14.8800 44,640 235 24.8200 29,820 66.80
2018-06-11 BFST GREER ROBERT S. JR. 1,378 24.9800 1,378 24.9800 34,422
2018-06-11 BFST GREER ROBERT S. JR. 2,122 24.9600 2,122 24.9600 52,965
2018-06-11 BFST GREER ROBERT S. JR. 500 24.9500 500 24.9500 12,475
2018-06-08 BFST GREER ROBERT S. JR. 400 24.5000 400 24.5000 9,800
2018-06-08 BFST GREER ROBERT S. JR. 200 24.6500 200 24.6500 4,930
2018-06-08 BFST GREER ROBERT S. JR. 100 24.8000 100 24.8000 2,480
2018-06-08 BFST GREER ROBERT S. JR. 300 24.6000 300 24.6000 7,380

Adjusted Price is the split-adjusted price. Adjusted Shares is the split-adjusted shares.

BFST / Business First Bancshares, Inc. Insider Trades
Insider Sales BFST / Business First Bancshares, Inc. - Short Term Loss Analysis

In this section, we analyze the short-term loss avoidance of every unplanned, open-market insider sale made in BFST / Business First Bancshares, Inc.. A consistent pattern of loss avoidance may suggest that future sale transactions may predict declines in price. This analysis is for one-year following each trade, and the results are theoretical.

The following table shows the most recent open market sales that were not part of an automatic trading plan.

Trade Date Ticker Insider Reported
Shares		 Reported
Price		 Adjusted
Shares		 Adjusted
Price		 Cost Basis Days to
Min		 Price at
Min		 Max Loss
Avoided ($)		 Max Loss
Avoided (%)
There are no known unplanned open-market trades for this insider and security combination

Adjusted Price is the split-adjusted price. Adjusted Shares is the split-adjusted shares.

BFST / Business First Bancshares, Inc. Insider Trades
Insider Trading History

This table shows the complete list of insider trades made by Greer Robert S. Jr. as disclosed to the Securities Exchange Commission (SEC).

File Date Tran Date Form Ticker Security Code 10b5-1 Shares Remaining Shares Percent
Change		 Share
Price		 Tran
Value		 Remaining
Value
2023-05-09 2023-05-08 4 BFST Business First Bancshares, Inc.
COMMON STOCK 		A - Award 1,584 24,265 6.98 15.78 24,996 382,902
2022-06-27 2022-06-23 4 BFST Business First Bancshares, Inc.
COMMON STOCK 		A - Award 1,182 22,681 5.50 21.15 24,999 479,703
2022-05-02 2022-04-28 4 BFST Business First Bancshares, Inc.
COMMON STOCK 		A - Award 780 21,499 3.76 23.08 18,002 496,197
2021-08-11 2021-05-27 4 BFST Business First Bancshares, Inc.
COMMON STOCK 		A - Award 248 20,719 1.21 24.40 6,051 505,544
2021-03-01 2021-02-25 4 BFST Business First Bancshares, Inc.
Common Stock 		A - Award 331 20,471 1.64 22.64 7,494 463,463
2020-08-13 2020-08-13 4 BFST Business First Bancshares, Inc.
Common Stock 		P - Purchase 3,000 20,140 17.50 14.88 44,640 299,683
2020-04-02 2020-03-26 4 BFST Business First Bancshares, Inc.
Common Stock 		A - Award 300 17,140 1.78 14.87 4,461 254,872
2019-10-03 2019-03-31 4 BFST Business First Bancshares, Inc.
COMMON STOCK 		A - Award 296 16,840 1.79 25.33 7,498 426,557
2018-06-12 2018-06-11 4 BFST Business First Bancshares, Inc.
COMMON STOCK 		P - Purchase 500 16,544 3.12 24.95 12,475 412,773
2018-06-12 2018-06-11 4 BFST Business First Bancshares, Inc.
COMMON STOCK 		P - Purchase 2,122 16,044 15.24 24.96 52,965 400,458
2018-06-12 2018-06-11 4 BFST Business First Bancshares, Inc.
COMMON STOCK 		P - Purchase 1,378 13,922 10.99 24.98 34,422 347,772
2018-06-12 2018-06-08 4 BFST Business First Bancshares, Inc.
COMMON STOCK 		P - Purchase 300 12,544 2.45 24.60 7,380 308,582
2018-06-12 2018-06-08 4 BFST Business First Bancshares, Inc.
COMMON STOCK 		P - Purchase 100 12,244 0.82 24.80 2,480 303,651
2018-06-12 2018-06-08 4 BFST Business First Bancshares, Inc.
COMMON STOCK 		P - Purchase 200 12,144 1.67 24.65 4,930 299,350
2018-06-12 2018-06-08 4 BFST Business First Bancshares, Inc.
COMMON STOCK 		P - Purchase 400 11,944 3.47 24.50 9,800 292,628
2018-04-09 3 BFST Business First Bancshares, Inc.
Common Stock 		23,088
2018-04-09 3 BFST Business First Bancshares, Inc.
Common Stock 		23,088
2018-04-09 3 BFST Business First Bancshares, Inc.
Common Stock 		23,088
P
Open market or private purchase of non-derivative or derivative security
S
Open market or private sale of non-derivative or derivative security
A
Grant, award, or other acquisition of securities from the company (such as an option)
C
Conversion of derivative
D
Sale or transfer of securities back to the company
F
Payment of exercise price or tax liability using portion of securities received from the company
G
Gift of securities by or to the insider
K
Equity swaps and similar hedging transactions
M
Exercise or conversion of derivative security received from the company (such as an option)
V
A transaction voluntarily reported on Form 4
J
Other (accompanied by a footnote describing the transaction)