BUSINESS FIRST BANCSHARES IN

Ticker: BFST CUSIP: 12326C105 Class: Common Stock

Ranger Investment Management, L.P.'s Holding History (CIK: 0001319691)

Note: Option positions (PUT/CALL) are excluded.

Q4 2025

Shares 322,375 Value ($000) $8,427 Avg Close $25.09 Range $22.31 - $28.31

Q3 2025

Shares 345,855 Value ($000) $8,166 Avg Close $24.40 Range $22.24 - $26.18

Q2 2025

Shares 343,700 Value ($000) $8,472 Avg Close $23.05 Range $19.62 - $24.60

Q1 2025

Shares 319,985 Value ($000) $7,792 Avg Close $25.14 Range $22.32 - $27.53

Q4 2024

Shares 320,745 Value ($000) $8,243 Avg Close $26.06 Range $23.04 - $29.33

Q3 2024

Shares 374,958 Value ($000) $9,625 Avg Close $22.93 Range $19.74 - $25.99

Q2 2024

Shares 367,128 Value ($000) $7,989 Avg Close $19.99 Range $18.24 - $21.36

Q1 2024

Shares 346,498 Value ($000) $7,720 Avg Close $21.32 Range $19.55 - $23.70

Q4 2023

Shares 333,918 Value ($000) $8,231 Avg Close $19.65 Range $16.87 - $24.27

Q3 2023

Shares 316,823 Value ($000) $5,944 Avg Close $17.55 Range $13.48 - $21.08

Q2 2023

Shares 335,023 Value ($000) $5,049 Avg Close $14.39 Range $12.12 - $16.08

Q1 2023

Shares 306,110 Value ($000) $5,244 Avg Close $18.43 Range $15.28 - $20.61

Q4 2022

Shares 253,640 Value ($000) $5,616 Avg Close $21.14 Range $19.31 - $22.98

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	322,375	$8,427	$25.09	$22.31 - $28.31
Q3 2025	345,855	$8,166	$24.40	$22.24 - $26.18
Q2 2025	343,700	$8,472	$23.05	$19.62 - $24.60
Q1 2025	319,985	$7,792	$25.14	$22.32 - $27.53
Q4 2024	320,745	$8,243	$26.06	$23.04 - $29.33
Q3 2024	374,958	$9,625	$22.93	$19.74 - $25.99
Q2 2024	367,128	$7,989	$19.99	$18.24 - $21.36
Q1 2024	346,498	$7,720	$21.32	$19.55 - $23.70
Q4 2023	333,918	$8,231	$19.65	$16.87 - $24.27
Q3 2023	316,823	$5,944	$17.55	$13.48 - $21.08
Q2 2023	335,023	$5,049	$14.39	$12.12 - $16.08
Q1 2023	306,110	$5,244	$18.43	$15.28 - $20.61
Q4 2022	253,640	$5,616	$21.14	$19.31 - $22.98