BFST
Business First Bancshares, Inc.
Next earnings Jul 27, 2026 · consensus $0.70 EPS, $93.1M rev
Last earnings -4.4% on 2026-04-27
$30.81
▲ +2.39%$30.81▲ +32.12%
over 1Y
L $22.35EODHDH $30.81
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today+2.4%
1W+6.2%
1M+9.5%
3M+16.5%
YTD+20.3%
1Y+32.1%
Hold
Conviction
Horizon
Medium (3–12mo)
12-mo target
$•••
Street · 11 analysts
Buy
Reasonably valued LA/TX community bank — solid EPS growth and book build, but middling ROE and CRE/energy concentration cap the upside.
Diluted EPS $2.79 · FY2025
The read
Middling fundamentals offset by an attractive price (~239% below fair value) — worth a look on the value angle.
BFST trades at ~10.9x FY2025 diluted EPS of $2.79 and roughly 1.1x book ($897M equity / 32.7M shares ≈ $27.4 BVPS vs. $30.33 price) — an unremarkable but defensible multiple for a $8.2B-asset community bank. Earnings power is real: net income jumped 34.9% YoY to $87.9M and operating cash flow rose 50% to $92.1M, helped by the Oakwood deal closing Oct-2024 (3.97M shares issued, $863.6M assets absorbed). Retained earnings compounded 25.1% to $327M, and the equity base grew 12.2% — quality consistent with a bank that is building, not eroding, capital. Note the headline P/S of 92.7x and 'net margin' of 820% are artifacts: the $10.7M 'revenue' figure is ASC 606 fee revenue only and excludes net interest income, which is the bulk of a bank's top line — ignore those ratios.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $6.81M | $8.27M | $9.70M | $10.6M | $10.7M |
| Gross profit | — | — | — | — | — |
| Operating income | — | — | — | — | — |
| Net income | $52.1M | $54.3M | $71.0M | $65.1M | $87.9M |
| Diluted EPS | $2.53 | $2.32 | $2.59 | $2.26 | $2.79 |
| Net margin | 765.2% | 655.9% | 732.1% | 615.6% | 820.8% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value—
EV / EBITDA—
EV / Sales—
EV / FCF—
P / FCF11.0
PEG (trailing)0.32
Earnings yield8.7%
FCF yield9.1%
Quality & risk
ROIC (est.)—
Free cash flow$92.0M
Total debt$3.56M
Net cash$408M
Piotroski F-Score5/7
Capital returns
Buyback yield0.4%
Dividend yield (est.)1.7%
Shareholder yield2.0%
Shares Δ YoY+10.7%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsRecent disclosure tone has been improving.
- 8-K Shareholder vote2026-05-27
Annual meeting vote results disclosed; routine governance outcome
- 10-Q Quarterly report2026-05-01
Q1 2026 10-Q: first quarter reflecting expanded Progressive franchise
- 8-K Earnings results2026-04-27
Q1 2026 earnings released with first contribution from Progressive Bank deal
- DEF 14A Proxy statement2026-04-08
2026 proxy statement: routine board/comp/auditor matters for AGM
- 8-K Material agreement2026-04-02
Entered material agreement and incurred new financial obligation (debt/financing)
- 10-K Annual report2026-02-26
FY25 10-K: assets $8.2B, equity +12%, EPS $2.79, ROE ~10%
- 8-K Officer / director change2026-02-24
Officer/director change disclosed (Item 5.02 leadership update)
- 8-K/A Amended 8-K2026-01-23
Amendment supplying Progressive acquisition financials/pro formas
- 8-K Earnings results2026-01-22
Q4 2025 earnings: FY net income +35% to $87.9M, EPS $2.79
Recent filings
all on EDGAR ↗144/AFiling2026-06-25open ↗11-KPeriod ending 2025-12-312026-06-23open ↗4Period ending 2026-06-102026-06-12open ↗4Period ending 2026-06-082026-06-09open ↗144Filing2026-06-09open ↗144Filing2026-06-08open ↗4Period ending 2026-05-272026-05-28open ↗144Filing2026-05-27open ↗4Period ending 2026-05-222026-05-27open ↗8-KPeriod ending 2026-05-212026-05-27open ↗144Filing2026-05-22open ↗10-QPeriod ending 2026-03-312026-05-01open ↗
Frequently asked
- Is Business First Bancshares, Inc. (BFST) a buy?
- BFST currently carries a Hold rating with 3/5 conviction, derived from its latest SEC filings. Reasonably valued LA/TX community bank — solid EPS growth and book build, but middling ROE and CRE/energy concentration cap the upside.
- What is BFST's fair value?
- A Modified-Graham model based on BFST's SEC fundamentals estimates a fair value of about $104.33. It is an estimate from reported earnings, not a price target.
- Is BFST overvalued or undervalued?
- Against a Modified-Graham fair-value estimate, BFST currently appears undervalued relative to its SEC-grounded earnings power.
- What is Business First Bancshares, Inc.'s quality score?
- BFST scores 72.23529411764706/100 (grade B) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0001624322, latest 10-Q filed 2026-05-01) · EODHD · analysis by claude-code · as of 6/25/2026, 2:27:17 PM.
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