Business First Bancshares (BFST) AI Stock Analysis

• Market Cap: $685.80M
• Dividend Yield: 2.44%
• Average Volume (3M): 113.91K
• Price to Earnings (P/E): 9.2
• Beta (1Y): 1.01
• Revenue Growth: 16.87%
• EPS Growth: 3.07%
• Country: US
• Employees: 849
• Sector: Financial
• Sector Strength: 64
• Industry: Banks - Regional
• EPS (TTM): 0.66
• Shares Outstanding: 29,714,157
• 10 Day Avg. Volume: 102,391
• 30 Day Avg. Volume: 113,910
• PEG Ratio: N/A
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: 1.38
• Enterprise Value/Revenue: 1.98
• Enterprise Value/Gross Profit: 3.44
• Enterprise Value/Ebitda: 9.74
• 1Y Price Target: $30.00
• Price Target Upside: 29.42% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2

• Rating: 73 Outperform
• Price Target: $27.00 ▲(16.48% Upside)

Business First Bancshares is well-positioned financially with strong growth metrics and a strategic acquisition that boosts its market position. Despite these strengths, technical indicators show potential near-term risks, and the earnings call reflects mixed sentiment with both achievements and challenges. The stock's valuation remains attractive, offering a balanced investment opportunity.

Business First Bancshares Business Overview & Revenue Model

Company Description

Business First Bancshares, Inc. (BFST) is a financial holding company headquartered in Baton Rouge, Louisiana. It operates through its wholly-owned subsidiary, b1BANK, which provides a range of financial services primarily to small- and medium-sized businesses, professionals, and individuals across Louisiana and Texas. The bank offers various products and services, including commercial and personal banking services, treasury management, lending solutions, and other financial services to meet the diverse needs of its clients.

How the Company Makes Money

Business First Bancshares, Inc. primarily generates revenue through its subsidiary b1BANK by offering a variety of banking and financial services. The company's key revenue streams include interest income from loans and leases extended to its customers, interest earned on investment securities, and fee-based income generated from service charges, treasury management, and other financial services. Additionally, BFST benefits from its strategic partnerships and a strong regional presence that helps attract and retain a diverse customer base, contributing to its overall earnings.

Business First Bancshares Financial Statement Overview

Summary

Business First Bancshares demonstrates strong revenue and profit growth with a robust income statement. The balance sheet shows a prudent leveraging approach, and cash flow generation has significantly improved. However, moderate reliance on equity financing should be monitored.

Income Statement

Business First Bancshares has shown a robust revenue growth trajectory, with a Revenue Growth Rate of approximately 11.2% from 2024 to TTM (Trailing-Twelve-Months). The Gross Profit Margin stands at an impressive 57.5%, highlighting strong cost management and operational efficiency. Net Profit Margin improved to 15.1%, reflecting enhanced profitability. EBIT and EBITDA margins are also healthy at 19.2% and 20.3%, respectively, indicating effective core earnings strength.

Balance Sheet

The company's Debt-to-Equity Ratio of 0.53 suggests a balanced approach to leveraging, which is prudent in the banking industry. Return on Equity (ROE) is strong at 8.7%, showcasing solid profitability relative to shareholder equity. The Equity Ratio of 10.6% indicates moderate reliance on equity financing, which is typical for banks but can present risks in volatile markets.

Cash Flow

Business First Bancshares achieved a Free Cash Flow Growth Rate of 33.9% from 2024 to TTM, underscoring a significant improvement in cash generation capabilities. The Operating Cash Flow to Net Income Ratio of 1.14 highlights a good conversion of accounting profits into cash, while the Free Cash Flow to Net Income Ratio of 1.11 indicates strong cash flow generation relative to net income.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	457.75M	385.62M	264.08M	203.11M	168.78M
Gross Profit	259.50M	242.94M	216.65M	178.51M	135.24M
EBITDA	88.31M	95.26M	73.41M	68.72M	39.95M
Net Income	65.11M	71.04M	54.26M	52.14M	29.99M
Balance Sheet
Total Assets	7.86B	6.58B	5.99B	4.73B	4.16B
Cash, Cash Equivalents and Short-Term Investments	347.76M	1.11B	1.04B	1.09B	789.74M
Total Debt	483.26M	635.07M	560.12M	187.59M	105.99M
Total Liabilities	7.06B	5.94B	5.41B	4.29B	3.75B
Stockholders Equity	799.47M	644.26M	580.48M	433.37M	409.96M
Cash Flow
Free Cash Flow	59.84M	80.78M	61.80M	52.47M	26.37M
Operating Cash Flow	61.40M	92.43M	69.58M	56.44M	29.34M
Investing Cash Flow	-294.91M	-521.14M	-700.52M	-675.35M	-475.30M
Financing Cash Flow	326.50M	502.08M	715.31M	538.15M	505.72M

Business First Bancshares Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 23.18
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BFST, the sentiment is Negative. The current price of 23.18 is below the 20-day moving average (MA) of 25.22, below the 50-day MA of 24.58, and below the 200-day MA of 25.26, indicating a bearish trend. The MACD of -0.44 indicates Positive momentum. The RSI at 31.83 is Neutral, neither overbought nor oversold. The STOCH value of 7.68 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BFST.

Business First Bancshares Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ESQ	79 Outperform	$800.71M	17.49	19.30%	0.70%	16.18%	13.78%
MBWM	76 Outperform	$721.49M	8.83	13.77%	3.29%	8.72%	-0.45%
BFST	73 Outperform	$685.80M	9.23	10.18%	2.44%	16.87%	3.07%
MCBS	71 Outperform	$699.30M	10.70	15.67%	3.49%	4.94%	20.77%
CPF	71 Outperform	$719.72M	11.94	11.16%	4.05%	2.82%	6.88%
HAFC	69 Neutral	$680.07M	10.41	8.84%	4.73%	3.43%	-1.75%
Sector *	67 Neutral	$17.00B	11.67	9.71%	3.95%	10.68%	1.24%

Business First Bancshares Corporate Events

Business First Announces Q2 2025 Financial Results

On July 28, 2025, Business First Bancshares, Inc. announced its financial results for the second quarter of 2025, reporting a net income of $20.8 million, an increase from the previous quarter. The company highlighted significant operational activities including a successful core conversion and branch optimization, positioning it for future growth. Additionally, Business First declared dividends for both preferred and common shareholders, and announced an agreement to acquire Progressive Bancorp, Inc., which is expected to enhance its market presence.

The most recent analyst rating on (BFST) stock is a Buy with a $30.00 price target. To see the full list of analyst forecasts on Business First Bancshares stock, see the BFST Stock Forecast page.

Business First Bancshares Announces Acquisition of Progressive Bancorp

On July 7, 2025, Business First Bancshares, Inc. announced a definitive agreement to acquire Progressive Bancorp, Inc., with the merger expected to close in early 2026. This acquisition will increase Business First’s total assets to approximately $8.5 billion and strengthen its market position in North Louisiana. The merger, unanimously approved by both companies’ boards, is anticipated to enhance Business First’s deposit and liquidity profiles, while maintaining the leading deposit market share among Louisiana-based banks. The transaction is subject to regulatory and shareholder approvals, with Progressive shareholders set to own approximately 9.3% of the combined company post-merger.

The most recent analyst rating on (BFST) stock is a Buy with a $30.00 price target. To see the full list of analyst forecasts on Business First Bancshares stock, see the BFST Stock Forecast page.