Business First Bancshares, Inc. (BFST) 10-Year Financial Performance & Capital Metrics

BFST • • Banking & Credit

Financial ServicesRegional BanksCommercial & Business BankingCommercial & Corporate Banking

AboutBusiness First Bancshares, Inc. operates as the bank holding company for b1BANK that provides various banking products and services. It offers various deposit products and services, including checking, demand, money market, time, and savings accounts; and certificates of deposits, remote deposit capture, and direct deposit services. The company also provides commercial and industrial loans, such as commercial lines of credit, letters of credit, working capital, term, equipment financing, asset acquisition, expansion and development, borrowing base, and other loan products; construction and development loans; commercial real estate loans; residential real estate loans comprising first and second lien 1-4 family mortgage loans, and home equity lines of credit; and consumer loans, including secured and unsecured installment and term loans. In addition, it offers wealth management products, including mutual funds, annuities, individual retirement accounts, and other financial products, as well as other fiduciary services and private banking products and services. Further, the company provides a range of other financial services comprising debit and credit cards, treasury and cash management, merchant, automated clearing house, lock-box, receivables factoring, correspondent banking, and other treasury services, as well as employee and payroll benefits solutions; and drive-through banking facilities, automated teller machines, night depository, personalized checks, electronic funds transfer, domestic and foreign wire transfer, traveler's checks, vault, loan and deposit sweep accounts, online and mobile banking, e-statements, and bank-by-mail services. As of March 01, 2022, it operates approximately 48 full-service banking centers and three loan production offices across Louisiana, and in the Dallas and Houston markets. Business First Bancshares, Inc. was incorporated in 2006 and is headquartered in Baton Rouge, Louisiana.Show more

Net Interest Income $227M +5.7%
Total Revenue $458M +18.7%
Net Income $65M -8.4%
Return on Equity 9.02% -22.3%
Net Interest Margin 2.89% -11.4%
Efficiency Ratio 38.55% -2.4%
ROA 0.9% -20.2%
Equity / Assets 10.18% +4.0%
Book Value per Share 30.22 +18.7%
Tangible BV/Share 24.98 +16.1%
Debt/Equity 0.60 -38.7%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y profit CAGR of 22.3%
✓Efficient operations: 38.5% efficiency ratio
✓Well capitalized: 10.2% equity/assets
✓Healthy dividend yield of 2.1%
✓Trading near 52-week high
✓Trading at only 0.9x book value

✗Weaknesses

✗Weak Piotroski F-Score: 3/9

Price & Volume

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Growth Metrics

Revenue CAGR

10Y33.98%

5Y32.37%

3Y31.11%

TTM-

Profit (Net Income) CAGR

10Y32.07%

5Y22.32%

3Y7.69%

TTM27.23%

EPS CAGR

10Y12.12%

5Y5.37%

3Y-3.69%

TTM-78.02%

ROCE

10Y Avg6.01%

5Y Avg8.14%

3Y Avg7.19%

Latest6.35%

Peer Comparison

Commercial & Corporate Banking

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
TCBITexas Capital Bancshares, Inc.	4.49B	98.37	76.85	-1.72%	4.4%	7.92%	9.27%	0.46
BANCBanc of California, Inc.	3.15B	20.87	40.13	24.65%	6.78%	6.01%	2.04%	0.67
DBDeutsche Bank AG	74.26B	38.87	28.37	11.78%	5.07%	7.18%		1.91
HTHHilltop Holdings Inc.	2.2B	35.83	20.59	2.5%	7.35%	7.2%	12.14%	0.61
SFBSServisFirst Bancshares, Inc.	4.28B	78.31	18.82	17.89%	23.26%	14.33%	5.8%	1.27
CMAComerica Incorporated	11.69B	91.51	18.23	-4.95%	13.98%	10.57%	3.83%	1.02
BOKFBOK Financial Corporation	8.08B	127.69	15.69	10.4%	15.57%	8.91%	15.59%	0.80
CNOBConnectOne Bancorp, Inc.	1.37B	27.26	15.49	6.06%	13.8%	3.98%	4.15%	0.63

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	34.15M	37.59M	44.37M	62.23M	80.2M	127.65M	153.88M	199.58M	215.13M	227.38M
NII Growth %	-	0.1%	0.18%	0.4%	0.29%	0.59%	0.21%	0.3%	0.08%	0.06%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	38.62M	43.42M	51.6M	76.19M	103.47M	149.75M	170.44M	236.11M	353.33M	414.76M
Interest Expense	4.47M	5.83M	7.23M	13.97M	23.27M	22.11M	16.55M	36.54M	138.2M	187.38M
Loan Loss Provision	1.2M	1.22M	4.24M	2.39M	2.61M	11.44M	8.05M	10.89M	4.48M	10.87M
Non-Interest Income+	3.18M	5.42M	5.62M	7.78M	9.15M	19.03M	32.67M	27.96M	32.29M	42.98M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	41.8M	48.84M	57.22M	83.97M	112.62M	168.78M	203.11M	264.08M	385.62M	457.75M
Revenue Growth %	0.7%	0.17%	0.17%	0.47%	0.34%	0.5%	0.2%	0.3%	0.46%	0.19%
Non-Interest Expense	30.51M	35.07M	36.8M	50.25M	56.9M	98.45M	113.95M	148.06M	152.35M	176.44M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	5.62M	6.72M	8.95M	17.37M	29.85M	36.78M	64.56M	68.59M	90.59M	83.09M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.04%	0.2%	0.33%	0.94%	0.72%	0.23%	0.76%	0.06%	0.32%	-0.08%
Pretax Income+	5.62M	6.72M	8.95M	17.37M	29.85M	36.78M	64.56M	68.59M	90.59M	83.05M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	1.52M	1.61M	4.1M	3.28M	6.08M	6.79M	12.42M	14.34M	19.54M	17.94M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	4.1M	5.11M	4.85M	14.09M	23.77M	29.99M	52.14M	54.26M	71.04M	65.11M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.02%	0.25%	-0.05%	1.91%	0.69%	0.26%	0.74%	0.04%	0.31%	-0.08%
Net Income (Continuing)	4.1M	5.11M	4.85M	14.09M	23.77M	29.99M	52.14M	54.26M	71.04M	65.11M
EPS (Diluted)+	0.58	0.74	0.70	1.22	1.74	1.64	2.53	2.32	2.59	2.26
EPS Growth %	-0.19%	0.28%	-0.05%	0.74%	0.43%	-0.06%	0.54%	-0.08%	0.12%	-0.13%
EPS (Basic)	0.58	0.74	0.70	1.27	1.79	1.65	2.54	2.34	2.62	2.27
Diluted Shares Outstanding	7.04M	6.92M	11.53M	11.55M	13.67M	18.24M	20.63M	22.82M	25.3M	26.45M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	43.41M	42.17M	107.59M	96.07M	89.37M	149.13M	68.38M	152.74M	226.11M	319.1M
Short Term Investments	0	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Investments+	216M	1.01B	1.15B	1.84B	1.99B	3.62B	4.2B	5.5B	5.87B	6.86B
Investments Growth %	-	3.66%	0.15%	0.59%	0.08%	0.82%	0.16%	0.31%	0.07%	0.17%
Long-Term Investments	216M	809.09M	975.35M	1.53B	1.71B	2.98B	3.18B	4.61B	4.99B	6.83B
Accounts Receivables	0	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	3.38M	6.82M	6.82M	49.49M	48.49M	53.86M	59.89M	88.54M	88.39M	121.57M
Intangible Assets	2.56M	2.28M	2M	7.88M	6.69M	9.73M	12.2M	14.04M	11.89M	17.25M
PP&E (Net)	9.23M	9.28M	8.78M	15.11M	29.28M	58.59M	58.16M	63.18M	69.48M	81.95M
Other Assets	1.02B	34.47M	34.45M	78.16M	100.67M	235.69M	299.96M	118.58M	264.72M	389.83M
Total Current Assets	43.41M	243.9M	290.85M	413.81M	375.59M	813.63M	1.11B	1.07B	1.14B	383.63M
Total Non-Current Assets	1.03B	861.94M	1.03B	1.68B	1.9B	3.35B	3.62B	4.92B	5.45B	7.47B
Total Assets+	1.08B	1.11B	1.32B	2.09B	2.27B	4.16B	4.73B	5.99B	6.58B	7.86B
Asset Growth %	0.57%	0.03%	0.19%	0.59%	0.09%	0.83%	0.14%	0.27%	0.1%	0.19%
Return on Assets (ROA)	0%	0%	0%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Accounts Payable	566K	920K	890K	1.37M	1.53M	2.5M	1.35M	2.09M	14.84M	5.97M
Total Debt+	47.06M	53.65M	80.5M	92.23M	185.99M	105.99M	187.59M	560.12M	635.07M	483.26M
Net Debt	3.66M	11.47M	-27.09M	-3.84M	96.62M	-43.14M	119.22M	407.38M	408.96M	164.16M
Long-Term Debt	47.06M	50.06M	77.7M	80M	118M	79.14M	168.45M	525.85M	616.19M	460.63M
Short-Term Debt	0	3.58M	2.8M	12.23M	67.99M	26.84M	19.14M	34.27M	18.89M	22.62M
Other Liabilities	916.58M	4.92M	4.4M	7.3M	19.21M	25.23M	26.78M	27.42M	41.59M	57.07M
Total Current Liabilities	566K	937.3M	1.06B	1.75B	1.85B	3.65B	4.1B	4.86B	5.28B	6.54B
Total Non-Current Liabilities	963.07M	54.98M	82.1M	87.3M	137.21M	104.37M	195.23M	553.27M	657.77M	517.7M
Total Liabilities	963.64M	992.28M	1.14B	1.83B	1.99B	3.75B	4.29B	5.41B	5.94B	7.06B
Total Equity+	112.45M	113.56M	179.94M	260.06M	285.1M	409.96M	433.37M	580.48M	644.26M	799.47M
Equity Growth %	0.43%	0.01%	0.58%	0.45%	0.1%	0.44%	0.06%	0.34%	0.11%	0.24%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.04%	0.05%	0.03%	0.06%	0.09%	0.09%	0.12%	0.11%	0.12%	0.09%
Book Value per Share	15.98	16.42	15.60	22.52	20.85	22.47	21.00	25.44	25.47	30.22
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	7.04M	6.92M	10.23M	13.21M	13.28M	20.62M	20.4M	25.11M	25.35M	29.55M
Additional Paid-in Capital	85.91M	85.13M	144.17M	212.33M	212.5M	299.54M	292.27M	393.69M	397.45M	500.02M
Retained Earnings	20.29M	23.84M	27.18M	37.98M	56.7M	79.17M	121.87M	163.96M	216.12M	260.96M
Accumulated OCI	-789K	-2.33M	-1.64M	-3.47M	2.61M	10.63M	-1.18M	-74.2M	-66.58M	-63M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Preferred Stock	0	0	0	0	0	0	0	71.93M	71.93M	71.93M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	3.4M	8.15M	7.97M	19.28M	24.42M	29.34M	56.44M	69.58M	92.43M	61.4M
Operating CF Growth %	-0.51%	1.4%	-0.02%	1.42%	0.27%	0.2%	0.92%	0.23%	0.33%	-0.34%
Net Income	4.1M	5.11M	4.85M	14.09M	23.77M	29.99M	52.14M	54.26M	71.04M	65.11M
Depreciation & Amortization	1.19M	1.3M	1.18M	1.17M	1.59M	3.16M	4.16M	4.82M	4.67M	5.26M
Deferred Taxes	-74K	953K	3.13M	-402K	336K	-58K	586K	-1.37M	-2.05M	-962K
Other Non-Cash Items	-154K	229K	827K	2.67M	-863K	5.53M	-4.49M	5.2M	-3.49M	2.96M
Working Capital Changes	-1.71M	102K	-1.96M	732K	-1.51M	-11.74M	1.19M	2.98M	18.26M	-13.96M
Cash from Investing+	-14.12M	-33.34M	-153.44M	-170.32M	-192.29M	-475.3M	-675.35M	-700.52M	-521.14M	-294.91M
Purchase of Investments	-62.02M	-46.8M	-11.03M	-17.28M	-30.25M	-234.25M	-532.5M	-125.48M	-146.61M	-109.18M
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	87.38M	0	0	-9.15M	-17.45M	106M	-20.98M	163.46M	-14.51M	96.82M
Other Investing	-69.33M	-39.65M	-169.6M	-191.23M	-206.72M	-493.32M	-246.83M	-875.02M	-515.63M	-391.29M
Cash from Financing+	25.62M	26.45M	210.89M	139.52M	161.17M	505.72M	538.15M	715.31M	502.08M	326.5M
Dividends Paid	0	-1.06M	-1.79M	-3.28M	-5.05M	-7.52M	-9.44M	-12.17M	-18.06M	-20.26M
Share Repurchases	-2.81M	-863K	-33K	0	-2.55M	-5.8M	-10.92M	0	0	-31K
Stock Issued	0	0	62.45M	27.65M	823K	3.36M	3.56M	48.49M	0	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	-1000K	-487K	1000K	-1000K	1000K	-1000K	1000K	1000K	1000K	-1000K
Other Financing	31.93M	28.86M	121.96M	118.71M	129.96M	605.3M	474.43M	279.87M	427.94M	524.31M
Net Change in Cash+	14.9M	1.26M	65.42M	-11.52M	-6.7M	59.76M	-80.76M	84.36M	73.37M	92.99M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	26.02M	40.91M	42.17M	107.59M	96.07M	89.37M	149.13M	68.38M	152.74M	226.11M
Cash at End	40.91M	42.17M	107.59M	96.07M	89.37M	149.13M	68.38M	152.74M	226.11M	319.1M
Interest Paid	4.28M	5.47M	7.26M	13.48M	23.11M	21.14M	17.7M	35.8M	125.45M	196.25M
Income Taxes Paid	2.51M	1.02M	1.8M	3.34M	5.6M	5.47M	15.71M	13.55M	16.09M	17.35M
Free Cash Flow+	2.44M	6.76M	7.46M	18.36M	20.46M	26.37M	52.47M	61.8M	80.78M	59.84M
FCF Growth %	-0.64%	1.78%	0.1%	1.46%	0.11%	0.29%	0.99%	0.18%	0.31%	-0.26%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	4.28%	4.52%	3.3%	6.41%	8.72%	8.63%	12.36%	10.7%	11.6%	9.02%
Return on Assets (ROA)	0.47%	0.47%	0.4%	0.83%	1.09%	0.93%	1.17%	1.01%	1.13%	0.9%
Net Interest Margin	3.17%	3.4%	3.36%	2.97%	3.53%	3.07%	3.26%	3.33%	3.27%	2.89%
Efficiency Ratio	72.99%	71.81%	64.32%	59.84%	50.52%	58.33%	56.1%	56.07%	39.51%	38.55%
Equity / Assets	10.45%	10.27%	13.62%	12.41%	12.54%	9.85%	9.17%	9.69%	9.78%	10.18%
Book Value / Share	15.98	16.42	15.6	22.52	20.85	22.47	21	25.44	25.47	30.22
NII Growth	-	10.08%	18.04%	40.24%	28.88%	59.16%	20.56%	29.69%	7.79%	5.7%
Dividend Payout	-	20.66%	36.96%	23.28%	21.26%	25.07%	18.1%	19.95%	17.81%	22.83%

Frequently Asked Questions

Valuation & Price

Business First Bancshares, Inc. (BFST) has a price-to-earnings (P/E) ratio of 12.1x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Business First Bancshares, Inc. (BFST) grew revenue by 18.7% over the past year. This is strong growth.

Yes, Business First Bancshares, Inc. (BFST) is profitable, generating $82.0M in net income for fiscal year 2024 (14.2% net margin).

Dividend & Returns

Yes, Business First Bancshares, Inc. (BFST) pays a dividend with a yield of 2.06%. This makes it attractive for income-focused investors.

Business First Bancshares, Inc. (BFST) has a return on equity (ROE) of 9.0%. This is below average, suggesting room for improvement.

Industry Metrics

Business First Bancshares, Inc. (BFST) has a net interest margin (NIM) of 2.9%. NIM has been under pressure due to interest rate environment.

Business First Bancshares, Inc. (BFST) has an efficiency ratio of 38.5%. This is excellent, indicating strong cost control.

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