Business First Bancshares (NASDAQ:BFST – Get Free Report) posted its quarterly earnings data on Thursday. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.01, FiscalAI reports. Business First Bancshares had a net margin of 17.02% and a return on equity of 11.10%. The business had revenue of $91.00 million during the quarter, compared to analysts’ expectations of $91.31 million.
Here are the key takeaways from Business First Bancshares’ conference call:
- Management said Q2 was a solid quarter, with net interest margin expanding 8 bps and core earnings showing strong profitability metrics, including a 105 core ROAA and 63.9% core efficiency ratio.
- The bank made notable progress on credit quality, with non-performing loans down about 30% and management expecting further improvement through the rest of the year as problem credits continue to resolve.
- Loan growth was temporarily masked by a sizable loan sale, but management expects to redeploy the proceeds and build on a strong pipeline, especially in Houston, with high single-digit annualized loan growth targeted in coming quarters.
- Deposits declined in the quarter due to a mix of seasonal outflows and a deliberate reduction in higher-cost brokered deposits, and management said balances had already begun to recover in July.
- Management highlighted multiple growth catalysts, including the upcoming Progressive Bank conversion, expected expense savings later in the year, and a long-term opportunity from major Louisiana economic investment tied to data centers and related infrastructure.
Business First Bancshares Stock Performance
NASDAQ:BFST opened at $30.47 on Friday. Business First Bancshares has a twelve month low of $22.56 and a twelve month high of $31.57. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.39. The company has a 50-day moving average of $29.30 and a 200-day moving average of $28.22. The firm has a market cap of $995.76 million, a price-to-earnings ratio of 10.81 and a beta of 0.78.
Business First Bancshares Dividend Announcement
Analyst Ratings Changes
BFST has been the topic of several recent analyst reports. Stephens set a $33.00 target price on Business First Bancshares in a report on Monday, April 27th. DA Davidson reaffirmed a “buy” rating and set a $33.00 price target on shares of Business First Bancshares in a research note on Tuesday, April 28th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Business First Bancshares in a research report on Monday, July 6th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Business First Bancshares presently has an average rating of “Buy” and a consensus target price of $32.33.
View Our Latest Research Report on Business First Bancshares
Insider Activity
In related news, Director George W. Cummings III sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $28.54, for a total value of $428,100.00. Following the sale, the director directly owned 281,180 shares in the company, valued at $8,024,877.20. The trade was a 5.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders have sold 36,595 shares of company stock valued at $1,031,732. Insiders own 5.67% of the company’s stock.
Institutional Trading of Business First Bancshares
A number of large investors have recently added to or reduced their stakes in BFST. Smartleaf Asset Management LLC increased its holdings in shares of Business First Bancshares by 15,600.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,099 shares of the company’s stock valued at $29,000 after buying an additional 1,092 shares in the last quarter. FWL Investment Management LLC bought a new stake in shares of Business First Bancshares during the 3rd quarter worth $42,000. Tower Research Capital LLC TRC boosted its stake in shares of Business First Bancshares by 389.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,669 shares of the company’s stock worth $66,000 after acquiring an additional 2,124 shares in the last quarter. Virtus Advisers LLC acquired a new position in shares of Business First Bancshares in the 3rd quarter worth $123,000. Finally, Quantbot Technologies LP grew its holdings in shares of Business First Bancshares by 43.3% in the 2nd quarter. Quantbot Technologies LP now owns 5,914 shares of the company’s stock worth $146,000 after acquiring an additional 1,786 shares during the last quarter. 47.35% of the stock is currently owned by institutional investors.
Key Stories Impacting Business First Bancshares
Here are the key news stories impacting Business First Bancshares this week:
- Positive Sentiment: BFST reported Q2 earnings of $0.71 per share, edging past analyst expectations by $0.01 and up from $0.66 a year ago, a sign of steady profitability. Business First Bancshares earnings report
- Positive Sentiment: The company declared a quarterly dividend of $0.15 per share, signaling continued capital return to shareholders and implying an annualized yield of about 2.0%. Business First Bancshares dividend announcement
- Positive Sentiment: Sector-wide commentary on regional banks was supportive, with lenders reporting stronger net interest income, loan and deposit growth, and improved credit quality, which may be helping sentiment around BFST. Regional banks earnings sector update
- Neutral Sentiment: Revenue for the quarter came in at $91.0 million, slightly below the $91.31 million consensus estimate, so the quarter was a modest earnings beat but not a clear top-line surprise. Business First Bancshares earnings report
About Business First Bancshares
Business First Bancshares, Inc is the bank holding company for Business First Bank, a regional community bank headquartered in Louisville, Kentucky. Through its wholly owned subsidiary, the company provides a full suite of commercial and retail banking services to small and medium-sized businesses, professionals and individual consumers. Business First Bancshares operates under a community-focused model, emphasizing personalized service, local decision-making and relationship banking.
The company’s primary business activities include commercial lending, treasury and cash management, and deposit services.
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