The GAAP EPS miss relative to consensus is the primary negative, though core EPS showed improvement. Monitor the net charge-off trajectory and allowance coverage ratio — the increase in charge-offs and decline in reserve coverage could signal credit deterioration. The margin expansion and loan growth are positive trends to watch for sustainability.
Price Chart
Executive Summary
Business First Bancshares reported Q3 2026 GAAP diluted EPS of $0.71, slightly below the consensus estimate of $0.74, while core (non-GAAP) diluted EPS was $0.79. Net interest margin expanded 13 bps to 3.86% and loans grew 7.2% annualized, but net charge-offs increased to 8 bps from 4 bps and the allowance for credit losses ratio declined to 0.95% from 1.02%. The GAAP EPS miss relative to consensus is the headline item, partially offset by margin expansion and loan growth.
Key Financial Metrics
Key Facts
- GAAP diluted EPS of $0.71 vs consensus estimate of $0.74 — a miss of approximately 4.1%.
- Core (non-GAAP) diluted EPS of $0.79, up from $0.71 in the linked quarter.
- Net interest margin expanded 13 bps to 3.86% (GAAP) and 12 bps to 3.80% (non-GAAP).
- Loans held for investment grew $121.4 million (7.2% annualized) and deposits grew $141.2 million (7.7% annualized).
- Net charge-offs to average loans increased to 8 bps from 4 bps in the linked quarter.
- Allowance for credit losses to loans declined to 0.95% from 1.02%.
- Company repurchased 204,160 shares for $6.3 million at a weighted average price of $30.81.
- Tangible book value per share increased to $23.71 from $23.61.
Financial Impact
GAAP EPS miss of ~$0.03 vs consensus; core EPS of $0.79 was $0.08 above GAAP EPS due to acquisition-related adjustments.
Risk Factors
- GAAP EPS missed consensus by ~4.1%, which may pressure the stock near term.
- Net charge-offs increased to 8 bps from 4 bps, and the allowance for credit losses ratio declined to 0.95% from 1.02%.
- Accumulated other comprehensive loss increased sharply from $35.8M to $54.9M due to negative fair value adjustments in the securities portfolio.
- Merger and conversion-related expenses remain elevated at $1.4M in Q3 2026.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001624322-26-000040 |
| Document: bfstq326investorpresenta.htm | 0001624322-26-000040 |
| Document: bfst-20261026.htm | 0001624322-26-000040 |
| Document: 0001624322-26-000040-index-headers.html | 0001624322-26-000040 |
| Document: 0001624322-26-000040-index.html | 0001624322-26-000040 |
| Document: 0001624322-26-000040.txt | 0001624322-26-000040 |
| 8-K Data (Synthetic) | 0001624322-26-000040 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 1d ago | Press Release | $31.61 | awaiting T+20 | — | $31.84 (−0.73%) |
Oct 26, 2026 1d ago | 8-K | $31.61 | awaiting T+20 | — | $31.84 (−0.73%) |
Oct 1, 2026 25d ago | Press Release | $30.90 | awaiting T+20 | — | $31.84 (+3.04%) |
Aug 12, 2026 10w ago | Institutional Cluster | $32.28 $31.42 | ▼ −2.66% | ▼ −0.92% | $31.84 (−1.36%) |
Aug 7, 2026 11w ago | Insider Cluster | $31.54 $31.38 | ▼ −0.51% | ▲ +0.41% | $31.84 (+0.95%) |
Aug 7, 2026 11w ago | Insider Cluster | $31.54 $31.38 | ▼ −0.51% | ▲ +0.41% | $31.84 (+0.95%) |
Aug 6, 2026 11w ago | Insider Cluster | $31.66 $31.84 | ▲ +0.57% | ▲ +0.97% | $31.84 (+0.57%) |
Aug 5, 2026 11w ago | Insider Cluster | $31.71 $31.49 | ▼ −0.69% | ▼ −1.29% | $31.84 (+0.41%) |
Jul 31, 2026 12w ago | Insider Cluster | $31.92 $31.02 | ▼ −2.82% | ▼ −4.06% | $31.84 (−0.25%) |
Jul 30, 2026 12w ago | Insider Cluster | $31.82 $31.21 | ▼ −1.92% | ▼ −4.90% | $31.84 (+0.06%) |
US Market Status
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