Business First Bancshares Q1 adjusted EPS beats after Progressive acquisition

Business First Bancshares

27/04/2026 13:11

Overview

US commercial bank's Q1 adjusted EPS beat analyst expectations

Company completed Progressive Bancorp acquisition, boosting loans and deposits

Business First repurchased 99,105 shares for $2.7 mln in Q1

Outlook

Company does not anticipate material synergies from Progressive acquisition until after Q3 conversion

Company expects to resolve certain nonperforming loans during Q2 and Q3 2026

Result Drivers

PROGRESSIVE ACQUISITION - Q1 results were impacted by the closing of the Progressive Bancorp acquisition, which increased loans and deposits but did not yet contribute material synergies, per company

ORGANIC LOAN DECLINES - Excluding Progressive, organic commercial and commercial real estate loan portfolios decreased compared to the linked quarter

HIGHER EXPENSES - Salaries, benefits, occupancy, and data processing costs increased, largely due to acquisition and expansion activities

Company press release: ID:nGNX7zCF50

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Adjusted EPS
Beat
$0.73
$0.69 (5 Analysts)
Q1 EPS
$0.68
Q1 Adjusted Net Income
$24 mln
Q1 Net Interest Income
$75.2 mln
Q1 Credit Loss Provision
$2.3 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the banks peer group is "buy"

Wall Street's median 12-month price target for Business First Bancshares Inc is $32.50, about 15% above its April 24 closing price of $28.26

The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 9 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)