BFSTNasdaqState Commercial BanksFiscal year ends December 31
Business First Bancshares, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 31, 2026
$31.06−0.25 (-0.80%)
Close on Oct 19, 2026
- Market cap
- $1.02B
- P/E (TTM)
- 11.0
- Dividend yield
- 1.84%
Ownership
Institutional holdings as of Jun 30, 2026, from 13F filings
Held by institutions
58.0%
19M of 33M shares
Institutional holders
174
21 new, 13 sold out
Net institutional buying
3M
In Q2 2026
Insider trades, 12 months
4 buys · 29 sales
Net sold $6.48M
Shares held by institutions
Holders of more than 5%
Latest Schedule 13D (active) or 13G (passive) filed by each holder
| Holder | Shares | % of class | Filing | As of |
|---|---|---|---|---|
| BlackRock, Inc. | 2,607,517 | 8.00% | 13G (passive) amendment | Jun 30, 2026 |
| Vanguard Capital Management | 1,675,898 | 5.12% | 13G (passive) | Mar 31, 2026 |
Top institutional holders
13F holdings as of Jun 30, 2026
| Holder | Shares | % of BFST | Value | Change | % of portfolio |
|---|---|---|---|---|---|
| BlackRock, Inc. | 2,732,988 | 8.40% | $83.98M | +286,027 | 0.00% |
| Vanguard Capital Management LLC | 1,399,712 | 4.30% | $43.01M | −31,450 | 0.00% |
| Dimensional Fund Advisors LP | 1,311,018 | 4.03% | $40.29M | +145,298 | 0.01% |
| Jupiter Topco LLC | 1,089,827 | 3.35% | $33.49M | New | 0.01% |
| State Street Corp | 1,045,212 | 3.21% | $32.12M | +384,122 | 0.00% |
| American Century Companies Inc | 1,025,919 | 3.15% | $31.53M | +135,528 | 0.01% |
| Royce & Associates LP | 931,811 | 2.86% | $28.63M | +95,713 | 0.23% |
| Geode Capital Management, LLC | 863,416 | 2.65% | $26.54M | +53,412 | 0.00% |
| Bank of New York Mellon Corp | 450,790 | 1.38% | $13.85M | +8,937 | 0.00% |
| Manufacturers Life Insurance Company, The | 432,026 | 1.33% | $13.28M | −2,905 | 0.01% |
| JPMorgan Chase & Co | 405,623 | 1.25% | $12.44M | +170,739 | 0.00% |
| T. Rowe Price Investment Management, Inc. | 364,389 | 1.12% | $11.20K | New | 0.01% |
| Northern Trust Corp | 312,000 | 0.96% | $9.59M | +15,909 | 0.00% |
| RMB Capital Management, LLC | 293,902 | 0.90% | $9.03M | +43,893 | 0.14% |
| Mendon Capital Advisors Corp | 293,893 | 0.90% | $9.03M | +43,893 | 3.19% |
| Ranger Investment Management, L.P. | 284,500 | 0.87% | $8.74M | −36,790 | 0.55% |
| Vanguard Portfolio Management LLC | 278,146 | 0.85% | $8.55M | +32,839 | 0.00% |
| Charles Schwab Investment Management Inc | 271,895 | 0.84% | $8.36M | +5,478 | 0.00% |
| Russell Investments Group, Ltd. | 246,486 | 0.76% | $7.57M | +5,085 | 0.01% |
| Banc Funds Co LLC | 234,257 | 0.72% | $7.20M | – | 1.19% |
Institutional buying and selling by quarter
Positions opened, added to, reduced and closed by 13F filers
| Quarter | Holders | Shares held | % of shares | New / added | Reduced / closed | Shares bought | Shares sold |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 174 | 19M | 58.0% | 21 / 76 | 35 / 13 | 4M | 1M |
| Q1 2026 | 170 | 17M | 52.0% | 25 / 56 | 46 / 20 | 4M | 1M |
| Q4 2025 | 167 | 15M | 47.3% | 23 / 54 | 53 / 11 | 1M | 1M |
| Q3 2025 | 156 | 15M | 47.3% | 21 / 58 | 43 / 11 | 1M | 1M |
| Q2 2025 | 146 | 15M | 45.8% | 18 / 62 | 31 / 19 | 1M | 1M |
| Q1 2025 | 148 | 14M | 43.9% | 20 / 44 | 48 / 12 | 1M | 1M |
| Q4 2024 | 142 | 14M | 42.4% | 27 / 51 | 38 / 12 | 2M | 1M |
| Q3 2024 | 128 | 13M | 39.9% | 23 / 43 | 36 / 6 | 4M | 1M |
| Q2 2024 | 112 | 12M | 38.1% | 18 / 43 | 33 / 15 | 1M | 1M |
| Q1 2024 | 111 | 12M | 37.6% | 3 / 34 | 41 / 9 | 1M | 1M |
| Q4 2023 | 118 | 12M | 38.0% | 17 / 35 | 31 / 8 | 2M | 0M |
| Q3 2023 | 109 | 11M | 33.6% | 17 / 42 | 25 / 3 | 1M | 1M |
Top mutual fund and ETF holders
Latest monthly portfolio reports (Form N-PORT)
| Fund | Shares | % of BFST | Value | % of fund | As of |
|---|---|---|---|---|---|
| Vanguard Total Stock Market Index Fund | 989,964 | 3.04% | $30.42M | 0.00% | Jun 30, 2026 |
| iShares Russell 2000 ETF | 889,254 | 2.73% | $27.33M | 0.03% | Jun 30, 2026 |
| Janus Henderson Small Cap Value Fund | 823,664 | 2.53% | $25.31M | 1.99% | Jun 30, 2026 |
| Avantis U.S. Small Cap Value ETF | 818,129 | 2.51% | $23.30M | 0.09% | May 31, 2026 |
| Vanguard Extended Market Index Fund | 377,216 | 1.16% | $11.59M | 0.01% | Jun 30, 2026 |
| Fidelity Small Cap Index Fund | 346,400 | 1.06% | $11.02M | 0.03% | Jul 31, 2026 |
| iShares Russell 2000 Value ETF | 316,606 | 0.97% | $9.73M | 0.07% | Jun 30, 2026 |
| RMB Mendon Financial Services Fund | 293,893 | 0.90% | $9.03M | 3.50% | Jun 30, 2026 |
| Royce Small-Cap Opportunity Fund | 286,802 | 0.88% | $8.81M | 0.62% | Jun 30, 2026 |
| State Street(R) SPDR(R) S&P(R) Regional Banking ETF | 264,511 | 0.81% | $8.13M | 0.17% | Jun 30, 2026 |
| U.S. Small Cap Value Portfolio | 231,092 | 0.71% | $7.35M | 0.04% | Jul 31, 2026 |
| Regional Bank Fund | 215,468 | 0.66% | $6.86M | 0.71% | Jul 31, 2026 |
| T. Rowe Price Small-Cap Value Fund, Inc. | 211,499 | 0.65% | $6.50M | 0.06% | Jun 30, 2026 |
| Royce Small-Cap Fund | 175,930 | 0.54% | $5.41M | 0.25% | Jun 30, 2026 |
| Fidelity Extended Market Index Fund | 171,515 | 0.53% | $4.88M | 0.01% | May 31, 2026 |
Officers, directors and major owners
People who filed Forms 3, 4 or 5 in the last two years
| Name | Role | Shares owned | % of shares | Latest filing |
|---|---|---|---|---|
| David R. Melville Iii | President and CEO, Director | 208,902 | 0.64% | Apr 2, 2026 |
| Donald Chad Carter | EVP, Correspondent Banking | 12,642 | 0.04% | Aug 7, 2026 |
| Saundra Strong | EVP & General Counsel | 4,878 | 0.01% | Aug 6, 2026 |
| Keith Mansfield | EVP&COO of b1Bank | 77,139 | 0.24% | Jul 31, 2026 |
| Heather G. Roemer | EVP, CAO | 35,111 | 0.11% | Apr 2, 2026 |
| Philip Jordan | EVP&CBO of b1Bank | 87,308 | 0.27% | Apr 2, 2026 |
| Greg Robertson | EVP and CFO | 69,532 | 0.21% | Apr 2, 2026 |
| Warren McDonald | EVP & Chief Credit Officer | 14,195 | 0.04% | Apr 2, 2026 |
| Kathryn Manning | EVP & Chief Risk Officer | 15,791 | 0.05% | Apr 2, 2026 |
| Norman Jerome Vascocu Jr | President of b1Bank | 21,595 | 0.07% | Apr 2, 2026 |
| George W. Cummings III | Director | 187,656 | 0.58% | Aug 25, 2026 |
| William G. Hall | Director | 24,540 | 0.08% | Aug 7, 2026 |
| Joseph Vernon Johnson | Director | 281,769 | 0.87% | Jul 30, 2026 |
| Rick D. Day | Director | 269,901 | 0.83% | Jul 29, 2026 |
| Mark P. Folse | Director | 54,302 | 0.17% | Jun 29, 2026 |
| Keith Alexis Tillage | Director | 6,409 | 0.02% | Jun 29, 2026 |
| John P. Ducrest | Director | 20,768 | 0.06% | Jun 29, 2026 |
| Aimee M. Quirk | Director | 2,533 | 0.01% | Jun 29, 2026 |
| Zeenat Sidi | Director | 1,674 | 0.01% | Jun 29, 2026 |
| Steven Gerard White | Director | 44,679 | 0.14% | Jun 29, 2026 |
| Patrick E. Mockler | Director | 64,047 | 0.20% | Jun 29, 2026 |
| David A. Montgomery Jr. | Director | 14,268 | 0.04% | Jun 29, 2026 |
| Rolfe H. McCollister Jr. | Director | 99,096 | 0.30% | Jun 29, 2026 |
| Alejandro M. Sanchez | Director | 1,016 | 0.00% | Jun 29, 2026 |
| Arthur Price | Director | 22,680 | 0.07% | Jun 29, 2026 |
| James J. Buquet III | Director | 32,212 | 0.10% | Aug 5, 2025 |
| Carol Calkins | Director | 6,000 | 0.02% | Jun 30, 2025 |
Insider trades
Common stock transactions reported on Form 4, newest first
| Insider | Date | Transaction | Shares | Price | Value | Shares after |
|---|---|---|---|---|---|---|
| George W. Cummings III Director | Aug 24, 2026 | Sale | −10,000 | $31.33 | $313.30K | 183,745 |
| George W. Cummings III Director | Aug 21, 2026 | Sale | −4,200 | $31.27 | $131.33K | 193,745 |
| George W. Cummings III Director | Aug 19, 2026 | Sale | −3,235 | $31.80 | $102.87K | 197,945 |
| George W. Cummings III Director | Aug 18, 2026 | Sale | −10,000 | $31.78 | $317.80K | 201,180 |
| Donald Chad Carter EVP, Correspondent Banking | Aug 6, 2026 | Sale | −1,875 | $31.64 | $59.33K | 12,642 |
| William G. Hall Director | Aug 5, 2026 | Sale | −1,666 | $31.97 | $53.26K | 3,550 |
| William G. Hall Director | Aug 5, 2026 | Sale | −9,723 | $31.97 | $310.84K | 0 |
| Saundra Strong EVP & General Counsel | Aug 5, 2026 | Sale | −1,000 | $31.98 | $31.98K | 4,878 |
| George W. Cummings III Director | Aug 3, 2026 | Sale | −10,000 | $31.87 | $318.70K | 211,180 |
| George W. Cummings III Director | Jul 31, 2026 | Sale | −10,000 | $31.50 | $315.00K | 221,180 |
| Keith Mansfield EVP&COO of b1Bank | Jul 30, 2026 | Sale | −4,200 | $32.08 | $134.74K | 77,139 |
| George W. Cummings III Director | Jul 30, 2026 | Sale | −10,000 | $32.08 | $320.80K | 231,180 |
| Joseph Vernon Johnson Director | Jul 29, 2026 | Sale | −2,000 | $31.15 | $62.30K | 172,073 |
| George W. Cummings III Director | Jul 29, 2026 | Sale | −10,000 | $31.88 | $318.80K | 241,180 |
| Joseph Vernon Johnson Director | Jul 28, 2026 | Sale | −10,000 | $31.75 | $317.50K | 174,073 |
| George W. Cummings III Director | Jul 28, 2026 | Sale | −10,000 | $31.86 | $318.60K | 251,180 |
| Rick D. Day Director | Jul 28, 2026 | Buy | +1,500 | $31.61 | $47.42K | 269,901 |
| Alejandro M. Sanchez Director | Jun 26, 2026 | Option exercise | +1,016 | – | – | 1,016 |
| Aimee M. Quirk Director | Jun 26, 2026 | Option exercise | +1,016 | – | – | 2,533 |
| Joseph Vernon Johnson Director | Jun 26, 2026 | Option exercise | +1,016 | – | – | 184,073 |
| Keith Alexis Tillage Director | Jun 26, 2026 | Option exercise | +1,016 | – | – | 6,409 |
| Rolfe H. McCollister Jr. Director | Jun 26, 2026 | Option exercise | +1,016 | – | – | 94,096 |
| Mark P. Folse Director | Jun 26, 2026 | Option exercise | +1,016 | – | – | 54,302 |
| Arthur Price Director | Jun 26, 2026 | Option exercise | +1,016 | – | – | 11,680 |
| Patrick E. Mockler Director | Jun 26, 2026 | Option exercise | +1,016 | – | – | 33,159 |
| Steven Gerard White Director | Jun 26, 2026 | Option exercise | +1,016 | – | – | 14,930 |
| David A. Montgomery Jr. Director | Jun 26, 2026 | Option exercise | +1,016 | – | – | 14,268 |
| William G. Hall Director | Jun 26, 2026 | Option exercise | +1,016 | – | – | 20,990 |
| John P. Ducrest Director | Jun 26, 2026 | Option exercise | +1,016 | – | – | 14,732 |
| John P. Ducrest Director | Jun 26, 2026 | Returned to company | −1,016 | – | – | 13,716 |
| Zeenat Sidi Director | Jun 26, 2026 | Option exercise | +1,016 | – | – | 1,674 |
| Rick D. Day Director | Jun 26, 2026 | Option exercise | +1,016 | – | – | 268,401 |
| George W. Cummings III Director | Jun 11, 2026 | Sale | −5,000 | $28.78 | $143.90K | 261,180 |
| George W. Cummings III Director | Jun 10, 2026 | Sale | −15,000 | $28.89 | $433.35K | 266,180 |
| George W. Cummings III Director | Jun 8, 2026 | Sale | −15,000 | $28.54 | $428.10K | 281,180 |
| George W. Cummings III Director | May 27, 2026 | Sale | −11,595 | $27.92 | $323.73K | 296,180 |
| George W. Cummings III Director | May 22, 2026 | Sale | −10,000 | $27.99 | $279.90K | 307,775 |
| David R. Melville Iii President and CEO, Director | Mar 31, 2026 | Tax withholding | −4,279 | $27.04 | $115.70K | 208,902 |
| Heather G. Roemer EVP, CAO | Mar 31, 2026 | Tax withholding | −528 | $27.04 | $14.28K | 19,064 |
| Philip Jordan EVP&CBO of b1Bank | Mar 31, 2026 | Tax withholding | −1,033 | $27.04 | $27.93K | 81,008 |
| Kathryn Manning EVP & Chief Risk Officer | Mar 31, 2026 | Tax withholding | −874 | $27.04 | $23.63K | 15,791 |
| Saundra Strong EVP & General Counsel | Mar 31, 2026 | Tax withholding | −1,204 | $27.04 | $32.56K | 5,878 |
| Warren McDonald EVP & Chief Credit Officer | Mar 31, 2026 | Tax withholding | −1,158 | $27.04 | $31.31K | 14,195 |
| Donald Chad Carter EVP, Correspondent Banking | Mar 31, 2026 | Tax withholding | −317 | $27.04 | $8.57K | 14,517 |
| Greg Robertson EVP and CFO | Mar 31, 2026 | Tax withholding | −1,033 | $27.04 | $27.93K | 69,532 |
| Keith Mansfield EVP&COO of b1Bank | Mar 31, 2026 | Tax withholding | −1,324 | $27.04 | $35.80K | 81,339 |
| Norman Jerome Vascocu Jr President of b1Bank | Mar 31, 2026 | Tax withholding | −1,600 | $27.04 | $43.26K | 21,595 |
| George W. Cummings III Director | Mar 4, 2026 | Sale | −11,000 | $27.60 | $303.60K | 317,775 |
| George W. Cummings III Director | Mar 3, 2026 | Sale | −9,800 | $27.42 | $268.72K | 328,775 |
| George W. Cummings III Director | Mar 2, 2026 | Sale | −200 | $27.80 | $5.56K | 338,575 |
| Kathryn Manning EVP & Chief Risk Officer | Mar 1, 2026 | Returned to company | −1,239 | $27.30 | $33.82K | 16,665 |
| Kathryn Manning EVP & Chief Risk Officer | Mar 1, 2026 | Option exercise | +1,239 | – | – | 17,904 |
| David R. Melville Iii President and CEO, Director | Mar 1, 2026 | Returned to company | −5,376 | $27.30 | $146.76K | 213,181 |
| David R. Melville Iii President and CEO, Director | Mar 1, 2026 | Option exercise | +5,376 | – | – | 218,557 |
| Warren McDonald EVP & Chief Credit Officer | Mar 1, 2026 | Option exercise | +1,337 | – | – | 15,918 |
| Warren McDonald EVP & Chief Credit Officer | Mar 1, 2026 | Tax withholding | −565 | $27.30 | $15.42K | 15,353 |
| Norman Jerome Vascocu Jr President of b1Bank | Mar 1, 2026 | Returned to company | −2,655 | $27.30 | $72.48K | 23,195 |
| Norman Jerome Vascocu Jr President of b1Bank | Mar 1, 2026 | Option exercise | +2,655 | – | – | 25,850 |
| Saundra Strong EVP & General Counsel | Mar 1, 2026 | Tax withholding | −295 | $27.30 | $8.05K | 7,751 |
| Saundra Strong EVP & General Counsel | Mar 1, 2026 | Returned to company | −669 | $27.30 | $18.26K | 7,082 |
Awards, option exercises, tax withholding and gifts are shown alongside open-market buys and sales. Each name links to the filing on SEC EDGAR.
Planned insider sales
Notices of proposed sale filed on Form 144 before shares are sold
| Seller | Filed | Shares | Market value | Planned sale | Acquired through |
|---|---|---|---|---|---|
| W. Cummings George Director | Sep 1, 2026 | 20,445 | $586.57K | Jun 9, 2026 | Acquired from issuer in private transaction |
| George W. Cummings III Director | Aug 28, 2026 | 20,000 | $560.06K | Feb 25, 2026 | Merger with Progressive Bancorp, Inc. |
| George W. Cummings III Director | Aug 28, 2026 | 10,000 | $280.00K | Mar 2, 2026 | Merger with Progressive Bancorp, Inc. |
| George W. Cummings III Director | Aug 28, 2026 | 11,000 | $302.50K | Mar 4, 2026 | Merger with Progressive Bancorp, Inc. |
| George W. Cummings III Director | Aug 28, 2026 | 11,000 | $303.27K | Mar 5, 2026 | Merger with Progressive Bancorp, Inc. |
| W. Cummings George Director | Aug 24, 2026 | 2,435 | $76.22K | Aug 24, 2026 | Acquired from issuer in private transaction |
| W. Cummings George Director | Aug 18, 2026 | 25,000 | $799.25K | Aug 18, 2026 | Acquired from issuer in private transaction |
| Donald Chad Carter Officer | Aug 6, 2026 | 1,875 | $59.98K | Aug 6, 2026 | PERFORMANCE GRANT |
| G. Hall William Director | Aug 5, 2026 | 11,389 | $365.25K | Aug 5, 2026 | Private Placement |
| W. Cummings George Director | Jul 30, 2026 | 30,000 | $958.20K | Jul 30, 2026 | Acquired from issuer in private transaction |
| Mansfield Keith Officer | Jul 30, 2026 | 4,200 | $134.73K | Jul 30, 2026 | Restricted Stock |
| W. Cummings George Director | Jul 28, 2026 | 20,000 | $641.60K | Jul 28, 2026 | Acquired from issuer in private transaction |
| Joseph Vernon Johnson Director | Jul 27, 2026 | 12,000 | $373.92K | Jul 28, 2026 | Merger |
| W. Cummings George Director | Jun 25, 2026 | 10,000 | $278.40K | May 22, 2026 | Acquired from issuer in private transaction |
| W. Cummings George Director | Jun 9, 2026 | 20,445 | $586.57K | Jun 9, 2026 | Acquired from issuer in private transaction |