Business First Bancshares, Inc. (BFST) vs Mercantile Bank Corporation (MBWM)
A side-by-side comparison of Business First Bancshares, Inc. and Mercantile Bank Corporation across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of October 6, 2026. Differences are shown without an overall score or investment verdict.
Total return — BFST vs MBWM
growth of $100 · dividends reinvested · last 8yBFST vs MBWM: by the numbers
- •MBWM is the larger company ($1.02B vs $1.01B market cap).
- •MBWM trades at the lower trailing earnings multiple (10.39 vs 10.93 P/E), one valuation lens rather than an overall verdict.
- •MBWM converts more revenue to profit (24.79% vs 20.42% net margin).
- •BFST grew revenue faster over the past five years (17.05% vs 14.13% CAGR).
- •MBWM pays the higher dividend yield (2.63% vs 1.94%).
Metrics side by side
Valuation
| Metric | BFST | MBWM |
|---|---|---|
| P/E ratio | 10.93 | 10.39 |
| Forward P/E | 10.25 | 10.65 |
| PEG ratio | 0.98 | 0.69 |
| P/S ratio | 2.21 | 2.65 |
| P/B ratio | 1.08 | 1.35 |
Profitability
| Metric | BFST | MBWM |
|---|---|---|
| Operating margin | 22.15% | 28.78% |
| Net margin | 20.42% | 24.79% |
| ROE | 9.22% | 12.61% |
Business First Bancshares, Inc.: Gross margin is not shown for a lender or insurer: its revenue is interest, premiums and fees rather than the sale of goods, so there is no cost of goods sold to measure it against.
Mercantile Bank Corporation: Gross margin is not shown for a lender or insurer: its revenue is interest, premiums and fees rather than the sale of goods, so there is no cost of goods sold to measure it against.
Dividends
| Metric | BFST | MBWM |
|---|---|---|
| Dividend yield | 1.94% | 2.63% |
| Payout ratio | 21.28% | 27.46% |
Growth (annualized)
| Metric | BFST | MBWM |
|---|---|---|
| Revenue CAGR (5Y) | 17.05% | 14.13% |
| EPS CAGR (5Y) | 11.08% | 15.04% |
| Total return CAGR (5Y) | 7.54% | 16.02% |
Frequently asked
- Which has the lower trailing P/E, BFST or MBWM?
- MBWM has the lower trailing P/E: BFST trades at 10.93 and MBWM at 10.39. P/E is one valuation measure and does not by itself establish which business is cheaper.
- Which has grown faster, BFST or MBWM?
- Over the past five years, BFST grew revenue faster — BFST at a 17.05% CAGR versus MBWM at 14.13%.
- Does BFST or MBWM pay a bigger dividend?
- BFST yields 1.94% and MBWM yields 2.63% based on trailing dividends and the latest price.
- Is BFST or MBWM more profitable?
- MBWM runs the higher net margin — BFST at 20.42% versus MBWM at 24.79%.
- How have BFST and MBWM total returns compared?
- Over the past 5 years, BFST delivered 7.54% and MBWM delivered 16.02% annualized total return. Past performance doesn't predict future results.
Go deeper
Dig into the metrics
Business First Bancshares & Mercantile Bank appear in these rankings
Figures are sourced from reported fundamentals and the latest end-of-day price. This comparison is informational only and is not investment advice. Past performance does not predict future results. See our methodology. Compiled by TGMCharts Research · data verified October 6, 2026.