BayFirst Financial (NASDAQ:BAFN) Issues Earnings Results

BayFirst Financial (NASDAQ:BAFN) announced its earnings results on Thursday. The company reported ($1.48) earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of $10.33 million for the quarter. BayFirst Financial had a negative return on equity of 36.08% and a negative net margin of 29.20%.

BayFirst Financial Trading Down 23.5%

Shares of NASDAQ BAFN traded down $1.96 during midday trading on Friday, reaching $6.37. 629,628 shares of the stock were exchanged, compared to its average volume of 26,455. The company has a market capitalization of $26.18 million, a P/E ratio of -1.08 and a beta of 0.63. BayFirst Financial has a 52-week low of $4.80 and a 52-week high of $17.45. The company has a current ratio of 0.97, a quick ratio of 0.93 and a debt-to-equity ratio of 0.11. The stock has a 50 day moving average price of $6.75 and a 200-day moving average price of $7.45.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d)” rating on shares of BayFirst Financial in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of “Sell”.

Institutional Investors Weigh In On BayFirst Financial

A number of hedge funds and other institutional investors have recently modified their holdings of BAFN. Banc Funds Co. LLC grew its holdings in shares of BayFirst Financial by 35.5% during the third quarter. Banc Funds Co. LLC now owns 169,772 shares of the company’s stock worth $1,776,000 after buying an additional 44,500 shares in the last quarter. Tactive Advisors LLC purchased a new stake in shares of BayFirst Financial during the first quarter worth about $98,000. Finally, Stifel Financial Corp grew its holdings in shares of BayFirst Financial by 46.5% during the fourth quarter. Stifel Financial Corp now owns 23,200 shares of the company’s stock worth $182,000 after buying an additional 7,369 shares in the last quarter. 16.88% of the stock is currently owned by hedge funds and other institutional investors.

About BayFirst Financial

BayFirst Financial Corp (NASDAQ: BAFN) is the bank holding company for BayFirst National Bank, which operates as a Florida-chartered community bank. The company provides a range of commercial banking services, catering to both business and individual customers in the Tampa Bay region. BayFirst Financial emphasizes relationship-driven banking, offering personalized solutions tailored to the needs of local clients.

The company’s product suite includes deposit accounts such as checking, savings, money market accounts and certificates of deposit.