BayFirst Financial Corp. (NASDAQ:BAFN) Sees Significant Decrease in Short Interest

BayFirst Financial Corp. (NASDAQ:BAFN) was the target of a large drop in short interest during the month of June. As of June 15th, there was short interest totalling 4,800 shares, a drop of 74.7% from the May 31st total of 19,000 shares. Based on an average daily volume of 8,000 shares, the short-interest ratio is presently 0.6 days. Currently, 0.2% of the shares of the company are short sold.

Institutional Investors Weigh In On BayFirst Financial

Several institutional investors have recently made changes to their positions in the stock. Banc Funds Co. LLC increased its stake in BayFirst Financial by 3.9% during the 4th quarter. Banc Funds Co. LLC now owns 138,752 shares of the company’s stock worth $1,810,000 after acquiring an additional 5,159 shares during the period. Kennedy Capital Management LLC grew its holdings in shares of BayFirst Financial by 28.1% during the 1st quarter. Kennedy Capital Management LLC now owns 35,425 shares of the company’s stock worth $459,000 after purchasing an additional 7,774 shares in the last quarter. Finally, Graham Capital Wealth Management LLC bought a new position in shares of BayFirst Financial in the first quarter worth $588,000. 16.88% of the stock is currently owned by institutional investors.

BayFirst Financial Stock Performance

NASDAQ BAFN traded up $0.10 on Friday, reaching $11.64. The stock had a trading volume of 3,076 shares, compared to its average volume of 11,472. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.98 and a quick ratio of 0.90. The company has a market cap of $48.07 million, a P/E ratio of 10.30 and a beta of 0.40. The firm has a fifty day moving average of $12.04 and a two-hundred day moving average of $12.44. BayFirst Financial has a 1-year low of $8.88 and a 1-year high of $15.00.

BayFirst Financial (NASDAQ:BAFN) last released its quarterly earnings results on Thursday, April 25th. The company reported $0.12 EPS for the quarter. BayFirst Financial had a net margin of 4.52% and a return on equity of 7.09%. The business had revenue of $23.01 million for the quarter.

BayFirst Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, June 15th. Stockholders of record on Saturday, June 1st were issued a dividend of $0.08 per share. The ex-dividend date was Friday, May 31st. This represents a $0.32 annualized dividend and a dividend yield of 2.75%. BayFirst Financial’s dividend payout ratio is presently 28.32%.

BayFirst Financial Company Profile

BayFirst Financial Corp. operates as the bank holding company for BayFirst National Bank that provides community banking services for businesses and individuals. The company offers checking, savings, NOW, and money market deposit accounts, as well as certificates of deposit and individual retirement account; and safety deposit boxes.