BayFirst Financial (NASDAQ:BAFN) Releases Earnings Results

BayFirst Financial (NASDAQ:BAFN) issued its earnings results on Thursday. The company reported ($8.05) EPS for the quarter, FiscalAI reports. The business had revenue of $2.61 million during the quarter. BayFirst Financial had a negative net margin of 80.74% and a negative return on equity of 85.05%.

BayFirst Financial Trading Down 0.8%

BayFirst Financial stock traded down $0.05 during trading on Friday, hitting $6.41. The company had a trading volume of 17,561 shares, compared to its average volume of 24,390. The stock has a market cap of $26.35 million, a price-to-earnings ratio of -0.43 and a beta of 0.53. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 0.11. BayFirst Financial has a 1-year low of $4.26 and a 1-year high of $11.34. The company’s 50 day simple moving average is $5.62 and its 200-day simple moving average is $6.31.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of BayFirst Financial in a research note on Wednesday, June 24th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has a consensus rating of “Sell”.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of BAFN. Tactive Advisors LLC purchased a new stake in shares of BayFirst Financial in the 1st quarter valued at $98,000. Quantbot Technologies LP purchased a new position in BayFirst Financial during the 2nd quarter valued at about $174,000. Stifel Financial Corp grew its position in BayFirst Financial by 46.5% in the 4th quarter. Stifel Financial Corp now owns 23,200 shares of the company’s stock valued at $182,000 after acquiring an additional 7,369 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new position in BayFirst Financial in the 2nd quarter valued at about $228,000. Finally, BlackRock Inc. purchased a new stake in BayFirst Financial during the second quarter worth about $264,000. 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.