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

BayFirst Financial Corp. (NASDAQ:BAFN) was the target of a significant decrease in short interest during the month of July. As of July 15th, there was short interest totalling 3,600 shares, a decrease of 59.1% from the June 30th total of 8,800 shares. Currently, 0.1% of the company’s shares are sold short. Based on an average trading volume of 7,800 shares, the short-interest ratio is currently 0.5 days.

BayFirst Financial Trading Down 0.4 %

Shares of BayFirst Financial stock traded down $0.05 on Friday, reaching $12.99. 4,357 shares of the company’s stock were exchanged, compared to its average volume of 5,670. The company has a market capitalization of $53.71 million, a P/E ratio of 11.50 and a beta of 0.41. BayFirst Financial has a 52 week low of $8.88 and a 52 week high of $15.00. The firm’s 50-day moving average is $11.95 and its two-hundred day moving average is $12.44. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 0.98.

BayFirst Financial (NASDAQ:BAFN) last posted its quarterly earnings results on Thursday, April 25th. The company reported $0.12 earnings per share (EPS) for the quarter. The firm had revenue of $23.01 million for the quarter. BayFirst Financial had a return on equity of 6.39% and a net margin of 4.01%.

BayFirst Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date is Friday, August 30th. BayFirst Financial’s payout ratio is 28.32%.

Hedge Funds Weigh In On BayFirst Financial

A number of institutional investors and hedge funds have recently modified their holdings of BAFN. Graham Capital Wealth Management LLC bought a new position in shares of BayFirst Financial during the 1st quarter worth approximately $588,000. Kennedy Capital Management LLC boosted 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 buying an additional 7,774 shares in the last quarter. Finally, Banc Funds Co. LLC boosted its holdings in shares of 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 buying an additional 5,159 shares in the last quarter. 16.88% of the stock is currently owned by institutional investors.

About BayFirst Financial

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.