BayFirst Financial (NASDAQ:BAFN) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of BayFirst Financial (NASDAQ:BAFN) from a sell rating to a hold rating in a research note issued to investors on Saturday,Wall Street Zen reports.

Separately, Weiss Ratings downgraded shares of BayFirst Financial from a “sell (d)” rating to a “sell (d-)” rating in a research note on Thursday, August 20th. One investment analyst has rated the stock with a Sell rating. According to MarketBeat, BayFirst Financial currently has a consensus rating of “Sell”.

BayFirst Financial Stock Down 0.8%

Shares of BAFN stock traded down $0.05 during mid-day trading on Friday, hitting $6.16. 32,753 shares of the stock traded hands, compared to its average volume of 50,321. The stock has a market cap of $198.48 million, a P/E ratio of -0.60 and a beta of 0.54. The stock’s fifty day moving average is $6.93 and its two-hundred day moving average is $6.51. BayFirst Financial has a 52-week low of $4.26 and a 52-week high of $9.50. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.97 and a quick ratio of 0.94.

BayFirst Financial (NASDAQ:BAFN) last issued its quarterly earnings data on Thursday, October 29th. The company reported ($0.04) earnings per share (EPS) for the quarter. BayFirst Financial had a negative return on equity of 63.99% and a negative net margin of 62.42%. The firm had revenue of $11.73 million during the quarter.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Marshall Wace LLP purchased a new stake in BayFirst Financial in the third quarter valued at about $99,000. Angel Oak Capital Advisors LLC purchased a new stake in shares of BayFirst Financial during the third quarter worth about $172,000. State Street Corp purchased a new stake in shares of BayFirst Financial during the third quarter worth about $69,000. Banc Funds Co. LLC increased its holdings in shares of BayFirst Financial by 25.8% during the third quarter. Banc Funds Co. LLC now owns 115,358 shares of the company’s stock valued at $786,000 after acquiring an additional 23,679 shares in the last quarter. Finally, Tactive Advisors LLC acquired a new position in shares of BayFirst Financial during the third quarter valued at about $105,000. 16.88% of the stock is owned by institutional investors and hedge funds.

About BayFirst Financial

BayFirst Financial Corp. is a bank holding company for BayFirst National Bank, a community bank headquartered in St. Petersburg, Florida. The bank serves individuals, businesses and organizations through personal and commercial banking services, including deposit accounts, loans and digital banking. BayFirst also provides small-business financing, including loans through the U.S. Small Business Administration (SBA) programs, as well as mortgage lending. Its community banking operations are concentrated in Florida’s Tampa Bay region, while its SBA lending reaches businesses in a broader range of markets.