BayFirst Financial (NASDAQ:BAFN) Issues Earnings Results

BayFirst Financial (NASDAQ:BAFN) released its quarterly earnings results on Thursday. The company reported ($8.05) earnings per share (EPS) for the quarter, FiscalAI reports. BayFirst Financial had a negative return on equity of 37.66% and a negative net margin of 29.20%.The firm had revenue of $2.61 million for the quarter.

BayFirst Financial Price Performance

NASDAQ BAFN traded down $0.07 on Friday, hitting $6.38. The stock had a trading volume of 3,458 shares, compared to its average volume of 28,337. The company has a market capitalization of $26.24 million, a price-to-earnings ratio of -0.88 and a beta of 0.53. BayFirst Financial has a 52-week low of $4.26 and a 52-week high of $11.34. The firm has a 50-day moving average of $5.60 and a 200-day moving average of $6.31. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.91 and a current ratio of 0.96.

Institutional Trading of BayFirst Financial

Several hedge funds have recently added to or reduced their stakes in BAFN. Commerce Bank bought a new stake in BayFirst Financial during the 2nd quarter valued at $326,000. Quantbot Technologies LP purchased a new stake in shares of BayFirst Financial in the 2nd quarter worth about $174,000. BlackRock Inc. purchased a new stake in BayFirst Financial in the second quarter worth about $264,000. Deutsche Bank AG purchased a new stake in shares of BayFirst Financial in the 2nd quarter worth approximately $1,789,000. Finally, Bank of New York Mellon Corp bought a new position in BayFirst Financial during the 2nd quarter valued at approximately $6,217,000. 16.88% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d)” rating on shares of BayFirst Financial in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Sell”.

BayFirst Financial Company Profile

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.