BayFirst Financial Corp. (NASDAQ:BAFN) Sees Large Growth in Short Interest

BayFirst Financial Corp. (NASDAQ:BAFN) was the target of a large increase in short interest in September. As of September 15th, there was short interest totalling 10,000 shares, an increase of 20.5% from the August 31st total of 8,300 shares. Based on an average daily volume of 6,600 shares, the days-to-cover ratio is presently 1.5 days. Approximately 0.3% of the shares of the stock are sold short.

BayFirst Financial Price Performance

BAFN stock remained flat at $13.50 during mid-day trading on Friday. 184 shares of the company’s stock traded hands, compared to its average volume of 8,633. The company has a market capitalization of $55.82 million, a P/E ratio of 11.95 and a beta of 0.44. BayFirst Financial has a 1-year low of $8.88 and a 1-year high of $14.50. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 0.74. The firm’s 50-day moving average price is $13.26 and its 200-day moving average price is $12.65.

BayFirst Financial (NASDAQ:BAFN) last announced its earnings results on Thursday, July 25th. The company reported $0.12 earnings per share (EPS) for the quarter. The firm had revenue of $20.84 million for the quarter. BayFirst Financial had a net margin of 4.01% and a return on equity of 6.38%.

BayFirst Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 15th. Stockholders of record on Sunday, September 1st were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 2.37%. The ex-dividend date was Friday, August 30th. BayFirst Financial’s dividend payout ratio is 28.32%.

Institutional Trading of BayFirst Financial

An institutional investor recently raised its position in BayFirst Financial stock. Kennedy Capital Management LLC raised its position in BayFirst Financial Corp. (NASDAQ:BAFN) by 28.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,425 shares of the company’s stock after purchasing an additional 7,774 shares during the quarter. Kennedy Capital Management LLC owned 0.86% of BayFirst Financial worth $459,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 16.88% of the company’s stock.

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.