BayFirst Financial (NASDAQ:BAFN) Shares Down 0.8% – Here’s What Happened

BayFirst Financial Corp. (NASDAQ:BAFN)’s share price fell 0.8% on Monday . The stock traded as low as $4.88 and last traded at $4.92. Approximately 6,870 shares traded hands during trading, a decline of 65% from the average daily volume of 19,482 shares. The stock had previously closed at $4.96.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of BayFirst Financial in a research note on Friday, March 27th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

BayFirst Financial Stock Performance

The stock has a market cap of $18.69 million, a P/E ratio of -0.63 and a beta of 0.54. The company has a fifty day moving average of $6.48 and a 200 day moving average of $6.75. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.96 and a quick ratio of 0.91.

BayFirst Financial (NASDAQ:BAFN) last issued its quarterly earnings results on Thursday, April 30th. The company reported ($1.48) earnings per share (EPS) for the quarter. BayFirst Financial had a negative net margin of 29.20% and a negative return on equity of 37.66%. The firm had revenue of $10.33 million for the quarter.

Institutional Investors Weigh In On BayFirst Financial

Several hedge funds and other institutional investors have recently bought and sold shares of BAFN. Banc Funds Co. LLC raised its holdings in shares of BayFirst Financial by 35.5% in the 3rd quarter. Banc Funds Co. LLC now owns 169,772 shares of the company’s stock worth $1,776,000 after purchasing an additional 44,500 shares in the last quarter. Tactive Advisors LLC bought a new stake in BayFirst Financial during the first quarter worth approximately $98,000. Finally, Stifel Financial Corp boosted its holdings in BayFirst Financial by 46.5% during the fourth quarter. Stifel Financial Corp now owns 23,200 shares of the company’s stock worth $182,000 after buying an additional 7,369 shares in the last quarter. 16.88% of the stock is currently owned by 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.