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

BayFirst Financial Corp. (NASDAQ:BAFN) was the target of a significant 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 trading volume, of 6,600 shares, the days-to-cover ratio is currently 1.5 days. Currently, 0.3% of the shares of the stock are sold short.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in BayFirst Financial stock. Kennedy Capital Management LLC grew its holdings in shares of BayFirst Financial Corp. (NASDAQ:BAFN) by 28.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,425 shares of the company’s stock after purchasing an additional 7,774 shares during the quarter. Kennedy Capital Management LLC owned approximately 0.86% of BayFirst Financial worth $459,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 16.88% of the company’s stock.

BayFirst Financial Stock Performance

BAFN stock remained flat at $13.50 on Friday. The company had a trading volume of 184 shares, compared to its average volume of 8,633. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 0.74. BayFirst Financial has a 12 month low of $8.88 and a 12 month high of $14.50. The stock has a market capitalization of $55.82 million, a price-to-earnings ratio of 11.95 and a beta of 0.44. The company has a 50-day moving average price of $13.26 and a two-hundred day moving average price of $12.65.

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

BayFirst Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st were issued a $0.08 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.32 annualized dividend and a yield of 2.37%. BayFirst Financial’s dividend payout ratio (DPR) is presently 28.32%.

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.