BayFirst Financial (NASDAQ:BAFN) Stock Price Up 2% – Should You Buy?

BayFirst Financial Corp. (NASDAQ:BAFN) shares shot up 2% on Monday . The company traded as high as $18.80 and last traded at $18.70. 11,937 shares traded hands during mid-day trading, an increase of 70% from the average session volume of 7,030 shares. The stock had previously closed at $18.33.

BayFirst Financial Stock Up 2.0 %

The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.91 and a current ratio of 0.98. The firm has a fifty day simple moving average of $14.89 and a 200-day simple moving average of $13.87. The firm has a market cap of $77.29 million, a price-to-earnings ratio of 7.42 and a beta of 0.43.

BayFirst Financial (NASDAQ:BAFN) last posted its earnings results on Thursday, January 30th. The company reported $2.11 earnings per share (EPS) for the quarter. BayFirst Financial had a net margin of 8.80% and a return on equity of 14.81%.

BayFirst Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend is Friday, February 28th. BayFirst Financial’s dividend payout ratio is presently 12.70%.

Hedge Funds Weigh In On BayFirst Financial

Several institutional investors and hedge funds have recently made changes to their positions in BAFN. Geode Capital Management LLC boosted its stake in BayFirst Financial by 7.4% in the 3rd quarter. Geode Capital Management LLC now owns 36,101 shares of the company’s stock valued at $475,000 after purchasing an additional 2,490 shares during the period. Northern Trust Corp increased its position in BayFirst Financial by 70.5% during the 4th quarter. Northern Trust Corp now owns 17,408 shares of the company’s stock worth $232,000 after buying an additional 7,199 shares during the period. Finally, Renaissance Technologies LLC bought a new position in BayFirst Financial during the 4th quarter worth $133,000. Institutional investors and hedge funds 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.