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

BayFirst Financial Corp. (NASDAQ:BAFN - Get Free Report) saw a large drop in short interest in April. As of April 15th, there was short interest totalling 3,100 shares, a drop of 50.8% from the March 31st total of 6,300 shares. Based on an average daily volume of 9,100 shares, the short-interest ratio is currently 0.3 days. Currently, 0.1% of the shares of the company are sold short.

Hedge Funds Weigh In On BayFirst Financial

Several hedge funds and other institutional investors have recently bought and sold shares of BAFN. FNY Investment Advisers LLC purchased a new stake in shares of BayFirst Financial in the 1st quarter valued at $93,000. Renaissance Technologies LLC purchased a new stake in BayFirst Financial in the fourth quarter valued at $133,000. Northern Trust Corp boosted its holdings in BayFirst Financial by 70.5% in the fourth quarter. Northern Trust Corp now owns 17,408 shares of the company's stock valued at $232,000 after purchasing an additional 7,199 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in BayFirst Financial by 7.4% during the 3rd quarter. Geode Capital Management LLC now owns 36,101 shares of the company's stock worth $475,000 after purchasing an additional 2,490 shares during the period. Institutional investors and hedge funds own 16.88% of the company's stock.

BayFirst Financial Trading Down 9.6 %

Shares of BayFirst Financial stock opened at $14.65 on Monday. The firm's 50 day simple moving average is $16.91 and its two-hundred day simple moving average is $14.97. The firm has a market capitalization of $60.49 million, a price-to-earnings ratio of 5.81 and a beta of 0.43. BayFirst Financial has a 12-month low of $10.40 and a 12-month high of $19.75. The company has a current ratio of 0.98, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21.

BayFirst Financial (NASDAQ:BAFN - Get Free Report) last released its earnings results on Thursday, April 24th. The company reported ($0.17) earnings per share (EPS) for the quarter. BayFirst Financial had a net margin of 8.80% and a return on equity of 14.81%. The firm had revenue of $19.75 million during the quarter.

BayFirst Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, June 15th. Investors of record on Sunday, June 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 2.18%. The ex-dividend date is Friday, May 30th. BayFirst Financial's dividend payout ratio (DPR) is 14.29%.

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.

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