BayFirst Financial (NASDAQ:BAFN) Stock Price Down 2.9% - Here's Why

Key Points

• BayFirst Financial Corp. shares fell by 2.9% to $11.90, with trading volume dropping 72% compared to the average.
• The company reported a quarterly loss of ($0.39) earnings per share, despite generating $23.14 million in revenue.
• Institutional investors have notably increased their holdings, with 16.88% of shares now owned by such investors, including significant purchases by FNY Investment Advisers and Northern Trust Corp.

BayFirst Financial Corp. (NASDAQ:BAFN - Get Free Report)'s stock price fell 2.9% during mid-day trading on Friday . The company traded as low as $11.90 and last traded at $11.90. 4,366 shares changed hands during trading, a decline of 72% from the average session volume of 15,709 shares. The stock had previously closed at $12.25.

BayFirst Financial Stock Down 9.1%

The firm has a market cap of $38.57 million, a price-to-earnings ratio of 5.40 and a beta of 0.40. The company has a current ratio of 1.00, a quick ratio of 0.95 and a debt-to-equity ratio of 0.29. The stock has a 50-day moving average of $14.35 and a 200-day moving average of $15.66.

BayFirst Financial (NASDAQ:BAFN - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported ($0.39) earnings per share (EPS) for the quarter. The firm had revenue of $23.14 million for the quarter. BayFirst Financial had a net margin of 6.65% and a return on equity of 10.15%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Northern Trust Corp boosted its stake in BayFirst Financial by 70.5% during the 4th 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 period. Renaissance Technologies LLC bought a new stake in shares of BayFirst Financial during the 4th quarter worth about $133,000. Finally, FNY Investment Advisers LLC bought a new stake in shares of BayFirst Financial during the 1st quarter worth about $93,000. 16.88% of the stock is owned by institutional investors and hedge funds.

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.