BlackRock Inc. Makes New $127.54 Million Investment in BayFirst Financial Corp. $BAFN

BlackRock Inc. bought a new stake in BayFirst Financial Corp. (NASDAQ:BAFN - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,646,928 shares of the company's stock, valued at approximately $127,538,000. BlackRock Inc. owned approximately 40.10% of BayFirst Financial at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp purchased a new stake in BayFirst Financial in the second quarter valued at $6,217,000. Deutsche Bank AG purchased a new position in shares of BayFirst Financial during the second quarter worth about $1,789,000. HBK Sorce Advisory LLC purchased a new position in shares of BayFirst Financial during the second quarter worth about $1,521,000. Tactive Advisors LLC acquired a new stake in shares of BayFirst Financial during the first quarter worth about $98,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of BayFirst Financial during the second quarter worth about $572,000. 16.88% of the stock is owned by hedge funds and other institutional investors.

BayFirst Financial Trading Down 1.9%

NASDAQ:BAFN opened at $6.61 on Friday. BayFirst Financial Corp. has a 12-month low of $4.26 and a 12-month high of $11.34. The company has a current ratio of 0.98, a quick ratio of 0.94 and a debt-to-equity ratio of 0.28. The stock's 50 day simple moving average is $5.97 and its 200-day simple moving average is $6.33. The firm has a market cap of $178.21 million, a P/E ratio of -0.44 and a beta of 0.53.

BayFirst Financial (NASDAQ:BAFN - Get Free Report) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($8.05) earnings per share for the quarter. The company had revenue of $2.61 million for the quarter. BayFirst Financial had a negative return on equity of 101.15% and a negative net margin of 80.74%.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded BayFirst Financial from a "sell (d)" rating to a "sell (d-)" rating in a research note on Thursday, August 20th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, BayFirst Financial has a consensus rating of "Sell".

BayFirst Financial Profile

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.

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