BayFirst Financial (NASDAQ:BAFN) Issues Quarterly Earnings Results

BayFirst Financial (NASDAQ:BAFN) issued its quarterly earnings data on Thursday. The company reported ($0.04) earnings per share for the quarter, FiscalAI reports. The company had revenue of $11.73 million during the quarter. BayFirst Financial had a negative net margin of 80.74% and a negative return on equity of 101.15%.

BayFirst Financial Stock Down 3.7%

BAFN opened at $6.17 on Friday. The stock has a fifty day moving average of $7.19 and a 200-day moving average of $6.54. The company has a market capitalization of $166.34 million, a P/E ratio of -0.41 and a beta of 0.52. BayFirst Financial has a fifty-two week low of $4.26 and a fifty-two week high of $9.56. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.94 and a current ratio of 0.98.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BAFN. Wall Street Zen raised shares of BayFirst Financial to a “sell” rating in a report on Saturday, September 26th. Weiss Ratings cut BayFirst Financial from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, August 20th. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat, the company has an average rating of “Sell”.

Institutional Trading of BayFirst Financial

An institutional investor recently bought a new position in BayFirst Financial stock. BlackRock Inc. purchased a new stake in BayFirst Financial Corp. (NASDAQ:BAFN) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 52,828 shares of the company’s stock, valued at approximately $264,000. BlackRock Inc. owned 1.29% of BayFirst Financial at the end of the most recent quarter. 16.88% of the stock is owned by institutional investors and hedge funds.

BayFirst Financial Company Profile

BayFirst Financial Corp. is a bank holding company headquartered in St. Petersburg, Florida. Its primary subsidiary, BayFirst National Bank, provides banking and financial services to individuals, families, small businesses and commercial customers.

The bank offers deposit accounts, commercial and consumer lending, residential mortgage loans, business banking services and other related financial products. Its lending activities also include Small Business Administration financing and mortgage lending through specialized banking and lending teams.

BayFirst National Bank primarily serves communities in the Tampa Bay region and other areas of Florida, while its mortgage and specialty lending operations may serve customers in additional markets.