BayFirst Financial Corp. (NASDAQ:BAFN) Sees Significant Decline in Short Interest

BayFirst Financial Corp. (NASDAQ:BAFN) was the target of a large decline in short interest in December. As of December 15th, there was short interest totalling 8,600 shares, a decline of 41.5% from the November 30th total of 14,700 shares. Approximately 0.3% of the shares of the company are sold short. Based on an average daily volume of 6,600 shares, the days-to-cover ratio is currently 1.3 days.

BayFirst Financial Stock Performance

Shares of NASDAQ:BAFN traded up $0.18 on Friday, reaching $13.49. 2,872 shares of the company’s stock were exchanged, compared to its average volume of 8,036. 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 has a twelve month low of $10.40 and a twelve month high of $15.05. The company has a fifty day moving average of $13.30 and a 200-day moving average of $13.00. The company has a market capitalization of $55.75 million, a price-to-earnings ratio of 18.48 and a beta of 0.41.

BayFirst Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st were paid a dividend of $0.08 per share. The ex-dividend date was Friday, November 29th. This represents a $0.32 dividend on an annualized basis and a yield of 2.37%. BayFirst Financial’s dividend payout ratio (DPR) is presently 43.84%.

Institutional Trading of BayFirst Financial

A hedge fund recently raised its stake in BayFirst Financial stock. Geode Capital Management LLC boosted its stake in BayFirst Financial Corp. (NASDAQ:BAFN) by 7.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,101 shares of the company’s stock after purchasing an additional 2,490 shares during the quarter. Geode Capital Management LLC owned about 0.87% of BayFirst Financial worth $475,000 at the end of the most recent reporting period. 16.88% of the stock is currently owned by hedge funds and other institutional investors.

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.