Short Interest in BayFirst Financial Corp. (NASDAQ:BAFN) Drops By 10.8%

BayFirst Financial Corp. (NASDAQ:BAFN) saw a large decline in short interest in October. As of October 31st, there was short interest totalling 16,500 shares, a decline of 10.8% from the October 15th total of 18,500 shares. Based on an average daily volume of 7,000 shares, the short-interest ratio is presently 2.4 days. Approximately 0.5% of the shares of the stock are short sold.

BayFirst Financial Stock Performance

Shares of NASDAQ BAFN opened at $13.55 on Tuesday. The firm’s fifty day moving average is $13.29 and its two-hundred day moving average is $12.77. BayFirst Financial has a 52-week low of $10.15 and a 52-week high of $15.05. The company has a market cap of $55.96 million, a P/E ratio of 18.56 and a beta of 0.42. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.91 and a current ratio of 0.98.

BayFirst Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.36%. BayFirst Financial’s payout ratio is currently 43.84%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in BayFirst Financial stock. Kennedy Capital Management LLC increased its stake in BayFirst Financial Corp. (NASDAQ:BAFN) by 28.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,425 shares of the company’s stock after buying an additional 7,774 shares during the quarter. Kennedy Capital Management LLC owned about 0.86% of BayFirst Financial worth $459,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 16.88% of the company’s stock.

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.