During December, there was a sizeable drop in the number of short positions held in BayFirst Financial Corp. (NASDAQ: BAFN). There were 19,700 shares in short interest as of the previous day, but as of December 30, there were only 18,700 shares in short interest. This represents a decline of 5.1% from the previous day’s total of 19,700 shares in short interest. At any given time, approximately 0.5% of the total number of shares in the company are sold short. The days-to-cover ratio has reached its current level of 4.5 days, based on the market seeing an average daily volume of 4,200 shares traded.
The most recent earnings report for BayFirst Financial, which is traded under the NASDAQ: BAFN, was made public on Friday, October 28. The company generated $0.68 per share for the period in question. The sum of $18.97 million was recorded as the company’s total revenue for the period under consideration. BayFirst Financial had a return on equity of 7.38 percent, and the net margin for the company was 1.64%.
NASDAQ: BAFN was first available for trading on Monday with an opening price of $17.87. Before a year had passed, one share of BayFirst Financial could be purchased for $15.41; today, one share can be purchased for $25.00. The company presently has a market value of $72.17 million, and its PE ratio can be expressed as 74.44. All three ratios—the current, quick, and debt-to-equity ratios—come out to the same number: 0.87. The ratio of debt to equity is 0.45 right now. The company’s stock has been trading at an average price of $16.62 for the past 50 trading days, while it has been trading at $17.46 for the last 200 trading days.
In recent times, there has been significant market activity from various institutional investors who have been buying and selling company shares. Vanguard Group, Inc. invested in BayFirst Financial with a total value of $3,428,000. This investment was made during the first three months of the year. First Manhattan Co. increased the amount of BayFirst Financial stock owned by 1,275.9% during the year’s first three months. First Manhattan Co. now has a total of 133,287 shares in the company following the purchase of an additional 123,600 shares during the most recent quarter. The value of First Manhattan Co.’s 133,287 shares in the company is a combined total of $3,072,000. BlackRock Inc. invested an additional $870,000 in BayFirst Financial during the first three months of 2018, bringing the total value of its holdings in the company to $870,000. Avantax Planning Partners Inc. made a final investment in BayFirst Financial for $663,000 during the second quarter of the fiscal year. Institutional investors own 16.96% of the company’s shares, bringing the total to 16.96%.
In addition, the business recently announced a quarterly dividend, which was paid out on December 15. On December 1, record stockholders were eligible to receive a dividend payment of $0.08 per share, which was distributed. This leads to an annual dividend payment of $0.32 and a yield of 1.79% due to what has transpired here. This dividend had an ex-dividend date of November 30, a Wednesday, and the day after Thanksgiving. At this time, 133.33% of BayFirst Financial’s earnings are distributed to shareholders.
First Home Bank is owned by BayFirst Financial Corp., which provides commercial and consumer banking services to customers of all stripes, including businesses and individuals. These customers can access commercial and consumer banking products through First Home Bank. Customers have the choice to open savings accounts, checking accounts, or certificates of deposit with the financial institution that the company represents. In addition to commercial lending services and company lending services such as minority lending programs, PPP loan forgiveness, SBA loans, and other commercial lending services, it also provides residential mortgages, home equity loans, and home equity lines of credit.
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