BayFirst Financial Corp (BAFN) AI Stock Analysis

• Market Cap: $60.47M
• Dividend Yield: 2.18%
• Average Volume (3M): 11.06K
• Price to Earnings (P/E): 7.2
• Beta (1Y): 0.64
• Revenue Growth: 8.22%
• EPS Growth: 112.31%
• Country: US
• Employees: 298
• Sector: Financial
• Sector Strength: 83
• Industry: Banks - Regional
• EPS (TTM): 2.24
• Shares Outstanding: 4,129,027
• 10 Day Avg. Volume: 7,034
• 30 Day Avg. Volume: 11,056
• PEG Ratio: 0.06
• Price to Book (P/B): N/A
• Price to Sales (P/S): 0.97
• Price to Cash Flow (P/CF): 0.20
• P/FCF Ratio: 0.20
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0

BayFirst Financial Corp's overall score reflects strong financial performance, especially in revenue growth and profitability. However, challenges such as cash flow volatility, rising liabilities, and recent net losses weigh on the score. The stock appears undervalued with a low P/E ratio, offering potential value opportunities. Technical indicators present short-term challenges but suggest long-term support. Corporate initiatives indicate a strategic focus on growth and value enhancement, supporting a cautiously optimistic outlook.

BayFirst Financial Corp Business Overview & Revenue Model

Company Description

BayFirst Financial Corp. operates as the bank holding company for First Home Bank that provides commercial and consumer banking services for businesses and individuals. The company offers checking and savings accounts, and certificates of deposit. It also provides home loans, including residential mortgages, home equity loans, and home equity lines of credit; and business lending services comprising minority lending programs, PPP loan forgiveness services, SBA loans, and commercial lending services. In addition, the company offers treasury management, merchant, online, and investment services; and credit cards. As of January 26, 2022, it operated seven full-service office locations in St. Petersburg, Seminole, Pinellas Park, Clearwater, Sarasota, Tampa, and Belleair Bluffs, Florida; and 23 mortgage loan production offices. The company was formerly known as First Home Bancorp, Inc. and changed its name to BayFirst Financial Corp. in May 2021. BayFirst Financial Corp. was founded in 1999 and is headquartered in Saint Petersburg, Florida.

How the Company Makes Money

BayFirst Financial Corp makes money through interest income from its loan portfolio, which includes commercial and residential mortgages, as well as various consumer loans. Additionally, the company generates revenue from fees associated with its banking services, such as account maintenance fees, transaction fees, and other service charges. BayFirst Financial Corp may also engage in investment activities, earning from securities and other financial instruments. Key factors contributing to its earnings include effective management of interest rate spreads, maintaining a diverse loan portfolio, and strategic partnerships with other financial institutions to enhance service offerings.

BayFirst Financial Corp Financial Statement Overview

Summary

BayFirst Financial Corp has demonstrated strong revenue growth and improved profitability margins, supported by a solid equity base. However, the volatility in cash flows and rising liabilities require attention to ensure long-term financial stability.

Income Statement

BayFirst Financial Corp has shown consistent revenue growth from $57.8M in 2022 to $83.8M in 2024, indicating strong top-line growth. The gross profit margin remained high at nearly 100% due to the nature of the banking industry, where the revenue equals gross profit. Net profit margin improved significantly from 9.9% in 2023 to 15% in 2024, reflecting enhanced profitability. EBIT margin also increased, indicating better operational efficiency. However, the absence of EBITDA data limits the analysis.

Balance Sheet

The company's balance sheet displays a strong equity position, with stockholders' equity growing from $91.8M in 2022 to $110.9M in 2024. The debt-to-equity ratio improved significantly, highlighting reduced leverage and a more stable financial structure. The equity ratio is strong, reflecting good asset financing through equity. However, the increase in total liabilities over the years may pose a risk if not managed carefully.

Cash Flow

Cash flow analysis reveals fluctuations, with a notable decrease in operating cash flow in 2024 compared to previous years. Free cash flow was strong in 2023 but dropped to zero in 2024, indicating potential liquidity challenges. The free cash flow to net income ratio is not available for 2024, which limits the assessment of cash flow adequacy relative to net earnings.

Breakdown
Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
83.77M	75.74M	57.84M	149.64M	123.82M
	Gross Profit
83.77M	75.74M	57.84M	149.64M	123.82M
	EBIT
28.55M	19.50M	4.81M	32.48M	15.78M
	EBITDA
12.67M	0.00	12.01M	0.00	26.13M
	Net Income Common Stockholders
12.60M	5.70M	5.48M	24.62M	12.70M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
77.79M	58.38M	113.28M	143.00M	57.76M
	Total Assets
1.29B	1.12B	938.89M	917.10M	1.54B
	Total Debt
7.89M	20.96M	37.37M	14.03M	13.63M
	Net Debt
-69.90M	-42.07M	-33.55M	-98.08M	-44.13M
	Total Liabilities
1.18B	1.02B	847.01M	820.80M	1.47B
	Stockholders Equity
110.92M	100.71M	91.88M	96.29M	71.07M
Cash Flow		Free Cash Flow
0.00	447.21M	432.19M	87.92M	-110.85M
	Operating Cash Flow
0.00	454.80M	440.25M	101.21M	-107.80M
	Investing Cash Flow
-515.93M	-641.28M	-510.61M	601.86M	-933.38M
	Financing Cash Flow
144.80M	178.82M	26.67M	-648.73M	985.98M

BayFirst Financial Corp Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 14.64
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BAFN, the sentiment is Negative. The current price of 14.64 is below the 20-day moving average (MA) of 15.08, below the 50-day MA of 17.04, and above the 200-day MA of 14.32, indicating a neutral trend. The MACD of -0.58 indicates Negative momentum. The RSI at 42.79 is Neutral, neither overbought nor oversold. The STOCH value of 64.93 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BAFN.

BayFirst Financial Corp Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BAFN	63 Neutral	$60.47M	7.24	10.87%	2.18%	8.22%	112.31%
Sector *	63 Neutral	$12.32B	9.52	7.89%	79.24%	12.74%	-4.55%
CFSB	60 Neutral	$53.04M	―	-0.06%	―	14.80%	-113.18%
BYFC	56 Neutral	$60.01M	150.92	0.67%	―	20.43%	-92.31%
SSBI	51 Neutral	$53.41M	10.38	-4.43%	5.09%	-4.93%	-138.56%

BayFirst Financial Corp Corporate Events

BayFirst Financial Reports Q1 2025 Net Loss

BayFirst Financial Corp. reported a net loss of $0.3 million for the first quarter of 2025, a significant decline from the previous quarter’s net income of $9.8 million. The company faced challenges due to deteriorating economic conditions, inflationary pressures, and high interest rates, impacting its loan portfolio and resulting in elevated net charge-offs and provision expenses. Despite these challenges, BayFirst saw strong loan growth in its community bank segment and continued to focus on expanding its low-cost deposit accounts to support its loan portfolios. The company remains committed to returning to profitability and enhancing shareholder value by maintaining robust loan oversight and exploring strategies to de-risk its balance sheet.

Spark’s Take on BAFN Stock

According to Spark, TipRanks’ AI Analyst, BAFN is a Neutral.

BayFirst Financial Corp has a strong financial foundation with significant revenue growth and profitability improvements. Its low P/E ratio and competitive dividend yield enhance its attractiveness as a value investment. However, attention is needed on cash flow management and liabilities. Technical indicators suggest mixed momentum, presenting challenges in the short term but support in the long term. Recent corporate initiatives provide a positive outlook, reinforcing the company’s growth strategy and shareholder value focus.

To see Spark’s full report on BAFN stock, click here.

BayFirst Financial Corp to Announce Q1 2025 Results

BayFirst Financial Corp. announced plans to release its first quarter 2025 financial results on April 24, 2025, with a subsequent conference call scheduled for April 25, 2025, to discuss the results. The announcement is significant for stakeholders as it provides insights into the company’s financial performance and strategic direction, potentially impacting its market positioning and investor confidence.

BayFirst Financial Corp Reports Q4 2024 Results

On January 31, 2025, BayFirst Financial Corp reported its financial results for the fourth quarter of 2024, highlighting a net income of $9.8 million. The company saw improvements in its net interest margin and completed a sale-leaseback transaction to enhance capital positions for future growth. Despite challenges from autumn hurricanes, BayFirst made strategic adjustments, such as suspending fair value measurements on government guaranteed loans, to align with industry standards and enhance consistency in financial reporting. The company also saw growth in deposits and loans, and emphasized its focus on becoming the premier community bank in Tampa Bay by hiring new teams and expanding its business banking and healthcare platforms.

BayFirst Financial Reports Strong Q4 and New Initiatives

BayFirst Financial Corp. reported a significant increase in net income for the fourth quarter of 2024, driven by an expansion in net interest margin, improved operating efficiencies, and a notable gain from a sale-leaseback transaction of branch properties. The company also announced a quarterly cash dividend and a stock repurchase program, emphasizing its commitment to shareholder value and confidence in future growth. With a focus on reducing noninterest expenses and leveraging technology investments, BayFirst aims to further enhance its operational efficiency and cost management.