BayFirst Financial Corp (BAFN)
NASDAQ:BAFN
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BayFirst Financial Corp
(NASDAQ:BAFN)
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Rating:55Neutral
Price Target:
$6.50
▼(-14.13% Downside)
Action:Reiterated
Date:05/15/26
The score is mainly held back by deteriorating profitability and weakening balance-sheet returns (losses and shrinking equity), plus weak price trend/momentum. It is partially supported by strong reported operating/free cash flow and constructive recapitalization steps and leadership changes discussed on the earnings call, with the dividend yield providing an additional (but secondary) offset.
Positive Factors
Stable operating and free cash flow
Consistent positive operating and free cash flow provides a durable liquidity cushion to fund operations, cover elevated provisions, and support incremental credit resolution without immediate reliance on wholesale funding. This underpins short-to-medium term resilience while earnings recover.
Negative Factors
Sustained profitability deterioration
Persistent net losses and double-digit revenue decline erode retained earnings and ROE, reducing internal capital generation and limiting capacity to invest in growth or absorb future credit stress. If this trend persists, the bank will need repeated external capital or deeper restructuring to restore profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
Stable operating and free cash flow
Consistent positive operating and free cash flow provides a durable liquidity cushion to fund operations, cover elevated provisions, and support incremental credit resolution without immediate reliance on wholesale funding. This underpins short-to-medium term resilience while earnings recover.
Read all positive factors
BayFirst Financial Corp Key Performance Indicators (KPIs)
BayFirst Financial Corp (BAFN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$26.24M
Dividend Yield4.1%
Average Volume (3M)11.15K
Price to Earnings (P/E)―
Beta (1Y)0.58
Revenue Growth-18.73%
EPS Growth-401.58%
CountryUS
Employees305
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)-7.23
Shares Outstanding4,106,905
10 Day Avg. Volume16,746
30 Day Avg. Volume11,146
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)0.37
Price to Sales (P/S)0.31
P/FCF Ratio0.11
Enterprise Value/Market Cap1.52
Enterprise Value/Revenue0.46
Enterprise Value/Gross Profit1.44
Enterprise Value/Ebitda-1.14
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
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....
How the Company Makes Money
BayFirst Financial Corp primarily makes money through its bank subsidiary by earning (1) net interest income and (2) noninterest income. Net interest income is generated from the spread between interest earned on interest-earning assets—primarily ...
BayFirst Financial Corp Earnings Call Summary
Earnings Call Date:Apr 30, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 23, 2026
Earnings Call Sentiment Neutral
The call presents a mix of meaningful positives and notable near-term challenges. The successful $80 million capital raise, pro forma improvement in capital ratios to healthy levels, appointment of an experienced community-bank CEO, and an adequate liquidity position are significant positives that materially strengthen the bank's ability to address legacy issues. Offsetting these are continued operating losses (net loss widened to $5.7M), contraction of loans and deposits, margin pressure (NIM down 16 bps), elevated charge-offs concentrated in the unguaranteed SBA 7(a) portfolio (~$159M) and higher noninterest expenses related to legacy serving. Overall, the capital and leadership actions position the bank to stabilize, but the underlying credit metrics and profitability trends remain challenged in the near term.Positive Updates
Successful $80M Capital Raise (PIPE) and Rights Offering
Raised $80 million via a private investment in public equity (convertible preferred stock) that would convert to ~22.9 million common shares at an effective $3.50 per share (subject to approvals); concurrent rights offering for existing shareholders and special shareholder meeting scheduled for July 14.
Negative Updates
Net Loss Widened
Reported a net loss of $5.7 million in Q1 2026, compared with a net loss of $2.8 million in Q4 2025, reflecting wider quarterly losses.
Read all updates
Q1-2026 Updates
Positive
Negative
Successful $80M Capital Raise (PIPE) and Rights Offering
Raised $80 million via a private investment in public equity (convertible preferred stock) that would convert to ~22.9 million common shares at an effective $3.50 per share (subject to approvals); concurrent rights offering for existing shareholders and special shareholder meeting scheduled for July 14.
Read all positive updates
Company Guidance
The company guided that it has completed an $80 million PIPE (convertible preferred that would convert or exchange into ~22.9 million common shares at an effective $3.50/share), will launch a rights offering with a special shareholder meeting on July 14, resume dividends to preferred holders and redeem Series A, and expects the new capital to support community-bank growth (Tampa Bay/Sarasota only) and legacy credit resolution; key metrics disclosed include a Q1 net loss of $5.7 million, loans held for investment of $930.4 million (down $33.5 million, or 3% QoQ, and $154.4 million, or 14% YoY), deposits down $98 million (8% QoQ; $42.4 million, or 4% YoY) with 83% FDIC-insured, bank liquidity ~13.85% (no wholesale borrowings), net interest margin 3.42% (down 16 bps), net interest income $9.4 million, noninterest income $0.884 million, noninterest expense $14.9 million, provision for credit losses $3.1 million, net charge-offs $4.4 million (annualized NCOs 1.98%), unguaranteed SBA 7(a) balances $159.3 million, total nonperforming loans excluding guarantees $15.9 million (1.81% of loans; $3.8 million of which are current), ACL on loans 2.35% (ACL ex-guaranteed 2.53%), Bolt/FlashCap subportfolio ~ $100 million reserved at ~13% (≈$12 million of ~ $20 million allowance), Tier 1 leverage 6.54% (pro forma 10.02% with a $42 million intra-company capital contribution) and total capital/RWA 9.84% (pro forma 14.4% as of 04/30/2026).BayFirst Financial Corp Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
58
Neutral
Cash Flow
72
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 86.36M | 104.19M | 125.24M | 110.85M | 66.41M | 63.35M |
| Gross Profit | 27.86M | 39.59M | 65.73M | 68.32M | 58.54M | 59.55M |
| EBITDA | -35.03M | -30.83M | 25.71M | 14.79M | 12.01M | 16.05M |
| Net Income | -28.28M | -22.94M | 12.60M | 5.70M | -349.00K | 24.62M |
Balance Sheet | ||||||
| Total Assets | 1.20B | 1.30B | 1.29B | 1.12B | 938.89M | 917.10M |
| Cash, Cash Equivalents and Short-Term Investments | 6.85M | 206.98M | 88.94M | 102.61M | 113.28M | 143.00M |
| Total Debt | 20.58M | 20.82M | 22.40M | 20.96M | 37.37M | 12.71M |
| Total Liabilities | 1.11B | 1.21B | 1.18B | 1.02B | 847.01M | 820.80M |
| Stockholders Equity | 81.87M | 87.57M | 110.92M | 100.71M | 91.88M | 96.29M |
Cash Flow | ||||||
| Free Cash Flow | 207.69M | 285.00M | 388.84M | 447.21M | 432.19M | 482.27M |
| Operating Cash Flow | 207.93M | 285.30M | 390.53M | 454.80M | 440.25M | 495.39M |
| Investing Cash Flow | -73.42M | -194.94M | -515.93M | -641.28M | -510.61M | 207.62M |
| Financing Cash Flow | -63.19M | 38.84M | 144.80M | 178.82M | 26.67M | -648.66M |
BayFirst Financial Corp Technical Analysis
Negative
7.57
Price Trends
6.82
Negative
6.80
Negative
7.80
Negative
Market Momentum
-0.27
Positive
43.08
Neutral
30.22
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 7.57 is above the 20-day moving average (MA) of 6.92, above the 50-day MA of 6.82, and below the 200-day MA of 7.80, indicating a bearish trend. The MACD of -0.27 indicates Positive momentum. The RSI at 43.08 is Neutral, neither overbought nor oversold. The STOCH value of 30.22 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BAFN.
BayFirst Financial Corp Risk Analysis
BayFirst Financial Corp disclosed 51 risk factors in its most recent earnings report. BayFirst Financial Corp reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
BayFirst Financial Corp Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $58.08M | 8.86 | 9.28% | 3.21% | 5.66% | 79.41% | |
77 Outperform | $67.84M | 3.27 | 14.63% | ― | 15.64% | 5.72% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
65 Neutral | $66.67M | 8.54 | 4.93% | 3.87% | 4.99% | 50.85% | |
58 Neutral | $48.33M | 15.11 | 5.34% | 1.10% | 3.83% | 59.54% | |
55 Neutral | $26.24M | -1.15 | -23.19% | 4.10% | -18.73% | -401.58% |
* Financial Sector Average
BAFN
BayFirst Financial Corp
6.39
-8.56
-57.26%
ASRV
Ameriserv Financial
3.93
1.33
51.04%
HFBL
Home Federal Bancorp Of Louisiana
19.02
6.29
49.45%
OPHC
Optimumbank Holdings
5.53
1.12
25.40%
TCBS
Texas Community
16.75
1.35
8.79%
BayFirst Financial Corp Corporate Events
Business Operations and StrategyExecutive/Board ChangesDividendsFinancial DisclosuresPrivate Placements and Financing
BayFirst Unveils Capital Raise, Leadership Shift Amid Loss
Negative
May 5, 2026
On May 1, 2026, BayFirst Financial Corp. reported a first-quarter 2026 net loss of $5.7 million, reflecting shrinking loan and deposit balances, margin compression, and elevated credit costs tied largely to unguaranteed SBA 7(a) loans. The company...
Business Operations and StrategyExecutive/Board ChangesDividendsFinancial DisclosuresPrivate Placements and FinancingRegulatory Filings and Compliance
BayFirst Financial Launches Major Capital Raise and Leadership Change
Negative
Apr 30, 2026
On April 28, 2026, BayFirst Financial Corp. raised $80 million in a private placement of mandatorily convertible Series D and Series E preferred stock, designed to boost capital at both the company and BayFirst National Bank, redeem existing prefe...
Financial Disclosures
BayFirst Financial Schedules First-Quarter 2026 Results Release
Neutral
Mar 31, 2026
BayFirst Financial Corp., the St. Petersburg, Florida-based bank holding company for BayFirst National Bank, operates a dozen full-service branches across the Tampa Bay–Sarasota corridor and offers a broad mix of commercial and consumer bank...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.