BayFirst Financial Corp.
Description
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. It also provides commercial real estate mortgages; construction and development, working capital, and business loans; auto, boat, and recreational vehicle loans; and residential mortgages, personal lines of credit, and home equity lines of credit. In addition, the company offers mobile and online banking, treasury management, wire transfers, cash management, merchant processing, remote deposit capture, night depositor, online bill payment, courier, retail investment, ACH originations, and other services. It operates full-service banking centers in St. Petersburg, Seminole, Pinellas Park, Clearwater, Sarasota, Tampa, Belleair Bluffs, and Bradenton, Florida. 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.
About
CEO
Mr. Thomas G. Zernick
Employees
295
Instrument type
Common Stock
Sector
Financial Services
Industry
Banks - Regional
MIC code
XNCM
Address
700 Central Avenue, Saint Petersburg, FL 33701, United States
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Oscillators
No data available
Summary
No data available
Moving Averages
No data available
Earnings
| Date | Estimate EPS | Actual EPS | Difference | % Surprise |
|---|---|---|---|---|
| Apr 25, 2024 | — | — | — | — |
| Jan 25, 2024 | — | — | — | — |
| Oct 27, 2023 | — | — | — | — |
| Jul 26, 2023 | — | — | — | — |
| Apr 27, 2023 | — | 0.13 | — | — |
Earnings estimate
| Number of analysts | — | — | — | — |
|---|---|---|---|---|
| Average estimate | — | — | — | — |
| Low estimate | — | — | — | — |
| High estimate | — | — | — | — |
| Last year EPS | — | — | — | — |
[stock_revenue_estimate]
Growth estimates
Current qtr
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Next qtr.
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Current year
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Next year
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Next 5 years (per annum)
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Past 5 years (per annum)
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Income statement
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total reported revenue | 78.76M | 57.84M | 56.05M | 123.82M | 66.67M |
| Cost of revenue | — | — | — | — | — |
| Gross profit | — | — | — | — | — |
| Operating expense | |||||
| Research & development | — | — | — | — | — |
| Selling general and admin | 42.21M | 34.71M | 32.51M | 80.66M | 43.70M |
| Other operating expenses | — | — | — | — | — |
| Operating income | — | — | — | — | — |
| Non operating interest income | |||||
| Income | — | — | — | — | — |
| Expense | — | — | — | — | — |
| Other income expense | — | — | — | — | — |
| Pretax income | 8.03M | 7.04M | 11.72M | 15.78M | 6.30M |
| Tax provision | 2.12M | 1.56M | 2.69M | 3.08M | 1.81M |
| Net income | 5.70M | -349,000 | 24.62M | 12.70M | 4.48M |
| Basic EPS | 1.16 | -0.29 | 6.21 | 3.45 | 1.27 |
| Diluted EPS | 1.12 | -0.29 | 5.74 | 3.01 | 1.27 |
| Basic average shares | 4.08M | 4.07M | 3.80M | 3.43M | 3.17M |
| Diluted average shares | 4.08M | 4.07M | 3.80M | 3.43M | 3.17M |
| EBITDA | — | — | — | — | — |
| Net income from continuing op. | 5.92M | 5.48M | 9.03M | 12.70M | 4.48M |
| Minority interests | — | — | — | — | — |
| Preferred stock dividends | — | — | — | — | — |
Balance sheet
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total assets | — | — | — | — | — |
| Current assets | |||||
| Cash | 4.10M | 3.65M | 2.87M | 2.79M | 3.08M |
| Cash equivalents | — | — | — | — | — |
| Cash and cash equivalents | 63.03M | 70.93M | 112.11M | 57.76M | 112.96M |
| Other short term investments | 39.58M | 42.35M | 30.89M | — | — |
| Accounts receivable | 7.13M | 4.45M | 3.53M | 7.30M | 2.12M |
| Other receivables | — | — | — | — | — |
| Inventory | — | — | — | — | — |
| Prepaid assets | — | — | — | — | — |
| Restricted cash | — | — | — | — | — |
| Assets held for sale | — | — | — | — | — |
| Hedging assets | — | — | — | — | — |
| Other current assets | — | — | — | — | — |
| Non current assets | |||||
| Properties | 2.42M | 3.18M | 3.26M | 3.74M | 2.85M |
| Land and improvements | 6.49M | 4.49M | 4.19M | 3.54M | 2.67M |
| Machinery furniture equipment | 7.21M | 6.52M | 7.03M | 6.05M | 4.71M |
| Construction in progress | 6.88M | 14.72M | 12.25M | 4.42M | 6.16M |
| Leases | 3.13M | 2.83M | 2.43M | 1.97M | 1.93M |
| Accumulated depreciation | -7.39M | -6.25M | -5.83M | -4.72M | -3.48M |
| Goodwill | 14.96M | 10.91M | 6.41M | 8.16M | 11.28M |
| Investment properties | — | — | — | — | — |
| Financial assets | — | — | — | — | — |
| Intangible assets | 14.96M | 10.91M | 6.41M | 8.16M | 11.28M |
| Investments and advances | 42.06M | 47.35M | 30.90M | 41,000 | 43,422 |
| Other non current assets | — | — | — | — | — |
| Total liabilities | — | — | — | — | — |
| Current liabilities | |||||
| Accounts payable | 882,000 | 704,000 | 326,000 | 2.00M | 220,172 |
| Accrued expenses | — | 12.21M | 8.97M | 17.95M | 6.63M |
| Short term debt | — | — | — | — | — |
| Deferred revenue | — | — | — | — | — |
| Tax payable | — | — | — | — | — |
| Pensions | — | — | — | — | — |
| Other current liabilities | — | — | — | — | — |
| Non current liabilities | |||||
| Long term debt | 20.96M | 37.37M | 12.72M | 13.63M | 24.46M |
| Provision for risks and charges | — | — | — | — | — |
| Deferred liabilities | 482,000 | — | — | — | — |
| Derivative product liabilities | — | — | — | — | — |
| Other non current liabilities | — | — | — | — | — |
| Shareholders equity | |||||
| Common stock | 54.52M | 53.02M | 51.50M | 43.04M | 41.36M |
| Retained earnings | 34.40M | 33.48M | 35.95M | 13.39M | 2.46M |
| Other shareholders equity | -2.98M | -3.72M | -420,000 | — | — |
| Total shareholders equity | 100.71M | 91.88M | 96.29M | 71.07M | 51.33M |
| Additional paid in capital | — | — | — | — | — |
| Treasury stock | — | — | — | — | — |
| Minority interest | — | — | — | — | — |
Cash flow statement
| 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2014 | 2013 | 1997 | 1996 | 1995 | 1994 | 1993 | 1992 | 1991 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||||||||||
| Net Income | 5.92M | 5.48M | 9.03M | 12.70M | 4.48M | -1.21M | 620,745 | -130,095 | 4.70M | 4.30M | 4.70M | 4.20M | 4.10M | 2.30M | 1.50M |
| Depreciation | 6.75M | 4.97M | 4.33M | 5.06M | 5.07M | 3.51M | 120,760 | 113,638 | — | — | — | — | — | — | — |
| Deferred Taxes | 2.12M | 424,000 | 3.51M | -3.71M | 595,110 | -380,200 | -264,080 | — | 100,000 | -400,000 | — | 400,000 | -600,000 | — | — |
| Stock-Based Compensation | 631,000 | 850,000 | 518,000 | 416,000 | 386,132 | 238,432 | — | — | — | — | — | — | — | — | — |
| Other Non-Cash Items | 478.76M | 351.48M | 392.64M | -42.52M | -3.75M | 33.63M | — | 195,913 | 900,000 | 100,000 | 1.20M | 11.60M | -13.80M | 1.50M | 200,000 |
| Accounts Receivable | -2.68M | -920,000 | 3.72M | -5.18M | -375,660 | -435,526 | -46,397 | 24,136 | -200,000 | -100,000 | -400,000 | -200,000 | — | -100,000 | -100,000 |
| Accounts Payable | 178,000 | 378,000 | -1.67M | 1.78M | 72,746 | -51,150 | 83,011 | 40,227 | 300,000 | — | 100,000 | 200,000 | 100,000 | -100,000 | -200,000 |
| Other Assets & Liabilities | -4.36M | 1.57M | -4.61M | -888,000 | 2.42M | 674,699 | -619,025 | 46,134 | 100,000 | -100,000 | -300,000 | — | 100,000 | -200,000 | -300,000 |
| Operating Cash Flow | 487.32M | 364.23M | 407.46M | -32.34M | 8.91M | 35.98M | -104,986 | 289,953 | 5.90M | 3.80M | 5.30M | 16.20M | -10.10M | 3.40M | 1.10M |
| Investing Activities | |||||||||||||||
| Capital Expenditures | -7.58M | -8.06M | -13.12M | -3.05M | -7.31M | -4.79M | -1.80M | -21,981 | -200,000 | -800,000 | -300,000 | -200,000 | -200,000 | -600,000 | -200,000 |
| Net Intangibles | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Net Acquisitions | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Purchase of Investments | — | -23.89M | -33.21M | — | — | — | -2.01M | — | -56.80M | -68.30M | -69.30M | -49.40M | -67.10M | -60.10M | -27.10M |
| Sale of Investments | 6.18M | 2.86M | 1.68M | 1,000 | 1,495 | 17,989 | 1.31M | 122,474 | 35.70M | 27.30M | 27.10M | 29.10M | 67.90M | 34.00M | 7.50M |
| Investing Cash Flow | 182,000 | -30.31M | -57.11M | -14.91M | -7.62M | -4.37M | -1.16M | 154,566 | -39.40M | -46.10M | -43.00M | -51.20M | -22.30M | -23.70M | -20.50M |
| Financing Activities | |||||||||||||||
| Long-Term Debt Issuance | — | — | 6.00M | 881.26M | 11.21M | 7.88M | 2.00M | — | — | — | — | — | — | — | — |
| Long-Term Debt Payments | -15.51M | -70.11M | -818.06M | -11.34M | -3.94M | -20.17M | — | — | — | — | — | — | — | — | — |
| Other Financing Charges | — | — | -6,000 | -24,000 | — | — | — | — | -1.30M | -7.70M | -100,000 | 200,000 | -300,000 | 15.10M | -100,000 |
| Financing Cash Flow | -26.06M | -46.77M | -811.55M | 875.55M | 12.72M | -23.43M | 2.00M | — | -2.40M | 22.10M | 25.40M | 24.60M | 37.50M | 29.70M | 900,000 |
| Other Cash Details | |||||||||||||||
| End Cash Position | 58.39M | 66.05M | 109.73M | 55.38M | 110.58M | 28.88M | 11.27M | 15.08M | — | — | — | — | — | — | — |
| Income Tax Paid | 97,000 | 248,000 | 10.38M | 9.75M | 93,401 | 790,683 | 74,560 | — | — | — | — | — | — | — | — |
| Interest Paid | 31.91M | 8.19M | 8.97M | 8.50M | 8.19M | 4.42M | 214,342 | 278,871 | — | — | — | — | — | — | — |
| Free Cash Flow | 447.22M | 432.19M | 482.27M | -110.87M | -45.84M | 2.56M | -3.75M | 235,699 | 5.70M | 3.00M | 5.60M | 16.10M | -10.40M | 2.70M | 700,000 |
Top Institutional Holders
| Holder | Date Reported | Shares | Value | % Held |
|---|---|---|---|---|
| Vanguard Extended Market Index Fund | Sep 30, 2024 | 56,203 | 904,868 | 1.41% |
| Fidelity Extended Market Index Fund | Nov 30, 2024 | 19,628 | 316,010 | 0.49% |
| iShares Micro Cap ETF | Nov 30, 2024 | 8,066 | 129,862 | 0.20% |
| Fidelity Total Market Index Fund | Nov 30, 2024 | 7,201 | 115,936 | 0.18% |
| Fidelity Series Total Market Index Fund | Nov 30, 2024 | 4,688 | 75,476 | 0.12% |
| Fidelity NASDAQ Composite Index Fund | Nov 30, 2024 | 952 | 15,327 | 0.02% |
| EQ Advisors Trust-1290 VT Micro Cap Port | Sep 30, 2024 | 653 | 10,513 | 0.02% |
Article
BayFirst Financial Corp. Reports Fourth Quarter 2024 Results
Earnings per common share increased to $2.11 for the quarter and $2.64 for the year; Net interest margin expanded by 26bps; Announced share buyback program Earnings per common share increased to $2.11 for the quarter and $2.64 for the year; Net interest margin expanded by 26bps; Announced share buyback program
Jan 30, 2025
Article
BayFirst Announces Fourth Quarter 2024 Conference Call and Webcast
ST. PETERSBURG, Fla., Dec. 31, 2024 (GLOBE NEWSWIRE) -- BayFirst Financial Corp. (NASDAQ: BAFN) (“BayFirst” or the “Company”), parent company of BayFirst National Bank (the “Bank”) today announced that it will report its fourth quarter results after the market close on Thursday, January 30, 2025. Management will host a conference call on Friday, January 31, 2025, at 9:00 a.m. ET to discuss the results. The call will also be broadcast live via the internet.
Dec 31, 2024
Article
BayFirst Financial Corp. Reports Third Quarter 2024 Results; Third Quarter Net Income Increased 31.3% Over Prior Quarter
ST. PETERSBURG, Fla., Oct. 24, 2024 (GLOBE NEWSWIRE) -- BayFirst Financial Corp. (NASDAQ: BAFN) (“BayFirst” or the “Company”), parent company of BayFirst National Bank (the “Bank”) today reported net income of $1.1 million, or $0.18 per diluted common share, for the third quarter of 2024, an increase of 31.3% compared to $0.9 million, or $0.12 per diluted common share, in the second quarter of 2024.
Oct 24, 2024
